Leases

9 Months Ended

Sep. 30, 2020

Leases

Leases

23. Leases

The Company has operating and financing leases for mining equipment, office equipment, office space and transloading terminals with remaining lease terms ranging from less than one year to approximately seven years. Some of these leases include both lease and non-lease components which are accounted for as a single lease component as the Company has elected the practical expedient to combine these components for all leases. As most of the leases do not provide an implicit rate, the Company calculated the ROU assets and lease liabilities using its secured incremental borrowing rate at the lease commencement date.

Information related to leases was as follows:

		Nine Months Ended September 30,
		2020			2019
Operating lease information:	(In thousands)
Operating lease cost	$	846		$	1,071
Operating cash flows from operating leases		860			1,078
Weighted average remaining lease term in years		6.20			6.19
Weighted average discount rate		5.5	%		5.5	%
Financing lease information:
Financing lease cost	$	393		$	—
Operating cash flows from financing leases		303			—
Weighted average remaining lease term in years		4.50			—
Weighted average discount rate		6.4	%		—	%

Future minimum lease payments under non-cancellable leases as of September 30, 2020 were as follows:

	Operating		Finance
Year	Leases		Leases
	(In thousands)
2020	$	823	$	303
2021		3,367		1,210
2022		3,317		1,210
2023		3,285		1,210
2024		3,200		1,210
Thereafter		7,798		2,111
Total minimum lease payments	$	21,790	$	7,254
Less imputed interest		(3,485)		(1,173)
Total lease liabilities	$	18,305	$	6,081
As reflected on balance sheet:
Accrued expenses and other current liabilities	$	2,427	$	847
Other noncurrent liabilities		15,878		5,234
Total lease liability	$	18,305	$	6,081

At September 30, 2020, the Company had an $17.6 million ROU operating lease asset and a $5.9 million finance lease asset recorded within “Other noncurrent assets” on the Condensed Consolidated Balance Sheet.