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LEASES (Tables)
3 Months Ended
Mar. 31, 2019
LEASES  
Components of lease costs

 

 

 

 

 

 

Three Months Ended

 

 

March 31,

(in thousands)

 

2019

Financing lease costs:

 

 

 

Amortization of ROU asset

 

$

24

Interest on lease liabilities

 

 

20

Operating lease costs

 

 

3,464

Variable lease cost

 

 

467

Short-term lease cost

 

 

713

Sublease income

 

 

(1,461)

Total lease costs

 

$

3,227

 

Aggregate future lease payments for operating leases

The aggregate future lease payments for operating leases are as follows:

 

 

 

 

 

 

    

Operating

(in thousands)

 

Leases

2019 (remainder)

 

$

10,280

2020

 

 

12,061

2021

 

 

9,898

2022

 

 

10,335

2023

 

 

10,138

2024

 

 

8,915

Thereafter

 

 

21,858

Total undiscounted cash flows

 

 

83,485

Less imputed interest

 

 

(24,328)

Total lease liability

 

$

59,157

 

Our future minimum lease commitments, net of sub-lease rental income, as of December 30, 2018, under ASC 840, the predecessor to Topic 842, was as follows:

 

 

 

 

 

 

 

 

 

 

 

 

    

Operating

    

Sublease

    

Net Lease

(in thousands)

 

Leases

 

Income

 

Obligation

2019

 

$

16,408

 

$

(4,044)

 

$

12,364

2020

 

 

11,921

 

 

(1,306)

 

 

10,615

2021

 

 

9,797

 

 

(379)

 

 

9,418

2022

 

 

10,178

 

 

(334)

 

 

9,844

2023

 

 

10,160

 

 

(232)

 

 

9,928

Thereafter

 

 

31,139

 

 

 —

 

 

31,139

Total

 

$

89,603

 

$

(6,295)

 

$

83,308

 

 

Summary of minimum lease commitments, net of sub-lease rental income

 

 

 

 

 

 

 

 

 

 

 

    

Operating

    

Sublease

    

Net Lease

(in thousands)

 

Leases

 

Income

 

Obligation

2019

 

$

16,408

 

$

(4,044)

 

$

12,364

2020

 

 

11,921

 

 

(1,306)

 

 

10,615

2021

 

 

9,797

 

 

(379)

 

 

9,418

2022

 

 

10,178

 

 

(334)

 

 

9,844

2023

 

 

10,160

 

 

(232)

 

 

9,928

Thereafter

 

 

31,139

 

 

 —

 

 

31,139

Total

 

$

89,603

 

$

(6,295)

 

$

83,308

 

Summary of weighted average remaining lease terms and discount rates

 

 

 

 

 

 

 

    

March 31, 2019

    

 

 

Operating

 

Financing

 

 

 

Leases

 

Lease

 

Weighted average remaining lease term (years)

 

7.44

 

6.58

 

Weighted average discount rate

 

9.12

%  

10.50

%  

 

Schedule of supplemental cash flow information related to operating leases

 

 

 

 

 

 

Three Months Ended

 

    

March 31,

(in thousands)

 

2019

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

Operating cash outflow from operating leases

 

 $

3,504

Operating cash outflow from financing lease

 

 

20

Financing cash outflow from financing lease

 

 

17

ROU assets obtained in exchange for new operating lease liabilities

 

 

263