XML 27 R16.htm IDEA: XBRL DOCUMENT v3.20.2
Leases
6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Leases
10.
LEASES
The Company leases office space, storage warehouses and certain plant equipment under various operating leases. The Company’s operating leases have remaining lease terms of 1 year to 8 years. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.
For the six months ended June 30, 2020 and June 30, 2019, total operating lease
expense
 was $4.3 million and $4.2 million, respectively. The weighted average remaining lease term at June 30, 2020 and December 31, 2019 was 6 years and 6.5 years, respectively. The weighted average discount rate at June 30, 2020 and December 31, 2019 was 3.64% and 3.66%, respectively.
The following table includes supplemental cash flow information for the six months ended June 30, 2020 and June 30, 2019 and supplemental balance sheet information at June 30, 2020 and December 31, 2019 related to operating leases (in thousands):
 
Six Months Ended
 
Supplemental cash flow information
 
June 30,
2020
 
 
June 30,
2019
 
Cash paid for amounts included in the measurement of operating lease liabilities
  $
4,258
    $
4,242
 
Operating ROU assets obtained in exchange for lease liabilities
  $
290
    $
388
 
Supplemental balance sheet information
 
June 30,
2020
 
 
December 31,
2019
 
Operating lease ROU assets
 
$
36,926
 
 
$
40,049
 
 
 
 
 
 
 
 
Operating lease liabilities:
 
 
 
 
 
 
Accrued expenses and other current liabilities
 
$
7,306
 
 
$
7,079
 
Operating lease liabilities
 
 
30,776
 
 
 
34,242
 
Total operating lease liabilities
 
$
38,082
 
 
$
41,321
 
The following table summarizes maturities of operating lease liabilities at June 30, 2020 (in thousands):
 
Maturities of operating lease liabilities
 
 
2020
  $
4,284
 
2021
   
8,398
 
2022
   
6,530
 
2023
   
6,138
 
2024
   
6,158
 
Thereafter
   
11,079
 
         
Total lease payments
   
42,587
 
Less imputed interest
   
(4,505
)
 
         
Total operating liabilities
  $
 
 
38,082