Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Summary of Components of Lease Costs

The following table summarizes the components of lease costs (in thousands):

	Year Ended December 31,
	2020		2019
Operating lease cost	$	7,693	$	7,638
Finance lease cost
Amortization of right-of-use assets		989		831
Interest on lease liabilities		432		430
Variable lease cost		1,336		1,329
Total lease cost	$	10,450	$	10,228

Summary of Balance Sheet Information Related to Leases

The following table provides the details of balance sheet information related to leases as of the date indicated (in thousands, except lease term and discount rate):

	December 31,
	2020			2019
Operating leases
Operating lease right-of-use assets	$	34,444		$	35,180
Current portion of operating lease liabilities	$	6,188		$	5,043
Operating lease liabilities		32,802			34,108
Total operating lease liabilities	$	38,990		$	39,151
Finance leases
Property, plant and equipment, gross	$	19,819		$	19,748
Accumulated depreciation		(4,934	)		(4,649	)
Finance lease assets included in property, plant and equipment, net	$	14,885		$	15,099
Accrued expenses and other current liabilities	$	9,720		$	1,307
Other liabilities		5,908			14,845
Total finance lease liabilities	$	15,628		$	16,152
Weighted-average remaining lease term (in years)
Operating leases		9.3			10.2
Finance leases		3.5			4.7
Weighted-average discount rate
Operating leases		5.50	%		5.60	%
Finance leases		3.00	%		3.09	%

Summary of Cash Flow Information Related to Leases

The following table provides the details of cash flow information related to leases (in thousands):

	Year Ended December 31,
	2020		2019
Cash paid for amounts included in lease liabilities:
Operating cash flows from finance leases	$	432	$	430
Operating cash flows from operating leases	$	6,760	$	7,768
Financing cash flows from finance leases	$	1,321	$	868
Supplemental non-cash information:
Right-of-use assets obtained in exchange for new operating lease liabilities	$	4,290	$	7,723
Right-of-use assets obtained in exchange for new finance lease liabilities	$	-	$	9,209

Future Minimum Lease Payments Under Operating and Finance Leases

Future minimum lease payments under operating and finance leases expiring subsequent to December 31, 2020, including operating leases associated with facilities that have been vacated as a result of the Company’s restructuring actions, are summarized as follows (in thousands):

Year Ended December 31,	Operating Leases			Finance Leases(1)
2021	$	7,297		$	10,060
2022		6,937			907
2023		5,782			930
2024		4,811			954
2025		4,809			954
Thereafter		22,037			3,487
Total minimum lease payments		51,673			17,292
Less: interest		(12,683	)		(1,664	)
Present value of lease liabilities	$	38,990		$	15,628

(1) Future minimum lease payments under finance leases include the exercise price of an option to purchase a facility in Germany exercised by the Company in December 2020 and expected to close in March 2021.