Leases (Tables)
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12 Months Ended |
Dec. 31, 2019 |
Leases [Abstract] |
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Lease, Cost |
The table below summarizes the Company's total lease costs included in its consolidated financial statements, as well as other required quantitative disclosures (in thousands). | | | | | | | | | | As of December 31, 2019 | | | | | | | | Finance lease cost: | | | | Amortization of right-of-use assets | $ | 360 | | | | Interest on lease liabilities | 440 | | | | Total finance lease cost | | $ | 800 | | Operating lease cost | | 12,218 | | Total lease cost | | $ | 13,018 | | | | | Other information: | | | Cash paid for amounts included in the measurement of lease liabilities | | | Operating cash flows for finance leases | | $ | — | | Operating cash flows for operating leases | | $ | 10,060 | | Financing cash flows for finance leases | | $ | (4,503) | | Right-of-use assets obtained in exchange for new finance lease liabilities | | $ | 20,310 | | Right-of-use assets obtained in exchange for new operating lease liabilities | | $ | 47,436 | | Weighted average remaining lease term - finance leases | | 10.6 years | Weighted average remaining lease term - operating leases | | 5.0 years | Weighted average discount rate - finance leases | | 8.6 | % | Weighted average discount rate - operating leases | | 7.4 | % |
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Maturity of Operating Lease Liabilities |
The table below presents the maturity of lease liabilities on an annual basis for the remaining years of the Company's commenced lease agreements (in thousands). | | | | | | | | | | | | Year Ending December 31, | Finance Lease | | Operating Leases | 2020 | $ | 2,938 | | | $ | 13,415 | | 2021 | 2,996 | | | 10,306 | | 2022 | 2,280 | | | 6,000 | | 2023 | 2,080 | | | 6,000 | | 2024 | 3,172 | | | 6,000 | | Thereafter | 18,784 | | | 6,000 | | Total | 32,250 | | | 47,721 | | Less: present value discount | 11,500 | | | 7,373 | | Present value of lease liabilities | $ | 20,750 | | | $ | 40,348 | | Balance Sheet Classification at December 31, 2019: | | | | Current lease liabilities | $ | 1,221 | | | $ | 11,040 | | Long-term lease liabilities | 19,529 | | | 29,308 | | Total lease liabilities | $ | 20,750 | | | $ | 40,348 | |
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Maturity of Finance Lease Liabilities |
The table below presents the maturity of lease liabilities on an annual basis for the remaining years of the Company's commenced lease agreements (in thousands). | | | | | | | | | | | | Year Ending December 31, | Finance Lease | | Operating Leases | 2020 | $ | 2,938 | | | $ | 13,415 | | 2021 | 2,996 | | | 10,306 | | 2022 | 2,280 | | | 6,000 | | 2023 | 2,080 | | | 6,000 | | 2024 | 3,172 | | | 6,000 | | Thereafter | 18,784 | | | 6,000 | | Total | 32,250 | | | 47,721 | | Less: present value discount | 11,500 | | | 7,373 | | Present value of lease liabilities | $ | 20,750 | | | $ | 40,348 | | Balance Sheet Classification at December 31, 2019: | | | | Current lease liabilities | $ | 1,221 | | | $ | 11,040 | | Long-term lease liabilities | 19,529 | | | 29,308 | | Total lease liabilities | $ | 20,750 | | | $ | 40,348 | |
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