LEASES

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

LEASES

LEASES

We have noncancellable operating leases for railcars, buildings, storage tanks, offices, railroad tracks, and land.

	For the Six Months Ended June 30, 2019
Weighted-average discount rate	6.3	%
Weighted average remaining lease term	3.2 years

Our total lease cost consisted of the following items for the dates indicated:

		For the Three Months Ended June 30, 2019			For the Six Months Ended June 30, 2019
	(in thousands)
Operating lease cost		$	1,484		$	2,968
Short term lease cost		52			99
Sublease income		(1,337		)	(2,670		)
Total		$	199		$	397

The maturity analysis below presents the undiscounted cash payments we expect to make each period for property that we lease from others under noncancellable operating leases as of June 30, 2019 (in thousands): 

2019	$	3,039
2020	5,269
2021	4,074
2022	3,787
2023	20
Total lease payments	$	16,189
Less: imputed interest	(1,545		)
Present value of lease liabilities	$	14,644

We serve as an intermediary to assist our customers with obtaining railcars. In connection with our leasing of railcars from third parties, we simultaneously enter into lease agreements with our customers for noncancellable terms that are designed to recover our costs associated with leasing the railcars plus a fee for providing this service. In addition to these leases we also have lease income from storage tanks.

	For the Three Months Ended June 30, 2019		For the Six Months Ended June 30, 2019
	(in thousands, except weighted average term)
Lease income	$	2,314	$	4,609
Weighted average remaining lease term			3.2 years

The maturity analysis below presents the undiscounted future minimum lease payments we expect to receive from customers each period for property they lease from us under noncancellable operating leases as of June 30, 2019 (in thousands): 

2019	$	3,992
2020	6,895
2021	5,752
2022	4,459
Total	$	21,098

Refer to Note 2. Recent Accounting Pronouncements for additional discussion of our lease policies.

LEASES

LEASES

We have noncancellable operating leases for railcars, buildings, storage tanks, offices, railroad tracks, and land.

	For the Six Months Ended June 30, 2019
Weighted-average discount rate	6.3	%
Weighted average remaining lease term	3.2 years

Our total lease cost consisted of the following items for the dates indicated:

		For the Three Months Ended June 30, 2019			For the Six Months Ended June 30, 2019
	(in thousands)
Operating lease cost		$	1,484		$	2,968
Short term lease cost		52			99
Sublease income		(1,337		)	(2,670		)
Total		$	199		$	397

The maturity analysis below presents the undiscounted cash payments we expect to make each period for property that we lease from others under noncancellable operating leases as of June 30, 2019 (in thousands): 

2019	$	3,039
2020	5,269
2021	4,074
2022	3,787
2023	20
Total lease payments	$	16,189
Less: imputed interest	(1,545		)
Present value of lease liabilities	$	14,644

We serve as an intermediary to assist our customers with obtaining railcars. In connection with our leasing of railcars from third parties, we simultaneously enter into lease agreements with our customers for noncancellable terms that are designed to recover our costs associated with leasing the railcars plus a fee for providing this service. In addition to these leases we also have lease income from storage tanks.

	For the Three Months Ended June 30, 2019		For the Six Months Ended June 30, 2019
	(in thousands, except weighted average term)
Lease income	$	2,314	$	4,609
Weighted average remaining lease term			3.2 years

The maturity analysis below presents the undiscounted future minimum lease payments we expect to receive from customers each period for property they lease from us under noncancellable operating leases as of June 30, 2019 (in thousands): 

2019	$	3,992
2020	6,895
2021	5,752
2022	4,459
Total	$	21,098

Refer to Note 2. Recent Accounting Pronouncements for additional discussion of our lease policies.