Leases (Tables)

6 Months Ended

Jun. 30, 2020

Right-of-use Assets and Lease Liabilities

As of June 30, 2020 and December 31, 2019, the Company had the following right-of-use assets and lease liabilities within the Company’s Condensed Consolidated Balance Sheets:


		June 30, 2020		December 31, 2019
Assets	Balance Sheet Classification
Financing lease assets	Property, plant, and equipment, net	$	6,462	$	9,718
Operating lease right-of-use assets	Other non-current assets	6,857		8,678
Total lease assets		$	13,319	$	18,396

Liabilities	Balance Sheet Classification
Financing lease liabilities - current	Current portion of long-term debt	$	3,371	$	3,275
Operating lease liabilities - current	Accrued expenses and other current liabilities	1,067		1,813
Financing lease liabilities - long-term	Long-term debt	2,969		4,674
Operating lease liabilities - long-term	Other non-current liabilities	5,790		6,866
Total lease liabilities		$	13,197	$	16,628

Lease Costs and Other Information

Total lease costs and other lease information for the three and six months ended June 30, 2020 and 2019 included the following:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Lease cost ⁽¹⁾
Finance lease cost:
Amortization of leased assets	$	871	$	1,013	$	1,741	$	1,653
Interest on lease liabilities	92		214		196		258
Operating lease cost	515		191		1,094		1,330
Short-term lease cost	354		541		875		980
Total lease cost	$	1,832	$	1,959	$	3,906	$	4,221

⁽¹⁾ The Company had no variable lease costs or sublease income for the six months ended June 30, 2020 and 2019.


	Six Months Ended June 30,
	2020			2019
Other information
Cash paid for amounts included in the measurement of lease liabilities	$	3,783		$	4,154
Operating cash flows from finance leases	$	200		$	258
Operating cash flows from operating leases	$	1,969		$	2,310
Financing cash flows from finance leases	$	1,614		$	1,586
Right-of-use assets obtained in exchange for new finance lease liabilities	$	46		$	750

Lease Term and Discount Rate
Weighted-average remaining lease term in months - finance leases	25.4			35
Weighted-average remaining lease term in months - operating leases	101			95.9
Weighted-average discount rate - finance leases	5.4		%	4.9		%
Weighted-average discount rate - operating leases	11.4		%	10.9		%

Operating Lease Maturity

The following table summarizes the maturity of the Company’s lease liabilities on an undiscounted cash flow basis and a reconciliation to the lease liabilities recognized in the Company’s Condensed Consolidated Balance Sheet as of June 30, 2020:


	Finance Leases		Operating Leases
Lease cost
Remainder of 2020	$	1,815	$	993
2021	2,985		1,474
2022	1,729		1,355
2023	184		1,119
2024	—		982
Thereafter	—		4,915
Total future minimum lease payments	$	6,713	$	10,838
Imputed interest	(373)		(3,981)
Present value of future minimum lease payments	$	6,340	$	6,857

Finance Lease Maturity


	Finance Leases		Operating Leases
Lease cost
Remainder of 2020	$	1,815	$	993
2021	2,985		1,474
2022	1,729		1,355
2023	184		1,119
2024	—		982
Thereafter	—		4,915
Total future minimum lease payments	$	6,713	$	10,838
Imputed interest	(373)		(3,981)
Present value of future minimum lease payments	$	6,340	$	6,857