XML 50 R39.htm IDEA: XBRL DOCUMENT

Leases Leases (Tables)

6 Months Ended

Jun. 30, 2019

The following table presents information related to our total lease cost included in our condensed consolidated statements of income:



		Three Months Ended				Six Months Ended
		June 30,				June 30,
( in thousands)	Classification	2019		2018		2019		2018
Operating lease cost ⁽¹⁾	Operations expense	$	654	$	698	$	1,288	$	1,805
Finance lease cost:
Amortization of lease assets	Depreciation and amortization	249		361		650		719
Interest on lease liabilities	Interest expense	1		14		5		31
Net lease cost		$	904	$	1,073	$	1,943	$	2,555

⁽¹⁾ Includes short-term leases and variable lease costs, which are immaterial

Schedule of Leases Reported on Consolidated Statement of Financial Position [Table Text Block]

The following table presents the balance and classifications of our right of use assets and lease liabilities included in our condensed consolidated balance sheet at June 30, 2019:



(in thousands)	Balance sheet classification	Amount
Assets
Operating lease assets	Operating lease right-of-use assets	$	12,404
Total lease assets		$	12,404
Liabilities
Current
Operating lease liabilities	Other accrued liabilities	$	1,704
Noncurrent
Operating lease liabilities	Operating lease - liabilities	10,710
Total lease liabilities		$	12,414

Leases, Weighted Average Remaining Lease Term [Table Text Block]

The following table presents our weighted-average remaining lease terms and weighted-average discount rates for our operating and financing leases at June 30, 2019:



	At June 30, 2019
Weighted-average remaining lease term (in years)
Operating leases	9.13
Weighted-average discount rate
Operating leases	3.8	%

Lease, Cash Flow [Table Text Block]

The following table presents additional information related to cash paid for amounts included in the measurement of lease liabilities included in our condensed consolidated statements of cash flows as of June 30, 2019 and June 30, 2018:



	Six Months Ended
	June 30,
(in thousands)	2019		2018
Operating cash flows from operating leases	$	1,100	$	1,715
Operating cash flows from finance leases	$	5	$	31
Financing cash flows from finance leases	$	650	$	719

Schedule of Maturities of Leases [Table Text Block]

The following table presents the future undiscounted maturities of our operating and financing leases at June 30, 2019 and for each of the next five years and thereafter:



(in thousands)	Operating Leases ⁽¹⁾		Finance Leases		Total
Remainder of 2019	$	1,089	$	—	$	1,089
2020	2,091		—		2,091
2021	1,852		—		1,852
2022	1,691		—		1,691
2023	1,695		—		1,695
2024	1,451		—		1,451
Thereafter	4,916		—		4,916
Total lease payments	$	14,785	$	—	$	14,785
Less: Interest	2,371		—		2,371
Present value of lease liabilities	$	12,414	$	—	12,414

⁽¹⁾ Operating lease payments include $3.9 million related to options to extend lease terms that are reasonably certain of being exercised.

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

The following table presents future minimum lease payments for our operating leases at December 31, 2018 under ASC 840 and is being presented for comparative purposes:



Year(s)	2019	2020	2021	2022	2023	Thereafter	Total
(in thousands)
Expected payments	$2,349	$1,998	$1,761	$1,689	$1,642	$5,398	$14,837