Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

NOTE 11 – Leases

The Company leases certain assets used in its business, including land, buildings and equipment.  These leased assets are used for operational and administrative purposes.

The components of lease expense are set forth in the table below:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Operating lease expense	$	3,669	$	3,773	$	7,399	$	7,477
Finance lease expense:
Amortization of assets		209		245		418		489
Interest on lease liabilities		6		13		13		28
Short-term lease expense		122		98		216		134
Variable lease expense		738		802		1,449		1,420
Total lease expense	$	4,744	$	4,931	$	9,495	$	9,548

The table below sets forth supplemental balance sheet information related to leases.  In our condensed consolidated balance sheets, ROU assets are included in other long-term assets while lease liabilities are located in accrued liabilities and other for the current portion and other long-term liabilities for the non-current portion:

	June 30, 2020	December 31, 2019
Operating leases:
Operating lease ROU assets	$51,739	$57,427
Current operating lease liabilities	11,417	12,554
Noncurrent operating lease liabilities	22,933	27,545
Total operating lease liabilities	$34,350	$40,099
Finance leases:
Finance lease ROU assets	$2,507	$3,396
Accumulated amortization	(1,880)	(1,924)
Finance lease ROU assets, net	$627	$1,472
Current finance lease liabilities	$593	$903
Non-current finance lease liabilities	–	138
Total finance lease liabilities	$593	$1,041
Weighted average remaining lease term (in years):
Operating leases	4.2	4.4
Finance leases	0.8	1.3
Weighted average discount rate:
Operating leases	3.9%	3.8%
Finance leases	3.0%	3.0%

The table below sets forth supplemental cash flow and other information related to leases:

	Six Months Ended	Six Months Ended
	June 30, 2020	June 30, 2019
Cash paid for the amounts included in the measurements of lease liabilities:
Operating cash outflows from operating leases	$9,753	$10,154
Operating cash outflows from finance leases	13	28
Financing cash outflow from finance leases	445	588
ROU assets obtained in exchange for lease liabilities incurred:
Operating leases	532	3,198

The table below sets forth information about lease liability maturities:

	June 30, 2020
	Operating Leases		Finance Leases
Remainder of 2020	$	6,955	$	461
2021		10,150		139
2022		8,371		-
2023		4,501		-
2024		2,382		-
2025		2,288		-
2026 and thereafter		2,578	-
Total lease payments		37,225		600
Less: imputed interest		(2,875)		(7)
Total lease obligations		34,350		593
Less: current obligations		(11,417)		(593)
Long-term lease obligations	$	22,933	$	0