Leases (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
Leases [Abstract] |
|
Schedule of Components of Lease Expense |
The components of lease expense were as follows:
(table only in thousands) |
|
December 31, 2019 |
|
Operating lease cost (a) |
|
$ |
3,612 |
|
Finance lease cost: |
|
|
|
|
Amortization of right-of-use assets |
|
|
309 |
|
Interest on lease liability |
|
|
360 |
|
Total finance lease cost |
|
|
669 |
|
Total lease cost |
|
$ |
4,281 |
|
(a) includes variable lease costs which are immaterial |
|
|
|
|
|
Summary of Supplemental Cash Flow Information Related to Leases |
Supplemental cash flow information related to leases was as follows:
(table only in thousands) |
|
December 31, 2019 |
|
Cash paid for amounts included in the measurement of lease liabilities |
|
|
|
|
Operating cash flows from operating leases |
|
$ |
3,453 |
|
Operating cash flows from finance leases |
|
$ |
360 |
|
Financing cash flows from finance leases |
|
$ |
478 |
|
Right of use assets obtained in exchange for lease obligations |
|
|
|
|
Operating leases |
|
$ |
3,547 |
|
|
Summary of Supplemental Balance Sheet Information Related to Leases |
Supplemental balance sheet information related to leases was as follows:
(table only in thousands) |
|
December 31, 2019 |
|
Operating leases |
|
|
|
|
Right-of-use assets from operating leases |
|
$ |
13,607 |
|
|
|
|
|
|
Accounts payable and accrued expenses |
|
$ |
2,610 |
|
Operating lease liabilities |
|
|
11,116 |
|
Total operating lease liabilities |
|
$ |
13,726 |
|
|
|
|
|
|
Finance leases |
|
|
|
|
Property, plant and equipment, net |
|
$ |
3,255 |
|
|
|
|
|
|
Accounts payable and accrued expenses |
|
$ |
516 |
|
Other liabilities |
|
|
7,340 |
|
Total finance lease liabilities |
|
$ |
7,856 |
|
|
Schedule of Lease Terms and Discount Rate |
Weighted-average remaining lease term |
|
|
|
|
Operating leases |
|
9 years |
|
Finance leases |
|
12 years |
|
Weighted-average discount rate |
|
|
|
|
Operating leases |
|
5.3% |
|
Finance leases |
|
4.5% |
|
|
Schedule of Maturities of Lease Liabilities |
As of December 31, 2019, maturities of lease liabilities were as follows:
(table only in thousands) |
|
Operating Leases |
|
|
Finance Leases |
|
2020 |
|
|
3,161 |
|
|
|
855 |
|
2021 |
|
|
2,756 |
|
|
|
872 |
|
2022 |
|
|
2,103 |
|
|
|
889 |
|
2023 |
|
|
1,944 |
|
|
|
907 |
|
2024 |
|
|
1,778 |
|
|
|
925 |
|
Thereafter |
|
|
4,810 |
|
|
|
5,484 |
|
Total minimum lease payments |
|
$ |
16,552 |
|
|
$ |
9,932 |
|
Less imputed interest |
|
|
(2,826 |
) |
|
|
(2,076 |
) |
Lease liability |
|
$ |
13,726 |
|
|
$ |
7,856 |
|
|
Schedule of Future Minimum Lease Payments for Operating Leases |
As previously disclosed in our Annual Report on Form 10-K, for the year ended December 31, 2018 and under previous lease accounting standards, future minimum lease payments for operating leases having initial or remaining noncancelable lease terms in excess of one year would have been as follows:
(table only in thousands) |
|
December 31, 2018 |
|
2019 |
|
$ |
2,745 |
|
2020 |
|
|
1,880 |
|
2021 |
|
|
1,454 |
|
2022 |
|
|
931 |
|
2023 |
|
|
851 |
|
Thereafter |
|
|
2,278 |
|
Total |
|
$ |
10,139 |
|
|