Leases (Tables)

6 Months Ended

Jun. 30, 2019

Summary of net lease expense

The components of the Company’s net lease expense for the three and six months ended June 30, 2019 were as follows:

(dollars in thousands)	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Operating lease expense	$	2,340	$	4,655
Short-term lease expense		77		275
Variable lease expense		329		1,046
Finance lease expense:
Amortization of right-of-use assets		1		1
Interest on lease liabilities		—		1
Total finance lease expense		1		2
Less: Sublease income		(249)		(498)
Net lease expense	$	2,498	$	5,480

Summary of other information related to the Company's lease liabilities

(dollars in thousands)	Six Months Ended June 30, 2019
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	3,426
Operating cash flows paid for finance leases		61
Financing cash flows paid for finance leases		—
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	680
Weighted Average Remaining Lease Term
Operating leases		15.2 years
Finance leases		3.0 years
Weighted Average Discount Rate
Operating leases		3.42	%
Finance leases		6.78	%

Summary of future minimum rental payments under noncancellable leases

The following table sets forth future minimum rental payments under noncancelable leases with terms in excess of one year as of June 30, 2019:

	Net Operating
	Lease
(dollars in thousands)	Payments
Year ending December 31:
2019 (excluding the six months ended June 30, 2019)	$	5,360
2020		8,667
2021		7,977
2022		5,346
2023		2,854
Thereafter		34,853
Total future minimum lease payments		65,057
Less: Imputed interest		(16,737)
Total	$	48,320

The following table presents future minimum rental payments under leases with terms in excess of one year as of December 31, 2018 presented in accordance with ASC Topic 840, “Leases”:

	Operating		Less		Net Operating
	Lease		Sublease		Lease
(dollars in thousands)	Payments		Income		Payments
Year ending December 31:
2019	$	8,780	$	903	$	7,877
2020		8,668		903		7,765
2021		7,961		892		7,069
2022		5,101		—		5,101
2023		2,632		—		2,632
Thereafter		34,638		—		34,638
Total future minimum lease payments	$	67,780	$	2,698	$	65,082

Summary of future minimum rental income under noncancellable operating leases

	Minimum
	Rental
(dollars in thousands)	Income
Year ending December 31:
2019 (excluding the six months ended June 30, 2019)	$	2,926
2020		5,747
2021		5,438
2022		3,719
2023		2,795
Thereafter		5,049
Total	$	25,674