Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases

Summary of net lease expense

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

(dollars in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease expense	$	2,284	$	6,887
Short-term lease expense		111		365
Variable lease expense		795		1,842
Finance lease expense:
Amortization of right-of-use assets		1		2
Interest on lease liabilities		—		1
Total finance lease expense		1		3
Less: Sublease income		(268)		(766)
Net lease expense	$	2,923	$	8,331

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

(dollars in thousands)	Nine Months Ended September 30, 2019
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	7,166
Operating cash flows paid for finance leases		89
Financing cash flows paid for finance leases		10
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	1,401
Weighted Average Remaining Lease Term
Operating leases (years)		15.6
Finance leases (years)		2.8
Weighted Average Discount Rate
Operating leases		3.34	%
Finance leases		6.78	%

Summary of future minimum rental payments under noncancellable leases

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

	Net Operating
	Lease
(dollars in thousands)	Payments
Year ending December 31:
2019 (excluding the nine months ended September 30, 2019)	$	1,635
2020		8,799
2021		8,107
2022		5,477
2023		2,964
Thereafter		34,948
Total future minimum lease payments		61,930
Less: Imputed interest		(16,289)
Total	$	45,641

The following table presents future minimum rental payments under operating leases with terms in excess of one year as of December 31, 2018 presented in accordance with 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 nine months ended September 30, 2019)	$	1,491
2020		5,997
2021		5,989
2022		4,268
2023		3,343
Thereafter		8,132
Total	$	29,220