Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Schedule of leases

Leases consisted of the following:

(In thousands)	Balance Sheet Classification	March 31, 2019
Assets:
Operating	Operating lease assets	$	27,653
Finance	Property, plant and equipment, net	1,405
Total lease assets		$	29,058
Liabilities:
Current:
Operating	Accrued liabilities	$	6,964
Finance	Current debt	272
Noncurrent:
Operating	Noncurrent operating lease liabilities	$	21,577
Finance	Long-term debt, less current portion	1,041
Total lease liabilities		$	29,854

Maturity of lease liabilities, finance leases

The maturity of lease liabilities as of March 31, 2019 is as follows:

(In thousands)	Operating Leases		Finance Leases		Total
2019 (remainder of year)	$	6,424	$	245	$	6,669
2020	5,676		327		6,003
2021	4,501		327		4,828
2022	3,699		326		4,025
2023	3,062		219		3,281
Thereafter	9,424		—		9,424
Total lease payments	32,786		1,444		34,230
Less: Interest	4,245		131		4,376
Present value of lease liabilities	$	28,541	$	1,313	$	29,854

Maturity of lease liabilities, operating leases

The maturity of lease liabilities as of March 31, 2019 is as follows:

(In thousands)	Operating Leases		Finance Leases		Total
2019 (remainder of year)	$	6,424	$	245	$	6,669
2020	5,676		327		6,003
2021	4,501		327		4,828
2022	3,699		326		4,025
2023	3,062		219		3,281
Thereafter	9,424		—		9,424
Total lease payments	32,786		1,444		34,230
Less: Interest	4,245		131		4,376
Present value of lease liabilities	$	28,541	$	1,313	$	29,854

Schedule of lease term and discount rate

During the first quarter of 2019, we entered into $1.4 million of new operating lease liabilities in exchange for leased assets.

Lease Term and Discount Rate	March 31, 2019
Weighted-average remaining lease term (years)
Operating leases	6.6
Finance leases	4.4
Weighted-average discount rate
Operating leases	4.3	%
Finance leases	4.6	%