Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Supplemental cash flow information related to leases

The following table shows supplemental cash flow information related to leases for the three months of March 31, 2019:

	Amount
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	577
Financing cash flows for finance leases	985
Lease liabilities recognized in exchange for new operating lease right of use assets	5

Schedule of lease assets and liabilities

The following table shows information about our lease assets and liabilities included in our Unaudited Condensed Consolidated Balance Sheet as of March 31, 2019:

	Classification on the Consolidated Balance Sheet	March 31, 2019
		(In thousands)
Assets
Operating right of use assets	Right of use assets	$	4,551
Finance right of use assets	Property, plant, and equipment, net	18,886
Total right of use assets		$	23,437
Liabilities
Current liabilities:
Operating lease liabilities	Current operating lease liabilities	$	2,369
Finance lease liabilities	Current portion of other long-term liabilities	4,041
Non-current liabilities:
Operating lease liabilities	Operating lease liabilities	1,952
Finance lease liabilities	Other long-term liabilities	6,354
Total lease liabilities		$	14,716

Schedule of lease costs

The following table shows certain information related to the lease costs for our finance and operating leases for the three months ended March 31, 2019:

	Amount
	(In thousands)
Components of total lease cost:
Amortization of finance leased assets	$	985
Interest on finance lease liabilities	111
Operating lease cost	598
Short-term lease cost (1)	9,974
Variable lease cost	106
Total lease cost	$	11,774

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1.Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $5.7 million.

Schedule of weighted average discount rate for leases

The following table shows certain information related to the weighted average remaining lease terms and the weighted average discount rates for our operating and finance leases:

	Weighted Average Remaining Lease Term	Weighted average discount rate (1)
	(In years)
Operating leases	2.5	6.18%
Finance leases	2.4	4.00%

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1.Our weighted average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease.

Operating leases

The following table sets forth the maturity of our operating lease liabilities as of March 31, 2019:

	Amount
	(In thousands)
Ending April 1,
2020	$	2,582
2021	1,409
2022	550
2023	12
2024	12
2025 and beyond	84
Total future payments	4,649
Less: Interest	328
Present value of future minimum operating lease payments	4,321
Less: Current portion	2,369
Total long-term operating lease payments	$	1,952

Finance leases

The following table sets forth the maturity of our finance lease liabilities as of March 31, 2019:

	Amount
Ending April 1,	(In thousands)
2020	$	6,195
2021	7,841
2022	579
Total future payments	14,615
Less payments related to:
Maintenance	3,695
Interest	525
Present value of future minimum finance lease payments	10,395
Less: Current portion	4,041
Total long-term finance lease payments	$	6,354