Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Supplemental cash flow information related to leases

The following table shows supplemental cash flow information related to leases for the nine months of September 30, 2019:

	Amount
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	2,862
Financing cash flows for finance leases	2,984
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 September 30, 2019:

	Classification on the Consolidated Balance Sheet	September 30, 2019
		(In thousands)
Assets
Operating right of use assets	Right of use assets	$	7,315
Finance right of use assets	Property, plant, and equipment, net	17,946
Total right of use assets		$	25,261
Liabilities
Current liabilities:
Operating lease liabilities	Current operating lease liabilities	$	4,291
Finance lease liabilities	Current portion of other long-term liabilities	4,122
Non-current liabilities:
Operating lease liabilities	Operating lease liabilities	2,800
Finance lease liabilities	Other long-term liabilities	4,273
Total lease liabilities		$	15,486

Schedule of lease costs

The following table shows certain information related to the lease costs for our finance and operating leases for the three and nine months ended September 30, 2019:

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2019		2019
	(In thousands)
Components of total lease cost:
Amortization of finance leased assets	$	1,005	$	2,985
Interest on finance lease liabilities	91		302
Operating lease cost	1,267		2,914
Short-term lease cost (1)	10,841		32,857
Variable lease cost	93		283
Total lease cost	$	13,297	$	39,341

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1.Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $7.0 million and $22.0 million, respectively.

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	2.0	6.22%
Finance leases	1.9	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 September 30, 2019:

	Amount
	(In thousands)
Ending October 1,
2020	$	4,609
2021	2,105
2022	635
2023	135
2024	12
2025 and beyond	78
Total future payments	7,574
Less: Interest	483
Present value of future minimum operating lease payments	7,091
Less: Current portion	4,291
Total long-term operating lease payments	$	2,800

Finance leases

The following table sets forth the maturity of our finance lease liabilities as of September 30, 2019:

	Amount
Ending October 1,	(In thousands)
2020	$	6,168
2021	5,310
Total future payments	11,478
Less payments related to:
Maintenance	2,750
Interest	333
Present value of future minimum finance lease payments	8,395
Less: Current portion	4,122
Total long-term finance lease payments	$	4,273