Leases (Tables)

3 Months Ended

Mar. 31, 2019

The following table includes information regarding the lease term and discount rates utilized in the calculation of the present value of net future minimum lease payments:



	Finance Leases	Operating Leases
Weighted Average Remaining Lease Term	2.3 years	3.0 years
Weighted Average Discount Rate	2.55%	6.16%

The following table includes our expenses and payments for operating leases for the three months ended March 31, 2019:



(Dollars in thousands)	Three Months Ended
	March 31, 2019
Operating leases expense	718
Short-term leases expense	39
Payments on operating lease obligations	764

Assets and Liabilities Balance Related to Finance and Operating Leases

As of March 31, 2019 and December 31, 2018, our assets and liabilities balances related to finance and operating leases were as follows:



(Dollars in thousands)	Location in Statements of Financial Position	March 31, 2019		December 31, 2018
Finance lease right-of-use assets	Property, plant and equipment, net	$	6,534	$	6,750
Operating lease right-of-use assets	Other long-term assets	$	6,235	$	—

Finance lease obligations, current portion	Other accrued liabilities	$	415	$	420
Finance lease obligations, non-current portion	Other long-term liabilities	$	4,437	$	4,629
Total finance lease obligations		$	4,852	$	5,049

Operating lease obligations, current portion	Other accrued liabilities	$	2,611	$	—
Operating lease obligations, non-current portion	Other long-term liabilities	$	3,641	$	—
Total operating lease obligations		$	6,252	$	—

Finance Lease, Liability, Maturity

The following table includes future minimum lease payments under finance and operating leases together with the present value of the net future minimum lease payments as of March 31, 2019:



(Dollars in thousands)	Finance			Operating
	Leases			Leases Signed			Less: Leases Not Yet Commenced			Leases
2019	$	407		$	2,219		$	(233	)	$	1,986
2020	515			2,684			(309		)	2,375
2021	4,186			1,563			(78		)	1,485
2022	—			792			—			792
2023	—			205			—			205
Thereafter	—			22			—			22
Total Lease Payments	5,108			7,485			(620		)	6,865
Less: Interest	(256		)	(648		)	35			(613		)
Present Value of Net Future Minimum Lease Payments	$	4,852		$	6,837		$	(585	)	$	6,252

Operating Lease, Liability, Maturity

The following table includes future minimum lease payments under finance and operating leases together with the present value of the net future minimum lease payments as of March 31, 2019:



(Dollars in thousands)	Finance			Operating
	Leases			Leases Signed			Less: Leases Not Yet Commenced			Leases
2019	$	407		$	2,219		$	(233	)	$	1,986
2020	515			2,684			(309		)	2,375
2021	4,186			1,563			(78		)	1,485
2022	—			792			—			792
2023	—			205			—			205
Thereafter	—			22			—			22
Total Lease Payments	5,108			7,485			(620		)	6,865
Less: Interest	(256		)	(648		)	35			(613		)
Present Value of Net Future Minimum Lease Payments	$	4,852		$	6,837		$	(585	)	$	6,252