Adoption of ASC 842, "Leases" (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of impacts of adoption of ASC 842

The effects of the changes made to the Company’s Condensed Consolidated Balance Sheet as of December 31, 2018 for the adoption of Topic 842 is as follows (in thousands):


		Balance at December 30, 2018		Adjustments due to Topic 842			Balance at December 31, 2018
Assets
Current assets:
Prepaid expenses	$	30,376	$	(4,669)	(a)	$	25,707
Other assets:
Right-of-use assets		-		161,027	(b)		161,027
Liabilities and stockholders' equity (deficit)
Current liabilities:
Current lease liabilities		-		25,348	(c)		25,348
Long-term liabilities:
Long-term lease liabilities		-		137,511	(d)		137,511
Other long-term liabilities		79,324		(6,501)	(e)		72,823

(a)

Represents the amount of first quarter 2019 rents that were prepaid as of December 30, 2018 and reclassified to operating lease right-of-use assets

(b)

Represents the recognition of right-of-use assets, which are calculated as the initial operating lease liabilities, reduced by the year-end 2018 net carrying amounts of prepaid and deferred rent and tenant incentive liabilities

(c)

Represents the current portion of operating lease liabilities

(d)

Represents the recognition of operating lease liabilities, net of current portion

(e)

Represents the net carrying amount of deferred rent liabilities and tenant incentive liabilities, which have been reclassified to operating lease right-of-use assets