Leases

6 Months Ended

Jun. 30, 2020

Note 12 – Leases

The Company has operating leases for office, manufacturing and research and development facilities, as well as land leases for certain manufacturing facilities that are accounted for as operating leases. The Company also has operating leases for office equipment and automobiles. Excluding land leases, our leases have remaining lease terms ranging from less than one year to twelve years and may include options to extend the lease for an additional term equal to the original term of the lease. Land leases have remaining lease terms that range from 40 to 43 years and some which specify that the end of the lease term is at the discretion of the lessee. The Company does not have lease arrangements with related parties.

Components of lease expense for the three and six months ended June 30, 2020 and 2019 were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Lease cost:
Operating lease cost	$	1,637		$	1,570		$	3,223		$	2,903
Short-term lease cost		390			930			899			1,885
Sublease income		(39	)		(39	)		(79	)		(52	)
Total lease cost	$	1,988		$	2,461		$	4,043		$	4,736

Other information related to leases is as follows:

	Six Months Ended June 30,
	2020			2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	3,294		$	2,966
Right-of-use lease assets obtained in exchange for lease obligations:
Operating leases	$	5,477		$	3,004
Gain on sale and leaseback transactions, net	$	—		$	207
	June 30, 2020			June 30, 2019
Weighted average remaining lease term:
Operating leases	6.7 years			4.7 years
Weighted average discount rate:
Operating leases		5.08	%		5.40	%

A summary of operating leases as of June 30, 2020, under all non-cancellable operating leases with terms exceeding one year is as follows:

2020 (excluding the six months ended June 30, 2020)	$	2,691
2021		4,263
2022		2,083
2023		1,269
2024		1,259
2025 or later		5,487
Total future minimum lease payments		17,052
Less imputed interest		(2,771	)
Total	$	14,281