Leases (Tables)

3 Months Ended

Jun. 30, 2020

The following table provides a summary of leases included on the condensed consolidated balance sheets June 30, 2020, 2019 and December 31, 2019, condensed consolidated statements of earnings, and condensed consolidated statements of cash flows as of three month and six month ended June 30, 2020 and 2019:



	Condensed Consolidated Balance Sheets Line Item	June 30,			June 30,			December 31,
(in thousands)		2020			2019			2019
Operating leases
Assets
Operating leases	Operating lease right-of-use assets	$	36,930		$	35,111		$	35,436
Liabilities
Operating - current	Accrued expenses and other current liabilities	$	8,099		$	6,647		$	7,392
Operating - noncurrent	Operating lease liabilities	28,893			28,164			27,930
Total operating lease liabilities		$	36,992		$	34,811		$	35,322

Finance leases
Assets
Property and equipment, gross	Property, plant and equipment, net	$	3,569		$	3,569		$	3,569
Accumulated amortization	Property, plant and equipment, net	(2,953		)	(2,417		)	(2,739		)
Property and equipment, net	Property, plant and equipment, net	$	616		$	1,152		$	830
Liabilities
Other current liabilities	Accrued expenses and other current liabilities	$	998		$	1,107		$	1,125
Other long-term liabilities	Deferred income tax and other long-term liabilities	—			1,047			386
Total finance lease liabilities		$	998		$	2,154		$	1,511

Lease, Cost

The following table summarizes the Company's lease terms and discount rates as of June 30, 2020 and 2019:



Weighted-average remaining lease terms (in years):	2020		2019
Operating leases	6.59		6.92
Finance leases	0.95		1.93
Weighted-average discount rate:
Operating leases	5.36	%	5.37	%
Finance leases	3.25	%	3.22	%

The components of lease expense were as follows:



	Condensed Consolidated Statements of Operations Line Item	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)		2020		2019		2020		2019
Operating lease cost	General administrative expenses and cost of sales	$	2,625	$	2,272	$	5,051	$	4,426

Finance lease cost:
Amortization of right-of-use assets	General administrative expenses	$	218	$	218	$	436	$	436
Interest on lease liabilities	Interest expense, net	9		18		21		38
Total finance lease		$	227	$	236	$	457	$	474

Operating Lease, Liability, Maturity

The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2020:



(in thousands)	Finance Leases		Operating Leases
Remaining six months of 2020	$	580	$	5,112
2021	433		9,191
2022	—		7,108
2023	—		5,088
2024	—		3,956
Thereafter	—		13,740
Total lease payments	1,013		44,195
Less: Present value discount	15		7,203
Total lease liabilities	$	998	$	36,992

Finance Lease, Liability, Maturity

The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2020:



(in thousands)	Finance Leases		Operating Leases
Remaining six months of 2020	$	580	$	5,112
2021	433		9,191
2022	—		7,108
2023	—		5,088
2024	—		3,956
Thereafter	—		13,740
Total lease payments	1,013		44,195
Less: Present value discount	15		7,203
Total lease liabilities	$	998	$	36,992