Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.2
Leases (Tables)
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Lease Assets and Liabilities
The following table presents the lease balances within the Condensed Consolidated Balance Sheet as of June 30, 2019:
(in thousands)
 
Classification on the Balance Sheet
 
June 30, 2019
Assets
 
 
 
 
Operating lease assets
 
Operating lease right-of-use assets
 
$
29,640

Finance lease assets
 
Property, plant and equipment, net
 
7,681

 
 
 
 
 
Liabilities
 
 
 
 
Current
 
 
 
 
Operating lease liabilities
 
Current maturities of operating leases
 
13,376

Accrued expenses
 
Current maturities of finance leases
 
3,031

Long-term
 
 
 
 
Operating lease liabilities
 
Operating lease liabilities
 
16,673

Other long-term liabilities
 
Finance lease liabilities
 
$
4,650

 
 
 
 
 
Weighted average remaining lease term
 
 
 
 
Operating leases
 
 
 
2.1 years

Finance leases
 
 
 
2.5 years

Weighted average discount rate
 
 
 
 
Operating leases
 
 
 
4.3
%
Finance leases
 
 
 
4.5
%

Lease Liability Maturity
The following table reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under noncancelable operating leases with terms of more than one year to the total operating lease liabilities recognized on our Condensed Consolidated Balance Sheet as of June 30, 2019:
(in thousands)
 
Operating
Finance
July 1, 2019 through December 31, 2019
 
$
7,968

$
1,661

2020
 
10,169

2,649

2021
 
6,678

1,938

2022
 
3,754

960

2023
 
2,329

368

Thereafter
 
2,096

419

Total undiscounted future minimum lease payments
 
32,994

7,995

Less: Difference between lease payments and discounted lease liabilities
 
2,945

314

Total lease liabilities
 
$
30,049

$
7,681


Lease Liability Maturity
The following table reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under noncancelable operating leases with terms of more than one year to the total operating lease liabilities recognized on our Condensed Consolidated Balance Sheet as of June 30, 2019:
(in thousands)
 
Operating
Finance
July 1, 2019 through December 31, 2019
 
$
7,968

$
1,661

2020
 
10,169

2,649

2021
 
6,678

1,938

2022
 
3,754

960

2023
 
2,329

368

Thereafter
 
2,096

419

Total undiscounted future minimum lease payments
 
32,994

7,995

Less: Difference between lease payments and discounted lease liabilities
 
2,945

314

Total lease liabilities
 
$
30,049

$
7,681


Lease Cash Flows
Supplemental cash flow information is as follows:
(in thousands)
 
Six months ended June 30, 2019
Operating cash flows from operating leases
 
$
10,804

Operating cash flows from finance leases
 
234

Financing cash flows from finance leases
 
1,590

Total
 
$
12,628