Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.3
Leases (Tables)
9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Lease Assets and Liabilities
The following table presents the lease balances within the Condensed Consolidated Balance Sheet as of September 30, 2019:
(in thousands)
 
Classification on the Balance Sheet
 
September 30, 2019
Assets
 
 
 
 
Operating lease assets
 
Operating lease right-of-use assets
 
$
35,826

Finance lease assets
 
Property, plant and equipment, net
 
7,308

 
 
 
 
 
Liabilities
 
 
 
 
Current
 
 
 
 
Operating lease liabilities
 
Current maturities of operating leases
 
12,921

Accrued expenses
 
Current maturities of finance leases
 
2,983

Long-term
 
 
 
 
Operating lease liabilities
 
Operating lease liabilities
 
23,318

Other long-term liabilities
 
Finance lease liabilities
 
$
4,325

 
 
 
 
 
Weighted average remaining lease term
 
 
 
 
Operating leases
 
 
 
2.6 years

Finance leases
 
 
 
2.4 years

Weighted average discount rate
 
 
 
 
Operating leases
 
 
 
5.7
%
Finance leases
 
 
 
4.9
%

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 September 30, 2019:
(in thousands)
 
Operating
Finance
October 1, 2019 through December 31, 2019
 
$
3,938

$
923

2020
 
11,929

2,845

2021
 
8,471

2,133

2022
 
5,700

1,077

2023
 
4,294

486

Thereafter
 
7,215

203

Total undiscounted future minimum lease payments
 
41,547

7,667

Less: Difference between lease payments and discounted lease liabilities
 
5,308

360

Total lease liabilities
 
$
36,239

$
7,307


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 September 30, 2019:
(in thousands)
 
Operating
Finance
October 1, 2019 through December 31, 2019
 
$
3,938

$
923

2020
 
11,929

2,845

2021
 
8,471

2,133

2022
 
5,700

1,077

2023
 
4,294

486

Thereafter
 
7,215

203

Total undiscounted future minimum lease payments
 
41,547

7,667

Less: Difference between lease payments and discounted lease liabilities
 
5,308

360

Total lease liabilities
 
$
36,239

$
7,307


Lease Cash Flows
Supplemental cash flow information is as follows:
(in thousands)
 
Nine months ended September 30, 2019
Operating cash out flows from operating leases
 
$
15,664

Operating cash out flows from finance leases
 
306

Financing cash out flows from finance leases
 
2,165

Total
 
$
18,135