Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.1
Leases (Tables)
3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Lease Assets and Liabilities The following table presents the lease balances within the Condensed Consolidated Balance Sheet as of March 31, 2021 and December 31, 2020:
(in thousands) Classification on the Balance Sheet March 31, 2021 December 31, 2020
Assets
Operating lease assets Operating lease right-of-use assets $ 38,631  $ 37,735 
Finance lease assets Property, plant and equipment, net 4,793  5,258 
Liabilities
Current
Operating lease liabilities Current maturities of operating leases 10,305  9,028 
Accrued expenses Current maturities of finance leases 2,287  2,453 
Long-term
Operating lease liabilities Operating lease liabilities 32,394  29,760 
Other long-term liabilities Finance lease liabilities $ 2,506  $ 2,805 
Weighted average remaining lease term
Operating leases 5.8 years 5.4 years
Finance leases 2.4 years 2.3 years
Weighted average discount rate
Operating leases 5.7  % 5.8  %
Finance leases 4.3  % 3.6  %
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 March 31, 2021:
(in thousands) Operating Finance
April 1, 2021 through December 31, 2021 $ 7,492  $ 1,869 
2022 10,666  1,525 
2023 7,471  921 
2024 5,587  571 
2025 3,714  113 
Thereafter 16,364  — 
Total undiscounted future minimum lease payments 51,294  4,999 
Less: Difference between lease payments and discounted lease liabilities 8,595  206 
Total lease liabilities $ 42,699  $ 4,793 
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 March 31, 2021:
(in thousands) Operating Finance
April 1, 2021 through December 31, 2021 $ 7,492  $ 1,869 
2022 10,666  1,525 
2023 7,471  921 
2024 5,587  571 
2025 3,714  113 
Thereafter 16,364  — 
Total undiscounted future minimum lease payments 51,294  4,999 
Less: Difference between lease payments and discounted lease liabilities 8,595  206 
Total lease liabilities $ 42,699  $ 4,793 
Lease Cash Flows
Supplemental cash flow information is as follows:
(in thousands) For the three months ended March 31,
2021 2020
Operating cash out flows from operating leases $ 4,245  $ 4,698 
Operating cash out flows from finance leases 33  45 
Financing cash out flows from finance leases 525  493 
Total $ 4,803  $ 5,236