Annual report pursuant to Section 13 and 15(d)

Operating and Finance Lease Right-of-Use Assets (Tables)

v3.20.1
Operating and Finance Lease Right-of-Use Assets (Tables)
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases was as follows:
 
    
December 31, 2019
 
    
(Dollars in thousands)
 
Operating Leases
 
  
Related
Party
     Other      Total  
Operating leases ROU assets
   $ 7,964      $ 46,586      $ 54,550  
Operating lease liabilities (current)
   $ 971      $ 7,514      $ 8,485  
Operating lease liabilities
(non-current)
     7,210        46,840        54,050  
  
 
 
    
 
 
    
 
 
 
Total operating lease liabilities
   $ 8,181      $ 54,354      $ 62,535  
  
 
 
    
 
 
    
 
 
 
 
Weighted Average Remaining Lease Term
  
Operating leases
     8.6 years  
Finance leases
     3.4 years  
Weighted Average Discount Rate
  
Operating leases
     8.21
%
 
Finance leases
     4.61
%
 
Components of Lease Expense
The components of lease expense were as follows:
 
    
Twelve Months
Ended
December 31, 2019
 
    
(Dollars
 in
 thousands)
 
Amortization of finance lease ROU Assets
   $ 96  
Interest on finance lease liabilities
     9  
  
 
 
 
Finance lease expense
     105  
Operating lease expense
     13,845  
Variable lease expense
     922  
Short-term lease expense
     822  
  
 
 
 
Total lease expense
   $ 15,694  
  
 
 
 
Schedule of other information related to leases
Supplemental cash flow information related to leases was as follows:
 
    
Twelve Months
Ended
December 31, 2019
 
    
(Dollars in thousands)
 
Cash paid for amounts included in the measurement of lease liabilities:
  
Operating cash flows from operating leases
   $ 14,279  
Operating cash flows from finance leases
     8  
Financing cash flows from finance leases
     83  
 
 
 
 
 
Leased assets obtained in exchange for new operating lease liabilities
   $ 1,882  
Leased assets obtained in exchange for new finance lease liabilities
     24  
Schedule of Future Minimum Lease Payments
Future minimum lease payments under leases that had initial or remaining
non-cancelable
lease terms in excess of one year as of December 31, 2019, are as follows:
 
     Operating Leases                
    
Related
Party
     Other      Total     
Finance
Leases
     Total  
    
(Dollars in thousands)
 
2020
   $ 1,601     
$
12,637     
$
14,238     
$
75     
$
14,313  
2021
     1,619        11,481        13,100        55        13,155  
2022
     1,613        9,935        11,548        46        11,594  
2023
     1,169        8,858        10,027        25        10,052  
2024
     1,015        6,497        7,512        7        7,519  
Thereafter
     5,097        30,863        35,960               35,960  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Undiscounted Cash Flows
   $ 12,114     
$
80,271     
$
92,385     
$
208     
$
92,593  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Less: imputed interest
     (3,933      (25,917      (29,850      (15      (29,865
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total
   $ 8,181     
$
54,354     
$
62,535     
$
193     
$
62,728  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Reconciliation to lease liabilities:
              
Lease liabilities—current
   $ 971     
$
7,514     
$
8,485     
$
69     
$
8,554  
Lease liabilities—long-term
     7,210        46,840        54,050        124        54,174  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total Lease Liabilities
   $ 8,181     
$
54,354     
$
62,535     
$
193     
$
62,728  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Schedule of Future Minimum Lease Payments Based on Former Accounting Guidance
Future minimum lease payments under leases that had initial or remaining
non-cancelable
lease terms in excess of one year as of December 31, 2018, based on the former accounting guidance for leases, were as follows:
 
     Operating Leases                
     Related Party      Other      Total      Finance Leases      Total  
           
(Dollars
 in
 thousands)
 
2019
   $ 1,730      $ 11,633      $ 13,363      $ 58      $ 13,421  
2020
     1,763        11,592        13,355        39        13,394  
2021
     1,767        10,596        12,363        31        12,394  
2022
     1,730        9,490        11,220        27        11,247  
2023
     1,234        8,584        9,818        8        9,826  
Thereafter
     13,364        48,109        61,473               61,473  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
   $ 21,588      $ 100,004      $ 121,592      $ 163      $ 121,755