Quarterly report pursuant to Section 13 or 15(d)

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

v3.21.1
Operating and Finance Lease Right-of-Use Assets (Tables)
3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases is as follows:

 
 
  
March 31, 2021
 
 
  
(Dollars in thousands)
 
 
  
Related Party
 
  
Other
 
  
Total
 
Operating Leases
  
     
  
     
  
     
Operating leases ROU assets
   $  6,642      $  39,866      $  46,508  
Operating lease liabilities (current)
   $ 938      $ 7,677      $ 8,615  
Operating lease liabilities
(non-current)
     5,860        40,198        46,058  
    
 
 
    
 
 
    
 
 
 
Total operating lease liabilities
   $ 6,798      $ 47,875      $ 54,673  
    
 
 
    
 
 
    
 
 
 
 
Weighted Average Remaining Lease Term
        
Operating leases
     8.2 years  
Finance leases
     3.0 years  
Weighted Average Discount Rate
        
Operating leases
     7.95
Finance leases
     5.39
Components of Lease Expense
Lease Expense
The components of lease expense were as follows:
 
    
Three Months Ended

March 31, 2021
 
    
(Dollars in thousands)
 
Amortization of finance lease ROU Assets
   $ 16  
Interest on finance lease liabilities
     2  
    
 
 
 
Finance lease expense
     18  
Operating lease expense
     3,214  
Variable lease expense
     190  
Short-term lease expense
     157  
    
 
 
 
Total lease expense
   $  3,579  
    
 
 
 
Schedule of other information related to leases
Supplemental cash flow information related to leases was as follows:
 
    
Three Months Ended

March 31, 2021
 
    
(Dollars in thousands)
 
Cash paid for amounts included in the measurement of lease liabilities:
        
Operating cash flows from operating leases
   $ 3,569  
Operating cash flows from finance leases
     1  
Financing cash flows from finance leases
     16  
Leased assets obtained in exchange for new operating lease liabilities
   $ 553  
Leased assets obtained in exchange for new finance lease liabilities
     2  
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 March 31, 2021, are as follows:
 
Future minimum lease    Operating Leases              
     Related Party     Other     Total     Finance Leases     Total  
    
(Dollars in thousands)
 
2021
(Apr-Dec)
   $ 1,466     $ 11,042     $ 12,508     $ 65     $ 12,573  
2022
     1,620       10,744       12,364       57       12,421  
2023
     1,018       9,209       10,227       31       10,258  
2024
     1,014       7,030       8,044       12       8,056  
2025
     1,043       5,928       6,971       4       6,975  
Thereafter
     3,797       24,763       28,560       —         28,560  
    
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Undiscounted Cash Flows
   $ 9,958     $ 68,716     $ 78,674     $ 169     $ 78,843  
    
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Less: imputed interest
     (3,160     (20,841     (24,001     (15     (24,016
    
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
  
$
6,798
 
 
$
47,875
 
 
$
54,673
 
 
$
154
 
 
$
54,827
 
    
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Reconciliation to lease liabilities:
                                        
Lease liabilities—current
   $ 938     $ 7,677     $ 8,615     $ 60     $ 8,675  
Lease liabilities—long-term
     5,860       40,198       46,058       94       46,152  
    
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total Lease Liabilities
  
$
6,798
 
 
$
47,875
 
 
$
54,673
 
 
$
154
 
 
$
54,827