Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.20.2
LEASES (Tables)
6 Months Ended
Jun. 30, 2020
LEASES  
Schedule of components of lease expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

Lease Cost/(Sublease Income) (in thousands)

 

2020

 

2019

 

2020

 

2019

Operating lease cost

 

$

881

 

$

1,219

 

$

2,100

 

$

2,446

Short-term lease cost

 

 

632

 

 

711

 

 

1,467

 

 

1,017

Sublease income

 

 

 —

 

 

(39)

 

 

 —

 

 

(48)

Total lease cost

 

$

1,513

 

$

1,891

 

$

3,567

 

$

3,415

 

Schedule of right-of use assets and lease liabilities

 

 

 

 

 

 

 

 

 

Lease Assets/Liabilities (in thousands)

 

Balance Sheet Classification

 

June 30, 2020

 

December 31, 2019

Lease Assets 

 

 

 

 

 

 

 

 

Right-of-use assets

 

Other long-term assets

 

$

5,197

 

$

5,743

 

 

 

 

 

 

 

 

 

Lease Liabilities

 

 

 

 

 

 

 

 

Short-term lease liabilities

 

Other current liabilities

 

$

3,543

 

$

2,985

Long-term lease liabilities

 

Other long-term liabilities

 

 

1,847

 

 

2,939

Total lease liabilities

 

 

 

$

5,390

 

$

5,924

 

Schedule of supplemental information

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

(dollars in thousands)

 

2020

 

2019

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash used by operating leases

 

$

2,500

 

$

2,462

Right-of-use assets obtained in exchange for new operating lease liabilities

 

 

1,796

 

 

9,192

Right-of-use assets obtained in exchange for new finance lease liabilities

 

 

 —

 

 

27

Weighted-average remaining lease term - operating leases

 

 

1.68 years

 

 

2.67 years

Weighted-average remaining lease term - finance leases

 

 

3.73 years

 

 

4.74 years

Weighted-average discount rate - operating leases

 

 

9%

 

 

9%

Weighted-average discount rate - finance leases

 

 

9%

 

 

9%

 

Schedule of remaining lease payments under operating leases

 

 

 

 

 

 

 

 

 

Operating Leases

 

Finance Leases

Six Months Ended June 30, 2020

 

(in thousands)

Remainder of 2020

 

$

2,315

 

$

 3

2021

 

 

2,575

 

 

 6

2022

 

 

824

 

 

 5

2023

 

 

194

 

 

 5

2024

 

 

 2

 

 

 1

Thereafter

 

 

 —

 

 

 —

Total lease payments

 

$

5,910

 

$

20

Less: interest

 

 

(539)

 

 

(1)

Present value of lease liabilities

 

$

5,371

 

$

19

 

Schedule of remaining lease payments under finance leases

Total remaining lease payments under the Company’s operating and finance leases are as follows:

 

 

 

 

 

 

 

 

 

Operating Leases

 

Finance Leases

Six Months Ended June 30, 2020

 

(in thousands)

Remainder of 2020

 

$

2,315

 

$

 3

2021

 

 

2,575

 

 

 6

2022

 

 

824

 

 

 5

2023

 

 

194

 

 

 5

2024

 

 

 2

 

 

 1

Thereafter

 

 

 —

 

 

 —

Total lease payments

 

$

5,910

 

$

20

Less: interest

 

 

(539)

 

 

(1)

Present value of lease liabilities

 

$

5,371

 

$

19