Leases (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| Leases |
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| Lease Expense and Supplemental Cash Flow Information |
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Year ended December 31, |
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2020 |
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Operating lease cost (1) |
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$ |
2,840 |
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Finance lease cost |
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|
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Depreciation of leased assets |
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$ |
1,472 |
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Interest on lease liabilities |
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|
25 |
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Total finance lease cost |
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$ |
1,497 |
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|
(1) |
Included within operating lease costs were short-term lease costs and variable lease costs, which were not material to the financial statements. |
Total operating lease cost for the year ended December 31, 2019 was $0.7 million. For the year ended December 31, 2018, the Company recorded total rental expense of $1.0 million.
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Year ended |
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December 31, 2020 |
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Weighted-average remaining lease term (years): |
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Finance leases |
|
3.1 |
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Operating leases |
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4.8 |
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Weighted-average discount rate: |
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|
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Finance leases |
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3.9 |
% |
Operating leases |
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4.2 |
% |
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Year ended December 31, |
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|
2020 |
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amounts in thousands |
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Cash paid for amounts included in the measurement of lease liabilities: |
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|
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Operating cash flows from operating leases |
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$ |
2,572 |
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Operating cash flows from finance leases |
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$ |
18 |
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Financing cash flows from finance leases |
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$ |
362 |
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ROU assets obtained in exchange for lease obligations |
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|
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Operating leases |
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$ |
— |
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Finance leases |
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$ |
— |
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| Supplemental Balance Sheet Information |
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December 31, |
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2020 |
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amounts in thousands |
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Operating leases: |
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|
|
|
Operating lease ROU assets, net (1) |
|
$ |
98,992 |
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|
|
|
|
|
Current operating lease liabilities (2) |
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$ |
34,402 |
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Operating lease liabilities (3) |
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|
61,305 |
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Total operating lease liabilities |
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$ |
95,707 |
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|
|
|
|
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Finance Leases: |
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|
|
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Property and equipment, at cost |
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$ |
9,926 |
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Accumulated depreciation |
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|
(1,472) |
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Property and equipment, net |
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$ |
8,454 |
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|
|
|
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Current obligations under finance leases (4) |
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$ |
3,745 |
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Obligations under finance leases |
|
|
3,744 |
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Total finance lease liabilities |
|
$ |
7,489 |
|
|
(1) |
Operating lease ROU assets, net are included within the Other assets, net line item in the accompanying consolidated balance sheets. |
|
(2) |
Current operating lease liabilities are included within the Other current liabilities line item in the accompanying consolidated balance sheets. |
|
(3) |
Operating lease liabilities are included within the Other liabilities line item in the accompanying consolidated balance sheets. |
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(4) |
Current obligations under finance leases are included within the Other current liabilities line item in the accompanying consolidated balance sheets. |
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| Future Lease Payments on Finance Leases |
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Finance Leases |
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Operating Leases |
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Tower Obligations |
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|
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amounts in thousands |
2021 |
|
$ |
3,625 |
|
34,710 |
|
7,401 |
2022 |
|
|
1,973 |
|
26,786 |
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7,549 |
2023 |
|
|
678 |
|
17,500 |
|
7,700 |
2024 |
|
|
688 |
|
8,090 |
|
7,854 |
2025 |
|
|
697 |
|
4,005 |
|
8,011 |
Thereafter |
|
|
349 |
|
17,410 |
|
117,062 |
Total payments |
|
|
8,010 |
|
108,501 |
|
155,577 |
Less: imputed interest |
|
|
521 |
|
12,794 |
|
64,724 |
Total liabilities |
|
$ |
7,489 |
|
95,707 |
|
90,853 |
|
| Schedule of aggregate minimum annual lease payments |
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Finance Leases |
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Operating Leases |
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Tower Obligations |
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|
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amounts in thousands |
2021 |
|
$ |
3,625 |
|
34,710 |
|
7,401 |
2022 |
|
|
1,973 |
|
26,786 |
|
7,549 |
2023 |
|
|
678 |
|
17,500 |
|
7,700 |
2024 |
|
|
688 |
|
8,090 |
|
7,854 |
2025 |
|
|
697 |
|
4,005 |
|
8,011 |
Thereafter |
|
|
349 |
|
17,410 |
|
117,062 |
Total payments |
|
|
8,010 |
|
108,501 |
|
155,577 |
Less: imputed interest |
|
|
521 |
|
12,794 |
|
64,724 |
Total liabilities |
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$ |
7,489 |
|
95,707 |
|
90,853 |
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| Future Lease Payments on Tower Obligation |
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|
|
|
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|
|
|
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Finance Leases |
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Operating Leases |
|
Tower Obligations |
|
|
|
amounts in thousands |
2021 |
|
$ |
3,625 |
|
34,710 |
|
7,401 |
2022 |
|
|
1,973 |
|
26,786 |
|
7,549 |
2023 |
|
|
678 |
|
17,500 |
|
7,700 |
2024 |
|
|
688 |
|
8,090 |
|
7,854 |
2025 |
|
|
697 |
|
4,005 |
|
8,011 |
Thereafter |
|
|
349 |
|
17,410 |
|
117,062 |
Total payments |
|
|
8,010 |
|
108,501 |
|
155,577 |
Less: imputed interest |
|
|
521 |
|
12,794 |
|
64,724 |
Total liabilities |
|
$ |
7,489 |
|
95,707 |
|
90,853 |
|