Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.2
Leases (Tables)
9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Components of Lease Expense and Supplemental Cash Flow Information
The components of lease expense were as follows (in thousands):
Successor Company Predecessor Company
Three Months Ended September 30, Period from September 1, 2019 through September 30, Period from July 1, 2019 through August 31,
2020 2019 2019
Operating lease cost (a) $ 178  $ 34  $ 70 
Operating lease cost (b) 860  320  624 
Total operating lease cost $ 1,038  $ 354  $ 694 

(a)  Amount is included in Cost of services in the unaudited condensed consolidated statements of operations and comprehensive income (loss).
(b)  Amount is included in Selling, general and administrative, including stock-based and long-term incentive compensation in the unaudited condensed consolidated statements of operations and comprehensive income (loss).

Successor Company Predecessor Company
Nine Months Ended September 30, Period from September 1, 2019 through September 30, Period from January 1, 2019 through August 31,
2020 2019 2019
Operating lease cost (c) $ 569  $ 34  $ 321 
Operating lease cost (d) 2,997  320  2,595 
Total operating lease cost $ 3,566  $ 354  $ 2,916 

(c)  Amount is included in Cost of services in the unaudited condensed consolidated statements of operations and comprehensive income (loss).
(d)  Amount is included in Selling, general and administrative, including stock-based and long-term incentive compensation in the unaudited condensed consolidated statements of operations and comprehensive income (loss).

Remaining Lease Term and Discount Rate

The following table presents the weighted-average remaining lease term and the weighted-average discount rate:
As of September 30, 2020
Weighted-average remaining lease term for operating leases (in years) 8.9
Weighted-average discount rate for operating leases 11.7  %
The following is the supplemental cash flow information associated with the Company's leases (in thousands):
Successor Company Predecessor Company
Nine Months Ended September 30, Period from September 1, 2019 through September 30, Period from January 1, 2019 through August 31,
2020 2019 2019
Cash paid for amounts included in the measurement of lease liabilities:
Lease payments included in cash flows from operating activities (a) $ 3,460  $ 345  $ 2,804 
Right-of-use assets obtained in exchange for new:
Operating lease liabilities $ 738  $ 69  $ 89 

(a)  Cash flow impacts from Operating lease right-of-use assets and Operating lease liabilities are presented net on the cash flow statement in changes in Payables and other liabilities.
Maturities of Lease Liabilities
As of September 30, 2020, maturities of lease liabilities were as follows:
Remainder of 2020 $ 728 
2021 3,800 
2022 3,549 
2023 3,182 
2024 3,065 
Thereafter 17,264 
Total lease payments $ 31,588 
Less: Interest (12,499)
Total lease obligations $ 19,089