Leases

3 Months Ended

Mar. 31, 2021

We have entered into various operating lease agreements for automobiles, offices and manufacturing facilities throughout the world. At March 31, 2021, our operating leases had remaining lease terms of up to 40 years, including any reasonably probable extensions.

Lease balances within our consolidated balance sheet were as follows:


(In thousands)	March 31, 2021		December 31, 2020
Assets:
Operating lease right-of-use assets	$	17,702	$	19,522
Liabilities:
Other accrued liabilities	$	5,838	$	6,094
Long-term operating lease obligations	11,292		13,681
Total lease liabilities	$	17,130	$	19,775

Operating lease expense, including variable and short-term lease costs which were insignificant to the total, operating lease cash flows and supplemental cash flow information were as follows:


(In thousands)	Three Months Ended March 31,
	2021		2020
Cost of sales	$	670	$	390
Selling, general and administrative expenses	1,036		998
Total operating lease expense	$	1,706	$	1,388
Operating cash outflows from operating leases	$	1,798	$	1,525
Operating lease right-of-use assets obtained in exchange for lease obligations	$	294	$	186
Non-cash release of operating lease obligations (1)	$	654	$	—

(1)During the three months ended March 31, 2021, we were released from our guarantee of the lease obligation related to our Ohio call center which was sold in February 2020.

The weighted average remaining lease liability term and the weighted average discount rate were as follows:


	March 31, 2021		December 31, 2020
Weighted average lease liability term (in years)	3.6		3.7
Weighted average discount rate	3.72	%	3.84	%

The following table reconciles the undiscounted cash flows for each of the first five years and thereafter to the operating lease liabilities recognized in our consolidated balance sheet at March 31, 2021. The reconciliation excludes short-term leases that are not recorded on the balance sheet.


(In thousands)	March 31, 2021
2021 (remaining 9 months)	$	4,786
2022	5,702
2023	3,321
2024	2,010
2025	1,552
Thereafter	964
Total lease payments	18,335
Less: imputed interest	(1,205)
Total lease liabilities	$	17,130

At March 31, 2021, we had one operating lease with a four-year term that had not yet commenced. The total initial lease liability, which is immaterial to the balance sheet, is not reflected within the above maturity schedule.