Lease Commitments (Tables)

6 Months Ended

Jun. 30, 2019

The following table presents the weighted-average lease term and discount rates of the Company's lease obligations:



Weighted-average remaining lease term (years)	June 30, 2019
Operating leases	5.06
Finance leases	0.17
Weighted-average discount rate
Operating leases	5.76	%
Finance leases	1.31	%

The following table presents the location and amount of lease assets and liabilities in the Condensed Consolidated Balance Sheets:



Assets	Location	June 30, 2019
Operating lease assets	Operating lease right-of-use assets	$	93,183
Finance lease assets	Property, plant and equipment	3,217
Total leased assets		$	96,400
Liabilities	Location
Current:
Operating	Accrued liabilities	$	28,793
Finance	Current portion of long-term debt and finance leases	187
Noncurrent:
Operating	Noncurrent operating leases	67,214
Finance	Long-term debt and finance leases	5,063
Total lease liabilities		$	101,257

Lease Cost, Supplemental Cash Flow and Other Information Related to Leases

The following table presents the cash flow amounts related to lease liabilities included in the Company's Condensed Consolidated Statement of Cash Flows



	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	9,098		$	17,181
Operating cash flows from finance leases	55			109
Financing cash flows from finance leases	(193		)	(389		)
Leased assets obtained in exchange for new operating lease liabilities	20			72

The following table presents the location and amount of lease expense in the Condensed Consolidated Income Statement:



Lease cost	Location	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Operating lease cost ^(a)	Cost of Sales	$	8,787	$	18,022
Operating lease cost	Selling General & Administrative Expenses	1,515		2,898
Total operating lease cost		10,302		20,920

Amortization of finance lease assets	Cost of sales	$	55	$	109
Interest on finance lease liabilities	Interest expense	1		2
Total finance lease cost		56		111
Net lease cost		$	10,358	$	21,031

^(a) - Includes short-term lease costs of $1,515 and $3,401 and variable lease costs of $844 and $1,680 for the three and six month periods ended June 30, 2019, respectively.

Maturities of Operating Lease Liabilities

The following table presents the future maturities of the Company's lease obligations:



	June 30, 2019
	Operating Leases		Finance Leases		Total
2019	$	16,424	$	187	$	16,611
2020	31,079		—		31,079
2021	17,776		5,063		22,839
2022	13,539		—		13,539
2023	9,590		—		9,590
After 2024	24,009		—		24,009
Total lease payments	112,417		5,250		117,667
Less: Interest	16,410		—		16,410
Present value of lease liabilities	$	96,007	$	5,250	$	101,257

Maturities of Financing Lease Liabilities

The following table presents the future maturities of the Company's lease obligations:



	June 30, 2019
	Operating Leases		Finance Leases		Total
2019	$	16,424	$	187	$	16,611
2020	31,079		—		31,079
2021	17,776		5,063		22,839
2022	13,539		—		13,539
2023	9,590		—		9,590
After 2024	24,009		—		24,009
Total lease payments	112,417		5,250		117,667
Less: Interest	16,410		—		16,410
Present value of lease liabilities	$	96,007	$	5,250	$	101,257