Lease Commitments (Tables)

12 Months Ended

Dec. 31, 2020

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


Assets	Location	December 31, 2020		December 31, 2019
Operating lease assets, net	Operating lease right-of-use assets, net	$	91,884	$	80,752
Finance lease assets	Property, plant and equipment	4,669		4,577
Total leased assets		$	96,553	$	85,329
Liabilities	Location
Current:
Operating	Accrued liabilities	$	23,338	$	27,663
Finance	Current portion of long-term debt and finance leases	778		265
Noncurrent:
Operating	Noncurrent operating leases	71,391		55,371
Finance	Long-term debt and finance leases	1,332		935
Total lease liabilities		$	96,839	$	84,234

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


Weighted-average remaining lease term (years)	December 31, 2020		December 31, 2019
Operating leases	5.10		4.90
Finance Leases	2.94		4.26
Weighted-average discount rate
Operating leases	5.20	%	5.76	%
Finance Leases	4.31	%	5.79	%

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

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


Lease cost	Location	Twelve Months Ended December 31, 2020		Twelve Months Ended December 31, 2019
Operating lease cost (a)	Cost of sales	$	35,305	$	36,321
Operating lease cost	Selling general & administrative expenses	6,785		5,632
Total operating lease cost		42,090		41,953

Amortization of finance lease assets	Cost of sales	$	698	$	352
Amortization of finance lease assets	Selling general & administrative expenses	132		—
Interest on finance lease liabilities	Interest expense	96		32
Total finance lease cost		926		384
Net lease cost		$	43,016	$	42,337

(a) - Includes short-term lease costs of $7,904 and variable lease costs of $2,385 for the year ended December 31, 2020, $7,328 and $3,480, respectively for the year ended December 31, 2019.

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


	Twelve Months Ended December 31, 2020		Twelve Months Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash outflows from operating leases	$	32,482	$	33,774

Financing cash outflows from finance leases	803		605
Leased assets obtained in exchange for new finance lease liabilities	67		43
Leased assets obtained in exchange for new operating lease liabilities	200		342

Maturities of Operating Lease Liabilities

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


	December 31, 2020
	Operating Leases		Finance Leases		Total
2021	$	24,947	$	855	$	25,802
2022	21,143		781		21,924
2023	16,677		425		17,102
2024	13,315		224		13,539
2025	10,201		6		10,207
After 2025	15,921		—		15,921
Total lease payments	102,204		2,291		104,495
Less: Interest	(7,475)		(181)		(7,656)
Present value of lease liabilities	$	94,729	$	2,110	$	96,839

Maturities of Financing Lease Liabilities

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


	December 31, 2020
	Operating Leases		Finance Leases		Total
2021	$	24,947	$	855	$	25,802
2022	21,143		781		21,924
2023	16,677		425		17,102
2024	13,315		224		13,539
2025	10,201		6		10,207
After 2025	15,921		—		15,921
Total lease payments	102,204		2,291		104,495
Less: Interest	(7,475)		(181)		(7,656)
Present value of lease liabilities	$	94,729	$	2,110	$	96,839