Leases (Tables)

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Components of Net Lease Cost

The following table details the components of net lease cost for the periods presented ($ in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Finance leases:
Amortization of right-of-use assets	$	388		$	449		$	1,159		$	1,427
Interest on lease liabilities		54			62			167			194
Operating lease cost		1,332			1,306			3,979			3,885
Short-term lease cost		108			104			337			324
Variable lease cost		310			304			928			983
Sublease income		(118	)		(84	)		(271	)		(246	)
Net lease cost	$	2,074		$	2,141		$	6,299		$	6,567

Cash Payments Included in Measurement of Lease Liabilities

The following table details the cash payments included in the measurement of lease liabilities during the periods presented ($ in thousands):

	Nine Months Ended September 30,
	2021		2020
Finance leases:
Operating cash flows included in operating activities	$	167	$	194
Financing cash flows included in payments under finance lease obligations		1,072		1,319
Operating leases:
Operating cash flows (fixed payments) included in other operating activities, net		3,509		3,739
Operating cash flows (liability reduction) included in other operating activities, net		2,929		2,896

Balance Sheet Information and Weighted-Average Lease Terms and Discount Rates Related to Leases

The following table details balance sheet information, as well as weighted-average lease terms and discount rates, related to leases at September 30, 2021 and December 31, 2020 ($ in thousands):

	September 30, 2021			December 31, 2020
Finance lease right-of-use assets, net of accumulated depreciation	$	6,405		$	7,471
Finance lease liabilities		6,826			7,805
Operating lease right-of-use assets		34,689			30,901
Operating lease liabilities		36,531			32,290
Weighted-average lease term:
Finance leases	8.36 years			8.53 years
Operating leases	8.97 years			8.65 years
Weighted-average discount rate:
Finance leases		3.19	%		3.10	%
Operating leases		3.14	%		3.41	%

Future Minimum Rental Commitments Under Finance and Operating Leases

At September 30, 2021, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):

	Finance Leases			Operating Leases
2021 (excluding the nine months ended September 30, 2021)	$	414		$	1,269
2022		1,597			5,159
2023		885			4,973
2024		572			5,024
2025		584			4,991
Thereafter		3,868			20,435
Total minimum lease payments		7,920			41,851
Less imputed interest		(1,094	)		(5,320	)
Lease liabilities	$	6,826		$	36,531