Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

Note 10 – Leases

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

	Years Ended December 31,
	2021			2020			2019
Finance leases
Amortization of right-of-use assets	$	1,546		$	1,856		$	2,162
Interest on lease liabilities		219			254			307
Operating lease cost		5,275			5,188			5,183
Short-term lease cost		463			423			370
Variable lease cost		1,234			1,286			1,387
Sublease income		(350	)		(335	)		(331	)
Net lease cost	$	8,387		$	8,672		$	9,078

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

	Years Ended December 31,
	2021		2020		2019
Finance leases
Operating cash flows included in operating activities	$	219	$	254	$	307
Financing cash flows included in payments under finance lease obligations		1,434		1,715		1,964
Operating leases
Operating cash flows (fixed payments) included in other operating activities, net		4,781		4,988		5,092
Operating cash flows (liability reduction) included in other operating activities, net		3,948		3,856		5,404

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

	December 31,
	2021			2020
Finance lease right-of-use assets, net of accumulated depreciation	$	6,017		$	7,471
Finance lease liabilities		6,464			7,805
Operating lease right-of-use assets		34,603			30,901
Operating lease liabilities		36,468			32,290
Weighted-average lease term
Finance leases	8.37 years			8.53 years
Operating leases	9.25 years			8.65 years
Weighted-average discount rate
Finance leases		3.24	%		3.10	%
Operating leases		2.84	%		3.41	%

At December 31, 2021, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):

	Finance Leases			Operating Leases
2022	$	1,597		$	4,934
2023		885			4,688
2024		572			4,828
2025		584			4,796
2026		589			4,601
Thereafter		3,279			17,652
Total minimum lease payments		7,506			41,499
Less imputed interest		(1,042	)		(5,031	)
Lease liabilities	$	6,464		$	36,468