LEASES

12 Months Ended

Dec. 31, 2021

LEASES

LEASES

NOTE 18 – LEASES

The table below summarizes the right-of-use assets and lease liabilities in the Company’s Consolidated Balance sheets:

Operating Leases	Balance Sheet Classification	December 31, 2021		December 31, 2020
Right-of-use assets	Other assets	$	47,966	$	43,570
Current liabilities	Other current liabilities	$	10,218	$	11,502
Noncurrent liabilities	Other liabilities		38,960		33,988
Total lease liabilities		$	49,178	$	45,490

Total lease expense, which is included in Cost of goods sold and Selling, general and administrative expenses in the Company’s Consolidated Statements of Income, was $21,630, $23,499 and $25,389 in the years ended December 31, 2021, 2020 and 2019, respectively. Cash paid for amounts included in the measurement of lease liabilities for the years ended December 31, 2021 and 2020 was $15,723 and $15,488, respectively, are included in Net cash provided by operating activities in the Company’s Consolidated Statements of Cash Flows. Right-of-use assets obtained in exchange for operating lease liabilities during the years ended December 31, 2021 and 2020 were $12,257 and $4,387, respectively.

The total future minimum lease payments for noncancelable operating leases were as follows:

	December 31, 2021
2022	$	11,415
2023		9,697
2024		8,183
2025		5,208
2026		3,951
After 2026		17,351
Total lease payments	$	55,805
Less: Imputed interest		6,627
Operating lease liabilities	$	49,178

As of December 31, 2021 and 2020, the weighted average remaining lease term was 8.6 years and 7.3 years, respectively. As of December 31, 2021 and 2020, the weighted average discount rate used to determine the operating lease liability was 3.1% and 3.5%, respectively.