Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

Leases

As a lessee, we have various operating lease agreements primarily related to real estate, vehicles and office and plant equipment. The components of lease expense were as follows:

			Year Ended December 31,
(In thousands, except percentage and year amounts)			2021			2020
Lease cost:
	Operating lease cost recognized as rent expense		$	14,230		$	12,997
	Total lease cost		$	14,230		$	12,997
		Other Information
Cash paid for amounts included in the measurement of lease liabilities:
	Operating cash flows related to operating leases		$	14,440		$	13,476
Non-cash other information:
	Right-of-use assets obtained in exchange for new operating lease liabilities		$	21,857		$	10,737
	Right-of-use assets obtained in acquisitions		$	4,795		$	—
			December 31,
			2021			2020
Weighted-average remaining lease term (in years):
	Operating leases		14			11
Weighted-average discount rate:
	Operating leases		2.49		%	3.89		%

Rent expense was $14.2 million, $13.0 million and $13.4 million in 2021, 2020 and 2019, respectively. We did not have any lease transactions with related parties. We did not have any significant leases not yet commenced.

At December 31, 2021, future lease payments under operating leases were as follows:

(In thousands)	Operating Leases
2022	$	10,588
2023	8,527
2024	6,354
2025	4,200
2026	3,698
After 2026	25,801
	$	59,168
Less: Imputed interest	8,920
Present value of operating lease liabilities	50,248
Less: Current portion operating lease liabilities(a)	9,542
Noncurrent operating lease liabilities	$	40,706

(a) Included in Accrued restructuring and other current liabilities on the Consolidated Balance Sheet.

Leases

Leases

As a lessee, we have various operating lease agreements primarily related to real estate, vehicles and office and plant equipment. The components of lease expense were as follows:

			Year Ended December 31,
(In thousands, except percentage and year amounts)			2021			2020
Lease cost:
	Operating lease cost recognized as rent expense		$	14,230		$	12,997
	Total lease cost		$	14,230		$	12,997
		Other Information
Cash paid for amounts included in the measurement of lease liabilities:
	Operating cash flows related to operating leases		$	14,440		$	13,476
Non-cash other information:
	Right-of-use assets obtained in exchange for new operating lease liabilities		$	21,857		$	10,737
	Right-of-use assets obtained in acquisitions		$	4,795		$	—
			December 31,
			2021			2020
Weighted-average remaining lease term (in years):
	Operating leases		14			11
Weighted-average discount rate:
	Operating leases		2.49		%	3.89		%

Rent expense was $14.2 million, $13.0 million and $13.4 million in 2021, 2020 and 2019, respectively. We did not have any lease transactions with related parties. We did not have any significant leases not yet commenced.

At December 31, 2021, future lease payments under operating leases were as follows:

(In thousands)	Operating Leases
2022	$	10,588
2023	8,527
2024	6,354
2025	4,200
2026	3,698
After 2026	25,801
	$	59,168
Less: Imputed interest	8,920
Present value of operating lease liabilities	50,248
Less: Current portion operating lease liabilities(a)	9,542
Noncurrent operating lease liabilities	$	40,706

(a) Included in Accrued restructuring and other current liabilities on the Consolidated Balance Sheet.