Leases (Tables)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Net Lease Cost

Expenses related to leasing activities for the three months ended March 31, 2021 and March 31, 2020 are as follows (Dollars in thousands):

		Three Months Ended March 31,
Lease Type	Classification	2021		2020
Operating Lease Expense	Operating expenses	$	1,493	$	1,187
Financing Lease Amortization	Operating expenses	58		$	52
Financing Lease Interest	Interest expense	5		7
Financing Lease Expense		63		59
Net Lease Cost		$	1,556	$	1,246

The weighted average lease terms and interest rates of the leases held by Lawson as of March 31, 2021 are as follows:

Lease Type	Weighted Average Term in Years	Weighted Average Interest Rate
Operating Leases	3.0	3.72%
Financing Leases	2.4	5.24%

The cash outflows of the leasing activity for the three months ending March 31, 2021 are as follows (Dollars in thousands):

Cash Flow Source	Classification	Amount
Operating cash flows from operating leases	Operating activities	$	1,137
Operating cash flows from financing leases	Operating activities	5
Financing cash flows from financing leases	Financing activities	58

Operating Lease Assets And Liabilities

Net assets and liabilities related to leasing activities as of March 31, 2021 and December 31, 2020 are as follows (Dollars in thousands):

Lease Type	March 31, 2021		December 31, 2020
Total Right Of Use ("ROU") operating lease assets (1)	$	13,993	$	8,246
Total ROU financing lease assets (2)	460		518
Total lease assets	$	14,453	$	8,764
Total current operating lease obligation	$	4,378	$	4,360
Total current financing lease obligation	224		208
Total current lease obligations	$	4,602	$	4,568
Total long term operating lease obligation	$	11,346	$	5,498
Total long term financing lease obligation	159		240
Total long term lease obligation	$	11,505	$	5,738

(1) Operating lease assets are recorded net of accumulated amortization of $6.8 million and $5.9 million as of March 31, 2021 and December 31, 2020, respectively

(2) Financing lease assets are recorded net of accumulated amortization of $0.5 million and $0.4 million as of March 31, 2021 and December 31, 2020, respectively

Value of Operating Lease Liabilities Generated by Leasing Activities

Liabilities generated by leasing activities as of March 31, 2021 were as follows (Dollars in thousands):

Maturity Date of Lease Liabilities	Operating Leases		Financing Leases		Total
Year one	$	4,829	$	196	$	5,025
Year two	4,250		132		4,382
Year three	3,178		64		3,242
Year four	2,418		13		2,431
Year five	809		—		809
Subsequent years	1,416		—		1,416
Total lease payments	16,900		405		17,305
Less: Interest	1,176		22		1,198
Present value of lease liabilities	$	15,724	$	383	$	16,107

(1)    Minimum lease payments exclude payments to landlord for real estate taxes and common area maintenance $0.7 million

Value of Finance Lease Liabilities Generated by Leasing Activities

Liabilities generated by leasing activities as of March 31, 2021 were as follows (Dollars in thousands):

Maturity Date of Lease Liabilities	Operating Leases		Financing Leases		Total
Year one	$	4,829	$	196	$	5,025
Year two	4,250		132		4,382
Year three	3,178		64		3,242
Year four	2,418		13		2,431
Year five	809		—		809
Subsequent years	1,416		—		1,416
Total lease payments	16,900		405		17,305
Less: Interest	1,176		22		1,198
Present value of lease liabilities	$	15,724	$	383	$	16,107

(1)    Minimum lease payments exclude payments to landlord for real estate taxes and common area maintenance $0.7 million