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Other Noncurrent Liabilities
12 Months Ended
Dec. 31, 2019
Other Liabilities Disclosure [Abstract]  
Other Noncurrent Liabilities

19. Other Noncurrent Liabilities

As of December 31, 2019 and 2018, Other Noncurrent Liabilities consisted of the following:

(in thousands)

2019

2018

Postretirement benefits other than pensions

$50,576

$47,237

Pension liabilities

34,638

34,590

Finance leases

22,700

Operating leases

14,386

Interest rate swap agreements

5,518

Incentive and deferred compensation

2,925

3,810

Other

1,282

2,540

Restructuring

700

100

Total

$132,725

$88,277

The increase in Other Noncurrent liabilities in 2019 was in part due to the cumulative effect of adopting ASC 842 (see Note 20) which upon adoption, increased Other Noncurrent liabilities by $28.0 million. For the year ended December 31, 2019 lease liabilities included in Other noncurrent liabilities are comprised of Finance and Operating leases, and account for an increase over December 31, 2018 of $37.1 million.

Our interest rate swap agreements which are accounted for as a hedge of future cash flows and are further described in Note 18, Fair-Value Measurements, are measured at fair value each period. As of December 31, 2019 the fair value was a liability of $5.5 million, which is reflected in Other noncurrent liabilities, and as of December 31, 2018 the fair value was an asset of $4.5 million, which is reflected in Other assets.