Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease, Cost

Supplemental cash flow information related to our lease contracts for the year ended December 31, 2019 is as follows (in thousands):

	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	29,946
Operating cash flows from finance leases	117
Financing cash flows from finance leases	678
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	24,687
Finance leases(a)	55,806

(a)

Represents 60% ownership interest in finance lease acquired as part of the Wodgina Project acquisition. See Note 2, “Acquisitions,” for further details.

The following table provides details of our lease contracts for the year ended December 31, 2019 (in thousands):

	December 31, 2019
Operating lease cost	$	35,335
Finance lease cost:
Amortization of right of use assets	625
Interest on lease liabilities	117
Total finance lease cost	742
Short-term lease cost	6,655
Variable lease cost	6,198
Total lease cost	$	48,930

Supplemental Balance Sheet Information related

Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at December 31, 2019 is as follows (in thousands, except as noted):

	December 31, 2019
Operating leases:
Other assets	$	133,864
Current operating lease liability	23,137
Other noncurrent liabilities	114,686
Total operating lease liabilities	137,823
Finance leases:
Net property, plant and equipment	59,494
Current portion of long-term debt	636
Long-term debt	58,888
Total finance lease liabilities	59,524
Weighted average remaining lease term (in years):
Operating leases	11.4
Finance leases	28.3
Weighted average discount rate (%):
Operating leases	3.84		%
Finance leases	4.56		%

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities as of December 31, 2019 were as follows (in thousands):

	Operating Leases		Finance Leases
2020	$	28,333	$	2,229
2021	15,306		2,140
2022	13,153		4,431
2023	12,433		4,431
2024	11,850		4,431
Thereafter	94,002		94,788
Total lease payments	175,077		112,450
Less imputed interest	37,254		52,926
Total	$	137,823	$	59,524

Finance Lease, Liability, Maturity

Maturities of lease liabilities as of December 31, 2019 were as follows (in thousands):

	Operating Leases		Finance Leases
2020	$	28,333	$	2,229
2021	15,306		2,140
2022	13,153		4,431
2023	12,433		4,431
2024	11,850		4,431
Thereafter	94,002		94,788
Total lease payments	175,077		112,450
Less imputed interest	37,254		52,926
Total	$	137,823	$	59,524