Leases

12 Months Ended

Dec. 31, 2020

Note 3 – Leases

The net right of use assets and lease liabilities recognized on the consolidated balance sheets for the Company's operating leases as of December 31, 2020 and 2019 are presented below:

	December 31, 2020		December 31, 2019
Right of use assets
Operating Leases
Buildings and improvements	$	97,429	$	87,689
Machinery and equipment		5,011		5,473
Total	$	102,440	$	93,162
Current lease liabilities
Operating Leases
Buildings and improvements	$	19,370	$	17,410
Machinery and equipment		2,704		2,807
Total	$	22,074	$	20,217
Long-term lease liabilities
Operating Leases
Buildings and improvements	$	83,926	$	75,877
Machinery and equipment		2,294		2,634
Total	$	86,220	$	78,511
Total lease liabilities	$	108,294	$	98,728

Lease expense is classified in the statements of operations based on asset use. Total lease cost recognized on the consolidated statements of operations is as follows:

	Years ended December 31,
	2020		2019
Lease expense
Operating lease expense	$	23,363	$	22,271
Short-term lease expense		930		2,278
Variable lease expense		248		95
Total lease expense	$	24,541	$	24,644

The Company paid $23,814 and $21,552 for its operating leases during the years ended December 31, 2020 and 2019, respectively, which are included in operating cash flows on the consolidated statements of cash flows. The weighted-average remaining lease term for the Company's operating leases is 8.9 years and the weighted-average discount rate is 5.9% as of December 31, 2020.

The undiscounted future lease payments for the Company's operating lease liabilities are as follows:

	December 31, 2020
2021	$	22,671
2022		19,128
2023		15,628
2024		14,172
2025		13,227
Thereafter		55,218

The undiscounted future lease payments presented in the table above include payments through the term of the lease, which may include periods beyond the noncancellable term. The difference between the total payments above and the lease liability balance is due to the discount rate used to calculate lease liabilities.