Leases

3 Months Ended

Mar. 31, 2022

10.

LEASES

The Company leases office space, storage warehouses and certain plant equipment under various operating leases. The Company’s operating leases have remaining lease terms of less than 1 year to 8 years. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

For the three months ended March 31, 2022 and March 31, 2021, total operating lease expense was $2.1 million and $2.0 million, respectively. The weighted average remaining lease term at March 31, 2022 and December 31, 2021 was 5.9 years and 5.8 years, respectively. The weighted average discount rate at March 31, 2022 and December 31, 2021 was 2.20% and 2.47%, respectively.

The following table includes supplemental cash flow information for the three months ended March 31, 2022 and March 31, 2021 and supplemental balance sheet information at March 31, 2022 and December 31, 2021 related to operating leases (in thousands):


	Three Months Ended March 31,
Supplemental cash flow information	2022		2021
Cash paid for amounts included in the measurement of operating lease liabilities	$	2,174	$	2,056
Operating ROU assets obtained in exchange for lease liabilities	$	6,053	$	1,038

Supplemental balance sheet information	March 31, 2022		December 31, 2021
Operating lease ROU assets	$	37,479	$	34,571

Operating lease liabilities:
Accrued expenses and other current liabilities	$	7,504	$	7,066
Operating lease liabilities		30,672		28,263

Total operating lease liabilities	$	38,176	$	35,329

The following table summarizes maturities of operating lease liabilities at March 31, 2022 (in thousands):


Maturities of operating lease liabilities
2022	$	6,276
2023		7,377
2024		6,653
2025		5,362
2026		4,852
Thereafter		10,156

Total lease payments		40,676
Less imputed interest		(2,500	)

Total operating lease liabilities	$	38,176