Lease Commitments (Tables)

9 Months Ended

Sep. 30, 2019

The following table presents the weighted-average lease term and discount rates of the Company's lease obligations:



Weighted-average remaining lease term (years)	September 30, 2019
Operating leases	4.98
Finance leases	1.42
Weighted-average discount rate
Operating leases	5.84	%
Finance leases	4.77	%

The following table presents the location and amount of lease assets and liabilities in the Condensed Consolidated Balance Sheets:



Assets	Location	September 30, 2019
Operating lease assets, net	Operating lease right-of-use assets, net	$	86,285
Finance lease assets	Property, plant and equipment	2,978
Total leased assets		$	89,263
Liabilities	Location
Current:
Operating	Accrued liabilities	$	28,631
Finance	Current portion of long-term debt and finance leases	—
Noncurrent:
Operating	Noncurrent operating leases	60,335
Finance	Long-term debt and finance leases	5,063
Total lease liabilities		$	94,029

Lease Cost, Supplemental Cash Flow and Other Information Related to Leases

The following table presents the cash flow amounts related to lease liabilities included in the Company's Condensed Consolidated Statement of Cash Flows



	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	8,265		$	25,446
Operating cash flows from finance leases	51			160
Financing cash flows from finance leases	(185		)	(574		)
Leased assets obtained in exchange for new operating lease liabilities	—			39

The following table presents the location and amount of lease expense in the Condensed Consolidated Income Statement:



Lease cost	Location	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost ^(a)	Cost of Sales	$	6,318	$	19,249
Operating lease cost	Selling General & Administrative Expenses	1,432		4,330
Total operating lease cost		7,750		23,579

Amortization of finance lease assets	Cost of sales	$	51	$	160
Interest on finance lease liabilities	Interest expense	1		3
Total finance lease cost		52		163
Net lease cost		$	7,802	$	23,742

^(a) - Includes short-term lease costs of $1,981 and $5,382 and variable lease costs of $995 and $2,675 for the three and nine month periods ended September 30, 2019, respectively.

Maturities of Operating Lease Liabilities

The following table presents the future maturities of the Company's lease obligations:



	September 30, 2019
	Operating Leases		Finance Leases		Total
2019	$	8,119	$	—	$	8,119
2020	31,099		—		31,099
2021	17,802		5,063		22,865
2022	13,494		—		13,494
2023	9,549		—		9,549
After 2024	24,016		—		24,016
Total lease payments	104,079		5,063		109,142
Less: Interest	15,113		—		15,113
Present value of lease liabilities	$	88,966	$	5,063	$	94,029

Maturities of Financing Lease Liabilities

The following table presents the future maturities of the Company's lease obligations:



	September 30, 2019
	Operating Leases		Finance Leases		Total
2019	$	8,119	$	—	$	8,119
2020	31,099		—		31,099
2021	17,802		5,063		22,865
2022	13,494		—		13,494
2023	9,549		—		9,549
After 2024	24,016		—		24,016
Total lease payments	104,079		5,063		109,142
Less: Interest	15,113		—		15,113
Present value of lease liabilities	$	88,966	$	5,063	$	94,029