Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

NOTE 11 – Leases

The Company leases certain assets used in its business, including land, buildings and equipment.  These leased assets are used for operational and administrative purposes.

The components of lease expense are set forth in the table below:

	Three Months Ended
	March 31,
	2021		2020
Operating lease expense	$	4,235	$	3,730
Finance lease expense:
Amortization of assets		211		209
Interest on lease liabilities		1		7
Short-term lease expense		245		94
Variable lease expense		1,129		711
Total lease expense	$	5,821	$	4,751

The table below sets forth supplemental balance sheet information related to leases.  In our condensed consolidated balance sheets, right of use (“ROU”) assets are included in other long-term assets while lease liabilities are located in accrued liabilities and other for the current portion and other long-term liabilities for the non-current portion:

	March 31, 2021	December 31, 2020
Operating leases:
Operating lease ROU assets	$63,305	$54,457
Current operating lease liabilities	13,891	10,663
Noncurrent operating lease liabilities	32,722	27,041
Total operating lease liabilities	$46,613	$37,704
Finance leases:
Finance lease ROU assets	$2,545	$2,507
Accumulated amortization	(2,515)	(2,298)
Finance lease ROU assets, net	$30	$209
Current finance lease liabilities	$10	$149
Non-current finance lease liabilities	21	24
Total finance lease liabilities	$31	$173
Weighted average remaining lease term (in years):
Operating leases	6.7	7.6
Finance leases	3.0	0.6
Weighted average discount rate:
Operating leases	4.0%	4.0%
Finance leases	3.7%	3.1%

The table below sets forth supplemental cash flow and other information related to leases:

	Three Months Ended
	March 31, 2021	March 31, 2020
Cash paid for the amounts included in the measurements of lease liabilities:
Operating cash outflows from operating leases	$5,570	$4,018
Operating cash outflows from finance leases	1	7
Financing cash outflow from finance leases	141	223
ROU assets obtained in exchange for lease liabilities incurred:
Operating leases	11,640	127

The table below sets forth information about lease liability maturities:

	March 31, 2021
	Operating Leases		Finance Leases
Remainder of 2020	$	11,683	$	9
2021		13,921		11
2022		9,015		10
2023		4,226		3
2024		4,042		-
2025		2,659		-
2026 and thereafter		8,536		-
Total lease payments		54,082		33
Less: imputed interest		(7,469)		(2)
Total lease obligations		46,613		31
Less: current obligations		(13,891)		(10)
Long-term lease obligations	$	32,722	$	21