Leases (Tables)

12 Months Ended

Dec. 31, 2020

The table below details the components of net lease cost for the periods presented ($ in thousands):

	Year Ended December 31,
	2020			2019
Finance leases
Amortization of right-of-use assets	$	1,856		$	2,162
Interest on lease liabilities		254			307
Operating lease cost		5,188			5,183
Short-term lease cost		423			370
Variable lease cost		1,286			1,387
Sublease income		(335	)		(331	)
Net lease cost	$	8,672		$	9,078

Cash Payments Included in Measurement of Lease Liabilities

The table below details the cash payments included in the measurement of lease liabilities during the periods presented ($ in thousands):

	Year Ended December 31,
	2020		2019
Finance leases
Operating cash flows included in operating activities	$	254	$	307
Financing cash flows included in payments under finance lease obligations		1,715		1,964
Operating leases
Operating cash flows (fixed payments) included in other operating activities, net		4,988		5,092
Operating cash flows (liability reduction) included in other operating activities, net		3,856		5,404

Balance Sheet Information and Weighted-Average Lease Terms and Discount Rates Related to Leases

The table below details balance sheet information, as well as weighted-average lease terms and discount rates, for the periods presented ($ in thousands):

	Year Ended December 31,
	2020			2019
Finance lease right-of-use assets, net of accumulated depreciation	$	7,471		$	9,326
Finance lease liabilities		7,805			9,520
Operating lease right-of-use assets		30,901			31,182
Operating lease liabilities		32,290			32,354

Weighted-average lease term
Finance leases	8.53 years			8.62 years
Operating leases	8.65 years			9.05 years

Weighted-average discount rate
Finance leases		3.10	%		3.01	%
Operating leases		3.41	%		3.51	%

Future Minimum Rental Commitments Under Finance and Operating Leases

At December 31, 2020, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):

	Finance Leases			Operating Leases
2021	$	1,615		$	4,714
2022		1,556			4,456
2023		871			4,342
2024		572			4,449
2025		584			4,464
Thereafter		3,868			15,040
Total minimum lease payments		9,066			37,465
Less imputed interest		(1,261	)		(5,175	)
Lease liabilities	$	7,805		$	32,290