LEASES

6 Months Ended

Jun. 30, 2021

LEASES

LEASES

NOTE 10 — LEASES

The table below summarizes the right-of-use assets and lease liabilities in the Company’s Condensed Consolidated Balance sheets:

Operating Leases	Balance Sheet Classification	June 30, 2021		December 31, 2020
Right-of-use assets	Other assets	$	47,268	$	43,570
Current liabilities	Other current liabilities	$	10,651	$	11,502
Noncurrent liabilities	Other liabilities		38,259		33,988
Total lease liabilities		$	48,910	$	45,490

Total lease expense, which is included in Cost of goods sold and Selling, general and administrative expenses in the Company’s Consolidated Statements of Income, was $5,608 and $10,660 in the three and six months ended June 30, 2021 and $5,990 and $11,209 in the three and six months ended June 30, 2020, respectively. Cash paid for amounts included in the measurement of lease liabilities for the three and six months ended June 30, 2021, respectively, were $3,263 and $6,652 and are included in Net cash provided by operating activities in the Company’s Consolidated Statements of Cash Flows. Cash paid for amounts included in the measurement of lease liabilities for the three and six months ended June 30, 2020, respectively, were $3,897 and $7,994 and are included in Net cash provided by operating activities in the Company’s Consolidated Statements of Cash Flows. Right-of-use assets obtained in exchange for operating lease liabilities were $9,694 during the three and six months ended June 30, 2021 and $0 and $2,035 for the three and six months ended June 30, 2020, respectively.

The total future minimum lease payments for noncancelable operating leases were as follows:

	June 30, 2021
2021	$	6,417
2022		10,496
2023		8,478
2024		6,848
2025		4,024
After 2025		20,677
Total lease payments	$	56,940
Less: Imputed interest		8,030
Operating lease liabilities	$	48,910

As of June 30, 2021, the weighted average remaining lease term is 8.7 years and the weighted average discount rate used to determine the operating lease liability is 3.5%.