The Company has operating leases for the use of equipment, corporate office space, and some of its terminal and distribution facilities. The leases have remaining lease terms of 1 to 7 years, with a weighted-average remaining lease term of 3 years at each of September 30, 2021 and December 31, 2020. Some operating leases include options to extend the leases for up to 5 years. The liability for the Company’s operating leases was discounted to present value using a weighted-average discount rate of 2.9% and 3.4% at September 30, 2021 and December 31, 2020, respectively.

The components of lease costs for the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands):

(1)

Includes the costs of leases with a term of 12 months or less.

As of September 30, 2021, future minimum payments under operating leases that were either non-cancelable or subject to significant penalty upon cancellation, including future minimum payments under renewal options that the Company is reasonably certain to exercise, were as follows (in thousands):



2021 (excluding the nine months ended September 30, 2021)	$	329
2022		793
2023		443
2024		436
2025		291
Thereafter		830
Total future minimum lease payments		3,122
Less imputed interest		(103)
Present value of lease liabilities	$	3,019

Supplemental cash flow information pertaining to the Company’s leasing activity for the nine months ended September 30, 2021 and 2020 is as follows (in thousands):


	Nine Months Ended September 30,
	2021		2020
Cash payments for operating lease liabilities	$	1,059	$	1,256
Right-of-use assets obtained in exchange for operating lease obligations	$	1,545	$	17