Leases |
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Leases | (3) Leases 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 to 7 years, with a weighted-average remaining lease term of 4 years at December 31, 2021. Some operating leases include options to extend the leases for up to 5 years. The Company’s lease calculations include the impact of options to extend when it is reasonably certain the Company will exercise the option. The Company used a weighted-average discount rate of 1.1% and 1.2% for leases entered into during 2021 and 2020, respectively. The components of net operating lease costs for 2021, 2020 and 2019 were as follows (in thousands):
As of December 31, 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):
Supplemental cash flow information pertaining to the Company’s leasing activity for the years ended December 31, 2021, 2020 and 2019 was as follows (in thousands):
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