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LEASES
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
LEASES LEASES
The Company’s lease portfolio is predominately operating leases for real estate, vehicles and industrial equipment utilized in operations and rail cars. The Company presents operating lease balances separately on the consolidated balance sheets. The Company's finance leases relate to equipment, rail cars and certain real estate. The following table presents our finance lease balances and their classification on the consolidated balance sheets (in thousands):
Finance Lease Balances (Classification)December 31, 2021December 31, 2020
ROU assets (Property, plant and equipment, net)$81,267 $60,271 
Current portion of lease liabilities (Accrued expenses)10,893 5,840 
Long-term portion of lease liabilities (Other long-term liabilities)72,051 55,038 
The Company’s lease expense was as follows (in thousands):
For the years ended December 31,
202120202019
Operating lease cost$50,264 $53,194 $55,402 
Finance lease cost:
Amortization of ROU assets9,504 4,966 1,142 
Interest on lease liabilities2,544 1,523 1,415 
Total finance lease cost12,048 6,489 2,557 
Short-term lease cost102,913 70,692 84,749 
Variable lease cost3,546 3,691 6,702 
Total lease cost$168,771 $134,066 $149,410 
Other information related to leases was as follows:
Weighted Average Remaining Lease Term (years)December 31, 2021December 31, 2020
Operating leases4.45.1
Finance leases8.19.3
Weighted Average Discount RateDecember 31, 2021December 31, 2020
Operating leases4.35 %4.89 %
Finance leases3.65 %3.57 %
For the years ended December 31,
Supplemental Cash Flow Related Disclosures (in thousands)202120202019
Cash paid for amounts related to lease liabilities:
Operating cash flows from operating leases$50,963 $53,498 $56,240 
Operating cash flows from finance leases2,544 1,523 1,415 
Financing cash flows from finance leases8,458 4,469 586 
ROU assets obtained in exchange for operating lease liabilities (1)
55,556 34,358 17,699 
ROU assets obtained in exchange for finance lease liabilities30,476 32,526 33,449 
_____________
(1) Includes $34.3 million of operating leases acquired with the HydroChemPSC business

At December 31, 2021, the Company's future lease payments under non-cancelable leases that have lease terms in excess of one year were as follows (in thousands):
Years ending December 31,December 31, 2021
Operating LeasesFinance Leases
2022$56,124 $14,442 
202344,515 12,915 
202432,302 12,253 
202520,599 11,578 
202613,735 11,591 
Thereafter17,233 34,077 
Total future lease payments184,508 96,856 
Amount representing interest(18,903)(13,912)
Total lease liabilities$165,605 $82,944 
At December 31, 2021, none of the Company's executed leases that had not yet commenced will create significant rights or obligations in the future and sublease transactions are not material. Additionally, the Company does not have any related party leases, and there were no restrictions or covenants imposed by its leases.
LEASES LEASES
The Company’s lease portfolio is predominately operating leases for real estate, vehicles and industrial equipment utilized in operations and rail cars. The Company presents operating lease balances separately on the consolidated balance sheets. The Company's finance leases relate to equipment, rail cars and certain real estate. The following table presents our finance lease balances and their classification on the consolidated balance sheets (in thousands):
Finance Lease Balances (Classification)December 31, 2021December 31, 2020
ROU assets (Property, plant and equipment, net)$81,267 $60,271 
Current portion of lease liabilities (Accrued expenses)10,893 5,840 
Long-term portion of lease liabilities (Other long-term liabilities)72,051 55,038 
The Company’s lease expense was as follows (in thousands):
For the years ended December 31,
202120202019
Operating lease cost$50,264 $53,194 $55,402 
Finance lease cost:
Amortization of ROU assets9,504 4,966 1,142 
Interest on lease liabilities2,544 1,523 1,415 
Total finance lease cost12,048 6,489 2,557 
Short-term lease cost102,913 70,692 84,749 
Variable lease cost3,546 3,691 6,702 
Total lease cost$168,771 $134,066 $149,410 
Other information related to leases was as follows:
Weighted Average Remaining Lease Term (years)December 31, 2021December 31, 2020
Operating leases4.45.1
Finance leases8.19.3
Weighted Average Discount RateDecember 31, 2021December 31, 2020
Operating leases4.35 %4.89 %
Finance leases3.65 %3.57 %
For the years ended December 31,
Supplemental Cash Flow Related Disclosures (in thousands)202120202019
Cash paid for amounts related to lease liabilities:
Operating cash flows from operating leases$50,963 $53,498 $56,240 
Operating cash flows from finance leases2,544 1,523 1,415 
Financing cash flows from finance leases8,458 4,469 586 
ROU assets obtained in exchange for operating lease liabilities (1)
55,556 34,358 17,699 
ROU assets obtained in exchange for finance lease liabilities30,476 32,526 33,449 
_____________
(1) Includes $34.3 million of operating leases acquired with the HydroChemPSC business

At December 31, 2021, the Company's future lease payments under non-cancelable leases that have lease terms in excess of one year were as follows (in thousands):
Years ending December 31,December 31, 2021
Operating LeasesFinance Leases
2022$56,124 $14,442 
202344,515 12,915 
202432,302 12,253 
202520,599 11,578 
202613,735 11,591 
Thereafter17,233 34,077 
Total future lease payments184,508 96,856 
Amount representing interest(18,903)(13,912)
Total lease liabilities$165,605 $82,944 
At December 31, 2021, none of the Company's executed leases that had not yet commenced will create significant rights or obligations in the future and sublease transactions are not material. Additionally, the Company does not have any related party leases, and there were no restrictions or covenants imposed by its leases.