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Leases (Tables)
9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Schedule of Lease Expense, Payments for Operating Leases, and Information Related to Lease Term and Discount Rates
Our expenses and payments for operating leases were as follows:
Three Months EndedNine Months Ended
(Dollars in thousands)September 30, 2021September 30, 2020September 30, 2021September 30, 2020
Operating leases expense$594 $846 $2,054 $2,268 
Short-term leases expense$97 $154 $227 $384 
Payments on operating lease obligations$610 $719 $1,945 $2,187 
The following table includes information regarding the lease term and discount rates utilized in the calculation of the present value of net future minimum lease payments:
Finance
Leases
Operating
Leases
Weighted Average Remaining Lease Term2.1 years2.1 years
Weighted Average Discount Rate3.67%3.38%
Assets and Liabilities Balance Related to Finance and Operating Leases
Our assets and liabilities balances related to finance and operating leases reflected in the condensed consolidated statements of financial position were as follows:
(Dollars in thousands)Location in Statements of
Financial Position
September 30, 2021December 31, 2020
Finance lease right-of-use assetsProperty, plant and equipment, net$391 $7,017 
Operating lease right-of-use assetsOther long-term assets$3,534 $4,216 
Finance lease obligations, current portionOther accrued liabilities$184 $4,755 
Finance lease obligations, non-current portionOther long-term liabilities$192 $322 
Total finance lease obligations$376 $5,077 
Operating lease obligations, current portionOther accrued liabilities$2,031 $2,275 
Operating lease obligations, non-current portionOther long-term liabilities$2,022 $2,219 
Total operating lease obligations$4,053 $4,494 
Future Minimum Lease Payments for Financing Leases
The following table includes future minimum lease payments under finance and operating leases together with the present value of the net future minimum lease payments as of September 30, 2021:
FinanceOperating
(Dollars in thousands)Leases SignedLess: Leases Not Yet CommencedLeases in EffectLeases SignedLess: Leases Not Yet CommencedLeases in Effect
2021— 817 (215)602 
2022407 (213)194 3,168 (1,146)2,022 
2023473 (284)189 2,370 (1,153)1,217 
2024284 (284)— 1,519 (1,200)319 
2025284 (284)— 1,255 (1,216)39 
Thereafter355 (355)— 12,537 (12,534)
Total lease payments1,811 (1,420)391 21,666 (17,464)4,202 
Less: Interest(60)45 (15)(3,797)3,648 (149)
Present Value of Net Future Minimum Lease Payments1,751 (1,375)376 17,869 (13,816)4,053 
Future Minimum Lease Payments for Operating Leases
The following table includes future minimum lease payments under finance and operating leases together with the present value of the net future minimum lease payments as of September 30, 2021:
FinanceOperating
(Dollars in thousands)Leases SignedLess: Leases Not Yet CommencedLeases in EffectLeases SignedLess: Leases Not Yet CommencedLeases in Effect
2021— 817 (215)602 
2022407 (213)194 3,168 (1,146)2,022 
2023473 (284)189 2,370 (1,153)1,217 
2024284 (284)— 1,519 (1,200)319 
2025284 (284)— 1,255 (1,216)39 
Thereafter355 (355)— 12,537 (12,534)
Total lease payments1,811 (1,420)391 21,666 (17,464)4,202 
Less: Interest(60)45 (15)(3,797)3,648 (149)
Present Value of Net Future Minimum Lease Payments1,751 (1,375)376 17,869 (13,816)4,053