Leases

9 Months Ended

Sep. 30, 2020

Note 12 – Leases

The Company has operating leases for office, manufacturing and research and development facilities, as well as land leases for certain manufacturing facilities that are accounted for as operating leases. The Company also has operating leases for office equipment and automobiles. Excluding land leases, our leases have remaining lease terms ranging from less than one year to twelve years and may include options to extend the lease for an additional term equal to the original term of the lease. Land leases have remaining lease terms that range from 40 to 43 years and some which specify that the end of the lease term is at the discretion of the lessee. The Company does not have lease arrangements with related parties.

Components of lease expense for the three and nine months ended September 30, 2020 and 2019 were as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Lease cost:
Operating lease cost	$	1,598		$	1,574		$	4,821		$	4,477
Short-term lease cost		472			793			1,371			2,678
Sublease income		(40	)		(39	)		(119	)		(91	)
Total lease cost	$	2,030		$	2,328		$	6,073		$	7,064

Other information related to leases is as follows:

	Nine Months Ended September 30,
	2020			2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	4,855		$	4,539
Right-of-use lease assets obtained in exchange for lease obligations:
Operating leases	$	12,823		$	3,339
Gain on sale and leaseback transactions, net	$	—		$	207
	September 30, 2020			September 30, 2019
Weighted average remaining lease term:
Operating leases	6.9 years			4.6 years
Weighted average discount rate:
Operating leases		4.49	%		5.45	%

A summary of operating leases as of September 30, 2020, under all non-cancellable operating leases with terms exceeding one year is as follows:

2020 (excluding the nine months ended September 30, 2020)	$	1,600
2021		5,690
2022		3,360
2023		2,463
2024		2,223
2025 or later		8,355
Total future minimum lease payments		23,691
Less imputed interest		(3,439	)
Total	$	20,252