Leases, Codification Topic 842

12 Months Ended

Dec. 31, 2021

LeasesWe have operating leases for our corporate and division offices, production facilities, model homes, and certain office and production equipment. Additionally, we have entered into finance leases for one of our production facilities and certain plant equipment. Our leases have remaining lease terms of up to 18.7 years, some of which include options to extend the leases for up to 20 years, and some of which include options to terminate the lease. See Note 1 herein for additional information regarding leases.

The components of lease expense were as follows:


	Year Ended December 31,
	2021		2020		2019
Lease expense
Operating lease expense	$	31,923	$	31,704	$	30,991
Finance lease expense:
Amortization of ROU assets	1,798		1,313		382
Interest on lease liabilities	429		281		76
Short-term lease expense	24,012		24,361		26,843

Total lease expense	$	58,162	$	57,659	$	58,292

Other information related to leases was as follows:


	Year Ended December 31,
	2021			2020
Supplemental Cash Flows Information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	27,849		$	27,953
Operating cash flows from finance leases	$	429		$	281
Financing cash flows from finance leases	$	1,363		$	989

ROU assets obtained in exchange for lease obligations:
Operating leases	$	26,781		$	10,159
Finance leases	$	603		$	10,034

Weighted-average remaining lease term (in years):
Operating leases	6.3			4.7
Finance leases	11.7			12.5

Weighted-average discount rate:
Operating leases	3.0		%	3.4		%
Finance leases	2.8		%	2.8		%

We are committed under multiple non-cancelable operating and finance leases involving office space, model homes, production facilities, automobiles and equipment. Future lease payments under these operating and finance leases as of December 31, 2021 are as follows:


Year Ending December 31,	Operating Leases		Finance Leases
2022	$	29,337	$	1,841
2023	17,851		1,846
2024	12,135		1,851
2025	7,246		1,855
2026	3,876		2,804
Thereafter	18,441		8,166
Total lease payments	88,886		18,363
Less:
Imputed interest	8,499		2,950
Short-term lease payments	5,822		—
Total lease liability	$	74,565	$	15,413

Leases

The components of lease expense were as follows:


	Year Ended December 31,
	2021		2020		2019
Lease expense
Operating lease expense	$	31,923	$	31,704	$	30,991
Finance lease expense:
Amortization of ROU assets	1,798		1,313		382
Interest on lease liabilities	429		281		76
Short-term lease expense	24,012		24,361		26,843

Total lease expense	$	58,162	$	57,659	$	58,292

Other information related to leases was as follows:


	Year Ended December 31,
	2021			2020
Supplemental Cash Flows Information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	27,849		$	27,953
Operating cash flows from finance leases	$	429		$	281
Financing cash flows from finance leases	$	1,363		$	989

ROU assets obtained in exchange for lease obligations:
Operating leases	$	26,781		$	10,159
Finance leases	$	603		$	10,034

Weighted-average remaining lease term (in years):
Operating leases	6.3			4.7
Finance leases	11.7			12.5

Weighted-average discount rate:
Operating leases	3.0		%	3.4		%
Finance leases	2.8		%	2.8		%


Year Ending December 31,	Operating Leases		Finance Leases
2022	$	29,337	$	1,841
2023	17,851		1,846
2024	12,135		1,851
2025	7,246		1,855
2026	3,876		2,804
Thereafter	18,441		8,166
Total lease payments	88,886		18,363
Less:
Imputed interest	8,499		2,950
Short-term lease payments	5,822		—
Total lease liability	$	74,565	$	15,413