v3.20.4

Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases | NOTE 8. LEASES We have operating and finance leases for certain facilities and equipment used in our operations. Our leases generally have remaining lease terms of up to 15 years. Some of our real estate operating leases contain renewal options that may be exercised, and some of our leases include options to terminate the leases within one year. We have recognized a right-of-use asset for both operating and finance leases, and a corresponding lease liability that represents the present value of our obligation to make payments over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases, which was determined using a portfolio approach based on the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate in the currency of the lease, which will be updated on a quarterly basis for measurement of new lease liabilities. The components of lease expense were as follows:
| 2020 | 2019
Operating lease cost | $ | 5,896 |  | $ | 5,684 |
Finance lease cost: |  |
Amortization of right-of-use assets | $ | 287 |  | $ | 271 |
Interest on lease obligation | 156 |  | 169 |
Total finance lease cost | $ | 443 |  | $ | 440 |
The following table provides supplemental cash flows information related to leases:
| 2020 | 2019
Cash Flows from Operating Activities |  |
Cash paid for amounts included in lease obligations: |  |
Operating cash flows from operating leases | $ | 4,852 |  | $ | 4,583 |
Supplemental Lease Cash Flow Disclosures |  |
Operating lease right-of-use assets obtained in exchange for new operating lease obligations | $ | 5,270 |  | $ | 7,818 |
The following tables set forth supplemental balance sheet information related to leases at December 31:
| 2020 | 2019
Operating Leases |  |
Operating lease right-of-use assets | $ | 24,714 | $ | 24,039
Accounts payable and accrued liabilities | $ | 3,537 | 3,451
Operating lease obligation | 22,202 | 21,804
Total operating lease obligation | $ | 25,739 | $ | 25,255
Finance Leases |  |
Property, plant and equipment, at cost | $ | 3,586 | $ | 3,534
Accumulated depreciation and amortization | (1,361) | (1,296)
Property, plant and equipment, net | $ | 2,225 | $ | 2,238
Current portion of long-term debt | $ | 189 | $ | 162
Long-term debt | 1,847 | 1,872
Total finance lease obligation | $ | 2,036 | $ | 2,034
| 2020 | 2019
Weighted-Average Remaining Lease Term (years) |  |
Operating leases | 8.5 | 8.4
Finance leases | 9.9 | 10.3
Weighted-Average Discount Rate |  |
Operating leases | 4.1 | % | 4.2 | %
Finance leases | 8.1 | % | 8.4 | %
The following table provides the expected future minimum maturities of lease obligations:
| Operating Leases |  | Finance Leases
2021 | $ | 4,808 |  |  | $ | 350 |
2022 | 4,527 |  |  | 333 |
2023 | 4,094 |  |  | 300 |
2024 | 3,560 |  |  | 276 |
2025 | 2,904 |  |  | 272 |
Thereafter | 11,230 |  |  | 1,609 |
Total lease payments | 31,123 |  |  | 3,140 |
Less: imputed interest | (5,384) |  |  | (1,104) |
Total | $ | 25,739 |  |  | $ | 2,036 |
Leases | NOTE 8. LEASES We have operating and finance leases for certain facilities and equipment used in our operations. Our leases generally have remaining lease terms of up to 15 years. Some of our real estate operating leases contain renewal options that may be exercised, and some of our leases include options to terminate the leases within one year. We have recognized a right-of-use asset for both operating and finance leases, and a corresponding lease liability that represents the present value of our obligation to make payments over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases, which was determined using a portfolio approach based on the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate in the currency of the lease, which will be updated on a quarterly basis for measurement of new lease liabilities. The components of lease expense were as follows:
| 2020 | 2019
Operating lease cost | $ | 5,896 |  | $ | 5,684 |
Finance lease cost: |  |
Amortization of right-of-use assets | $ | 287 |  | $ | 271 |
Interest on lease obligation | 156 |  | 169 |
Total finance lease cost | $ | 443 |  | $ | 440 |
The following table provides supplemental cash flows information related to leases:
| 2020 | 2019
Cash Flows from Operating Activities |  |
Cash paid for amounts included in lease obligations: |  |
Operating cash flows from operating leases | $ | 4,852 |  | $ | 4,583 |
Supplemental Lease Cash Flow Disclosures |  |
Operating lease right-of-use assets obtained in exchange for new operating lease obligations | $ | 5,270 |  | $ | 7,818 |
The following tables set forth supplemental balance sheet information related to leases at December 31:
| 2020 | 2019
Operating Leases |  |
Operating lease right-of-use assets | $ | 24,714 | $ | 24,039
Accounts payable and accrued liabilities | $ | 3,537 | 3,451
Operating lease obligation | 22,202 | 21,804
Total operating lease obligation | $ | 25,739 | $ | 25,255
Finance Leases |  |
Property, plant and equipment, at cost | $ | 3,586 | $ | 3,534
Accumulated depreciation and amortization | (1,361) | (1,296)
Property, plant and equipment, net | $ | 2,225 | $ | 2,238
Current portion of long-term debt | $ | 189 | $ | 162
Long-term debt | 1,847 | 1,872
Total finance lease obligation | $ | 2,036 | $ | 2,034
| 2020 | 2019
Weighted-Average Remaining Lease Term (years) |  |
Operating leases | 8.5 | 8.4
Finance leases | 9.9 | 10.3
Weighted-Average Discount Rate |  |
Operating leases | 4.1 | % | 4.2 | %
Finance leases | 8.1 | % | 8.4 | %
The following table provides the expected future minimum maturities of lease obligations:
| Operating Leases |  | Finance Leases
2021 | $ | 4,808 |  |  | $ | 350 |
2022 | 4,527 |  |  | 333 |
2023 | 4,094 |  |  | 300 |
2024 | 3,560 |  |  | 276 |
2025 | 2,904 |  |  | 272 |
Thereafter | 11,230 |  |  | 1,609 |
Total lease payments | 31,123 |  |  | 3,140 |
Less: imputed interest | (5,384) |  |  | (1,104) |
Total | $ | 25,739 |  |  | $ | 2,036 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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