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LEASES

9 Months Ended

Sep. 30, 2021

NOTE 10 — LEASES

The table below summarizes the right-of-use assets and lease liabilities in the Company’s Condensed Consolidated Balance sheets:


Operating Leases	Balance Sheet Classification	September 30, 2021		December 31, 2020
Right-of-use assets	Other assets	$	49,325	$	43,570

Current liabilities	Other current liabilities	$	10,814	$	11,502
Noncurrent liabilities	Other liabilities		40,063		33,988
Total lease liabilities		$	50,877	$	45,490

Total lease expense, which is included in Cost of goods sold and Selling, general and administrative expenses in the Company’s Consolidated Statements of Income, was $5,619 and $16,279 in the three and nine months ended September 30, 2021, respectively, and $5,655 and $17,665 in the three and nine months ended September 30, 2020, respectively. Cash paid for amounts included in the measurement of lease liabilities for the three and nine months ended September 30, 2021 were $5,896 and $12,548, respectively, and are included in Net cash provided by operating activities in the Company’s Consolidated Statements of Cash Flows. Cash paid for amounts included in the measurement of lease liabilities for the three and nine months ended September 30, 2020 were $3,733 and $11,727, respectively, and are included in Net cash provided by operating activities in the Company’s Consolidated Statements of Cash Flows. Right-of-use assets obtained in exchange for operating lease liabilities were $3,218 and $12,912 during the three and nine months ended September 30, 2021, respectively, and $214 and $2,249 for the three and nine months ended September 30, 2020, respectively.

The total future minimum lease payments for noncancelable operating leases were as follows:


	September 30, 2021
2021	$	3,467
2022		11,382
2023		9,348
2024		7,715
2025		4,809
After 2025		21,164
Total lease payments	$	57,885
Less: Imputed interest		7,008
Operating lease liabilities	$	50,877

As of September 30, 2021, the weighted average remaining lease term is 8.6 years and the weighted average discount rate used to determine the operating lease liability is 3.1%.