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LEASE COMMITMENTS | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
LEASE COMMITMENTS | LEASE COMMITMENTS We lease certain warehouse, plant, and office facilities as well as certain equipment under noncancelable operating and finance leases expiring at various dates through the year 2034. Most of the operating leases contain renewal options and certain leases include options to purchase the related asset during or at the end of the lease term. Amortization expense related to finance leases is included in depreciation expense while rent expense related to operating leases is included within cost of sales and selling research & development and administrative expenses (“SG&A”). The components of lease expense for the years ended December 31, 2020 and 2019 were as follows:
Year Ended December 31, | 2020 |  | 2019
Operating lease cost | $ | 23,968 |  |  | $ | 23,410 |
Finance lease cost: |  |  |
Amortization of right-of-use assets | $ | 3,982 |  |  | $ | 4,217 |
Interest on lease liabilities | 1,414 |  |  | 1,353 |
Total finance lease cost | $ | 5,396 |  |  | $ | 5,570 |
Short-term lease and variable lease costs | $ | 9,421 |  |  | $ | 8,629 |
Supplemental cash flow information related to leases was as follows:
Year Ended December 31, | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 23,484 |  |  | $ | 21,872 |
Operating cash flows from finance leases | 1,372 |  |  | 1,245 |
Financing cash flows from finance leases | 4,436 |  |  | 4,730 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |
Operating leases | $ | 24,477 |  |  | $ | 15,226 |
Finance leases | 3,642 |  |  | 15,957 |
Supplemental balance sheet information related to leases was as follows:
| December 31, 2020 |  | December 31, 2019
Operating Leases |  |  |
Operating lease right-of-use assets | $ | 69,845 |  |  | $ | 72,377 |
Accounts payable, accrued and other liabilities | $ | 18,804 |  |  | $ | 16,578 |
Operating lease liabilities | 52,212 |  |  | 55,276 |
Total operating lease liabilities | $ | 71,016 |  |  | $ | 71,854 |
Finance Leases |  |  |
Property, plant and equipment, gross | $ | 49,760 |  |  | $ | 47,020 |
Accumulated depreciation | (7,258) |  |  | (4,271) |
Property, plant and equipment, net | $ | 42,502 |  |  | $ | 42,749 |
Current maturities of long-term obligations, net of unamortized debt issuance cost | $ | 4,258 |  |  | $ | 4,318 |
Long-term obligations, net of unamortized debt issuance cost | 25,767 |  |  | 25,634 |
Total finance lease liabilities | $ | 30,025 |  |  | $ | 29,952 |
Weighted Average Remaining Lease Term (in years) |  |  |
Operating leases | 5.0 |  | 6.1
Finance leases | 7.2 |  | 7.0
Weighted Average Discount Rate |  |  |
Operating leases | 4.21 | % |  | 5.05 | %
Finance leases | 4.85 | % |  | 5.13 | %
Maturities of lease liabilities as of December 31, 2020, were as follows:
| Operating Leases |  | Finance Leases
Year 1 | $ | 21,351 |  |  | $ | 5,542 |
Year 2 | 18,278 |  |  | 4,378 |
Year 3 | 10,999 |  |  | 3,509 |
Year 4 | 7,844 |  |  | 2,973 |
Year 5 | 6,388 |  |  | 2,918 |
Thereafter | 14,880 |  |  | 18,080 |
Total lease payments | 79,740 |  |  | 37,400 |
Less imputed interest | (8,724) |  |  | (7,375) |
Total | $ | 71,016 |  |  | $ | 30,025 |
As of December 31, 2020, we have additional operating leases that have not yet commenced of $0.1 million and no finance leases that have not yet commenced. These operating leases will commence in 2021 with lease terms of 3 to 4 years.
LEASE COMMITMENTS | LEASE COMMITMENTS We lease certain warehouse, plant, and office facilities as well as certain equipment under noncancelable operating and finance leases expiring at various dates through the year 2034. Most of the operating leases contain renewal options and certain leases include options to purchase the related asset during or at the end of the lease term. Amortization expense related to finance leases is included in depreciation expense while rent expense related to operating leases is included within cost of sales and selling research & development and administrative expenses (“SG&A”). The components of lease expense for the years ended December 31, 2020 and 2019 were as follows:
Year Ended December 31, | 2020 |  | 2019
Operating lease cost | $ | 23,968 |  |  | $ | 23,410 |
Finance lease cost: |  |  |
Amortization of right-of-use assets | $ | 3,982 |  |  | $ | 4,217 |
Interest on lease liabilities | 1,414 |  |  | 1,353 |
Total finance lease cost | $ | 5,396 |  |  | $ | 5,570 |
Short-term lease and variable lease costs | $ | 9,421 |  |  | $ | 8,629 |
Supplemental cash flow information related to leases was as follows:
Year Ended December 31, | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 23,484 |  |  | $ | 21,872 |
Operating cash flows from finance leases | 1,372 |  |  | 1,245 |
Financing cash flows from finance leases | 4,436 |  |  | 4,730 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |
Operating leases | $ | 24,477 |  |  | $ | 15,226 |
Finance leases | 3,642 |  |  | 15,957 |
Supplemental balance sheet information related to leases was as follows:
| December 31, 2020 |  | December 31, 2019
Operating Leases |  |  |
Operating lease right-of-use assets | $ | 69,845 |  |  | $ | 72,377 |
Accounts payable, accrued and other liabilities | $ | 18,804 |  |  | $ | 16,578 |
Operating lease liabilities | 52,212 |  |  | 55,276 |
Total operating lease liabilities | $ | 71,016 |  |  | $ | 71,854 |
Finance Leases |  |  |
Property, plant and equipment, gross | $ | 49,760 |  |  | $ | 47,020 |
Accumulated depreciation | (7,258) |  |  | (4,271) |
Property, plant and equipment, net | $ | 42,502 |  |  | $ | 42,749 |
Current maturities of long-term obligations, net of unamortized debt issuance cost | $ | 4,258 |  |  | $ | 4,318 |
Long-term obligations, net of unamortized debt issuance cost | 25,767 |  |  | 25,634 |
Total finance lease liabilities | $ | 30,025 |  |  | $ | 29,952 |
Weighted Average Remaining Lease Term (in years) |  |  |
Operating leases | 5.0 |  | 6.1
Finance leases | 7.2 |  | 7.0
Weighted Average Discount Rate |  |  |
Operating leases | 4.21 | % |  | 5.05 | %
Finance leases | 4.85 | % |  | 5.13 | %
Maturities of lease liabilities as of December 31, 2020, were as follows:
| Operating Leases |  | Finance Leases
Year 1 | $ | 21,351 |  |  | $ | 5,542 |
Year 2 | 18,278 |  |  | 4,378 |
Year 3 | 10,999 |  |  | 3,509 |
Year 4 | 7,844 |  |  | 2,973 |
Year 5 | 6,388 |  |  | 2,918 |
Thereafter | 14,880 |  |  | 18,080 |
Total lease payments | 79,740 |  |  | 37,400 |
Less imputed interest | (8,724) |  |  | (7,375) |
Total | $ | 71,016 |  |  | $ | 30,025 |
As of December 31, 2020, we have additional operating leases that have not yet commenced of $0.1 million and no finance leases that have not yet commenced. These operating leases will commence in 2021 with lease terms of 3 to 4 years.

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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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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating 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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