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Leases | 9 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
Leases |
10. | LEASES
The Company leases office space, storage warehouses and certain plant equipment under various operating leases. The Company’s operating leases have remaining lease terms of 1 year to 8 years. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. For the nine months ended September 30, 2020 and September 30, 2019, total operating lease expense was $6.3 million and $6.3 million, respectively. The weighted average remaining lease term at September 30, 2020 and December 31, 2019 was 5.7 years and 6.5 years, respectively. The weighted average discount rate at September 30, 2020 and December 31, 2019 was 3.51% and 3.66%, respectively. The following table includes supplemental cash flow information for the nine months ended September 30, 2020 and September 30, 2019 and supplemental balance sheet information at September 30, 2020 and December 31, 2019 related to operating leases (in thousands):
|  | Nine Months Ended |
Supplemental cash flow information |  | September 30, 2020 |  |  | September 30, 2019 |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 6,506 |  |  | $ | 6,356 |
Operating ROU assets obtained in exchange for lease liabilities |  | $ | 2,254 |  |  | $ | 855 |
Supplemental balance sheet information |  | September 30, 2020 |  |  | December 31, 2019 |
Operating lease ROU assets |  | $ | 37,056 |  |  | $ | 40,049 |
Operating lease liabilities: |  |  |  |  |  |  |  |
Accrued expenses and other current liabilities |  | $ | 7,961 |  |  | $ | 7,079 |
Operating lease liabilities |  |  | 30,182 |  |  |  | 34,242 |
Total operating lease liabilities |  | $ | 38,143 |  |  | $ | 41,321 |
The following table summarizes maturities of operating lease liabilities at September 30, 2020 (in thousands):
Maturities of operating lease liabilities |  |  |
2020 |  | $ | 2,301 |
2021 |  |  | 9,024 |
2022 |  |  | 7,155 |
2023 |  |  | 6,553 |
2024 |  |  | 6,224 |
Thereafter |  |  | 11,078 |
Total lease payments |  |  | 42,335 |
Less imputed interest |  |  | (4,192 | )
Total operating lease liabilities |  | $ | 38,143 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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