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Leases (Tables)
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Summary of Lease Costs

The following table summarizes the lease costs (in thousands), which are included in transportation costs and general and administrative costs in the accompanying consolidated statement of income:

 

Twelve Months Ended

 

 

December 31, 2020

 

 

December 31, 2019

 

 

 

 

 

 

 

 

 

Amortization of finance right-of-use assets

$

2,309

 

 

$

2,326

 

Interest on finance lease liabilities

 

135

 

 

 

252

 

Finance lease cost

 

2,444

 

 

 

2,578

 

 

 

 

 

 

 

 

 

Operating lease cost

 

10,946

 

 

 

10,861

 

Short-term lease cost

 

238

 

 

 

289

 

Sublease income

 

(469

)

 

 

(507

)

Total lease cost

$

13,159

 

 

$

13,221

 

 
Schedule of Maturity of Operating and Finance Leases Liabilities

The following table represents the maturity of operating and finance lease liabilities (in thousands):

 

 

December 31, 2020

 

 

Operating Leases

 

 

Finance Leases

 

 

Total

 

Year 1

$

11,082

 

 

$

1,817

 

 

$

12,899

 

Year 2

 

9,714

 

 

 

8

 

 

 

9,722

 

Year 3

 

7,607

 

 

 

-

 

 

 

7,607

 

Year 4

 

6,369

 

 

 

-

 

 

 

6,369

 

Year 5

 

6,312

 

 

 

-

 

 

 

6,312

 

Thereafter

 

8,803

 

 

 

-

 

 

 

8,803

 

Total

 

49,887

 

 

 

1,825

 

 

 

51,712

 

Imputed interest

 

3,466

 

 

 

24

 

 

 

3,490

 

Present value of lease payments

 

46,421

 

 

 

1,801

 

 

 

48,222

 

Less: current lease liabilities

 

10,093

 

 

 

1,793

 

 

 

11,886

 

Long-term lease liabilities

$

36,328

 

 

$

8

 

 

$

36,336

 

 

 

 

December 31, 2019

 

 

Operating Leases

 

 

Finance Leases

 

 

Total

 

Year 1

$

9,703

 

 

$

3,183

 

 

$

12,886

 

Year 2

 

8,361

 

 

 

1,836

 

 

 

10,197

 

Year 3

 

7,029

 

 

 

8

 

 

 

7,037

 

Year 4

 

4,861

 

 

 

-

 

 

 

4,861

 

Year 5

 

3,706

 

 

 

-

 

 

 

3,706

 

Thereafter

 

7,190

 

 

 

-

 

 

 

7,190

 

Total

 

40,850

 

 

 

5,027

 

 

 

45,877

 

Imputed interest

 

3,765

 

 

 

159

 

 

 

3,924

 

Present value of lease payments

 

37,085

 

 

 

4,868

 

 

 

41,953

 

Less: current lease liabilities

 

8,567

 

 

 

3,048

 

 

 

11,615

 

Long-term lease liabilities

$

28,518

 

 

$

1,820

 

 

$

30,338

 
Summary of Supplemental Cash Flow and Noncash Information

The following table presents supplemental cash flow and noncash information related to leases:

 

 

Twelve Months Ended

 

 

December 31, 2020

 

 

December 31, 2019

 

Operating cash flows from operating leases

$

9,419

 

 

$

9,702

 

Financing cash flows from finance leases

 

3,066

 

 

 

2,954

 

Operating cash flows from finance leases

 

135

 

 

 

252

 

Cash paid for lease liabilities

$

12,620

 

 

$

12,908

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange for new

$

(71

)

 

$

6

 

  financing lease liabilities (net of disposals)

 

 

 

 

 

 

 

Rights-of-use assets obtained in exchange for new

$

17,875

 

 

$

13,242

 

  operating lease liabilities (net of disposals)

 

 

 

 

 

 

 
Summary Of Weighted Average Remaining Lease Term and Discount Rates

 

The weighted average remaining lease term and discount rates as of December 31 (in thousands) are as follows:

 

 

December 31, 2020

 

 

December 31, 2019

 

Weighted average remaining lease term — finance leases

0.6 years

 

 

1.59 years

 

Weighted average remaining lease term — operating leases

5.61 years

 

 

5.38 years

 

 

 

 

 

 

 

 

 

Weighted average discount rate — finance leases

 

3.88

%

 

 

3.88

%

Weighted average discount rate — operating leases

 

2.64

%

 

 

3.44

%