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Lease Arrangements (Tables) | 9 Months Ended
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Sep. 30, 2021
Leases [Abstract] |
Components of Lease Expense | For the three and nine months ended September 30, 2021 and 2020, the components of lease expense recorded within Selling, General and Administrative expenses are as follows:
| Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(In thousands of U.S. Dollars) | 2021 |  |  |  | 2020 |  |  | 2021 |  |  |  | 2020 |
Operating lease cost (1) | $ | 163 |  |  |  | $ | 133 |  |  | $ | 546 |  |  |  | $ | 392 |
Amortization of lease assets |  | 684 |  |  |  |  | 706 |  |  |  | 2,098 |  |  |  |  | 2,155 |
Interest on lease liabilities |  | 242 |  |  |  |  | 258 |  |  |  | 715 |  |  |  |  | 765 |
Total lease cost | $ | 1,089 |  |  |  | $ | 1,097 |  |  | $ | 3,359 |  |  |  | $ | 3,312 |
(1) | Includes short-term leases and variable lease costs, which are not significant for the three and nine months ended September 30, 2021 and 2020.
Supplemental Cash and Non-Cash Flow Information Related to Leases | For the nine months ended September 30, 2021 and 2020, supplemental cash and non-cash information related to leases is as follows:
| Nine Months Ended |
| September 30, |
(In thousands of U.S. Dollars) |  | 2021 |  |  |  | 2020 |
Cash paid for amounts included in the measurement of lease liabilities | $ |  | 2,907 |  |  | $ |  | 2,721 |
Right-of-use assets obtained in exchange for lease obligations | $ |  | 1,047 |  |  | $ |  | 297 |
Lessee Operating Lease Balance Sheet Amounts and Lines | As of September 30, 2021 and December 31, 2020, supplemental balance sheet information related to leases is as follows:
|  |  | September 30, |  |  | December 31, |
(In thousands of U.S. Dollars) |  |  | 2021 |  |  | 2020 |
Assets | Balance Sheet Classification |  |  |  |  |  |  |  |
Right-of-Use Assets | Property, plant and equipment |  | $ | 12,833 |  |  | $ | 13,911 |
Liabilities | Balance Sheet Classification |  |  |  |  |  |  |  |
Operating Leases | Accrued and other liabilities |  | $ | 15,388 |  |  | $ | 16,634 |
Lessee Operating Leases Weighted Average Remaining Lease Term and Weighted Average Interest Rate | As of September 30, 2021 and December 31, 2020, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s operating leases are as follows:
|  |  | September 30, |  |  | December 31, |  |
|  |  | 2021 |  |  | 2020 |  |
Weighted-average remaining lease term (years) |  |  | 7.0 |  |  |  | 7.6 |  |
Weighted-average discount rate |  |  |  | 5.96 |  | % |  | 5.91 |  | %
Lessee Operating Lease, Maturity | As of September 30, 2021, the maturities of the Company’s operating lease liabilities are as follows:
(In thousands of U.S. Dollars) |  |  |  |
2021 (three months remaining) |  | $ | 924 |
2022 |  |  | 3,360 |
2023 |  |  | 2,454 |
2024 |  |  | 2,230 |
2025 |  |  | 2,078 |
Thereafter |  |  | 8,026 |
Total lease payments |  | $ | 19,072 |
Less: interest expense |  |  | (3,684 | )
Present value of operating lease liabilities |  | $ | 15,388 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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