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Lease Arrangements (Tables)

9 Months Ended

Sep. 30, 2021

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