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Leases | 9 Months Ended
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Sep. 30, 2021
Leases [Abstract] |
Leases | Leases Activities as Lessee The Company leases equipment, distribution centers, office space, and branch locations throughout the US and Canada. Expenses related to leasing activities for the three months ended September 30, 2021 and September 30, 2020 are as follows (Dollars in thousands):
|  |  |  | Three Months Ended September 30,
Lease Type |  | Classification |  | 2021 |  | 2020
Operating Lease Expense |  | Operating expenses |  | $ | 1,500 |  |  | $ | 1,262 |
Financing Lease Amortization |  | Operating expenses |  | 44 |  |  | $ | 63 |
Financing Lease Interest |  | Interest expense |  | 2 |  |  | 8 |
Financing Lease Expense |  |  |  | 46 |  |  | 71 |
Net Lease Cost |  |  |  | $ | 1,546 |  |  | $ | 1,333 |
Expenses related to leasing activities for the nine months ended September 30, 2021 and September 30, 2020 are as follows (Dollars in thousands):
|  |  |  | Nine Months Ended September 30,
Lease Type |  | Classification |  | 2021 |  | 2020
Operating Lease Expense |  | Operating expenses |  | $ | 4,429 |  |  | $ | 3,630 |
Financing Lease Amortization |  | Operating expenses |  | 179 |  |  | $ | 165 |
Financing Lease Interest |  | Interest expense |  | 12 |  |  | 22 |
Financing Lease Expense |  |  |  | 191 |  |  | 187 |
Net Lease Cost |  |  |  | $ | 4,620 |  |  | $ | 3,817 |
Net assets and liabilities related to leasing activities as of September 30, 2021 and December 31, 2020 are as follows (Dollars in thousands):
Lease Type |  | September 30, 2021 |  | December 31, 2020
Total Right Of Use ("ROU") operating lease assets (1) |  | $ | 12,292 |  |  | $ | 8,246 |
Total ROU financing lease assets (2) |  | 410 |  |  | 518 |
Total lease assets |  | $ | 12,702 |  |  | $ | 8,764 |
Total current operating lease obligation |  | $ | 4,187 |  |  | $ | 4,360 |
Total current financing lease obligation |  | 161 |  |  | 208 |
Total current lease obligations |  | $ | 4,348 |  |  | $ | 4,568 |
Total long term operating lease obligation |  | $ | 9,587 |  |  | $ | 5,498 |
Total long term financing lease obligation |  | 157 |  |  | 240 |
Total long term lease obligation |  | $ | 9,744 |  |  | $ | 5,738 |
(1) Operating lease assets are recorded net of accumulated amortization of $8.7 million and $5.9 million as of September 30, 2021 and December 31, 2020, respectively (2) Financing lease assets are recorded net of accumulated amortization of $0.6 million and $0.4 million as of September 30, 2021 and December 31, 2020, respectively Liabilities generated by leasing activities as of September 30, 2021 were as follows (Dollars in thousands):
Maturity Date of Lease Liabilities |  | Operating Leases |  | Financing Leases |  | Total
Year one |  | $ | 4,535 |  |  | $ | 166 |  |  | $ | 4,701 |
Year two |  | 3,841 |  |  | 114 |  |  | 3,955 |
Year three |  | 2,865 |  |  | 39 |  |  | 2,904 |
Year four |  | 1,870 |  |  | 14 |  |  | 1,884 |
Year five |  | 345 |  |  | — |  |  | 345 |
Subsequent years |  | 1,265 |  |  | — |  |  | 1,265 |
Total lease payments |  | 14,721 |  |  | 333 |  |  | 15,054 |
Less: Interest |  | 947 |  |  | 15 |  |  | 962 |
Present value of lease liabilities |  | $ | 13,774 |  |  | $ | 318 |  |  | $ | 14,092 |
(1) Minimum lease payments exclude payments to landlord for real estate taxes and common area maintenance $0.6 million The weighted average lease terms and interest rates of the leases held by Lawson as of September 30, 2021 are as follows:
Lease Type |  | Weighted Average Term in Years |  | Weighted Average Interest Rate
Operating Leases |  | 4.0 |  | 3.53%
Financing Leases |  | 2.2 |  | 4.99%
The cash outflows of the leasing activity for the three months ending September 30, 2021 are as follows (Dollars in thousands):
Cash Flow Source |  | Classification |  | Amount
Operating cash flows from operating leases |  | Operating activities |  | $ | 3,549 |
Operating cash flows from financing leases |  | Operating activities |  | 12 |
Financing cash flows from financing leases |  | Financing activities |  | 179 |
In March 2021 the Company signed a three year extension for their lease at the McCook distribution center ("McCook"). The lease extension created a right of use asset of $5.3 million and a lease liability of $5.3 million. Refer to Note 3 - Revenue Recognition for a discussion on Lawson activities as lessor.
Leases | Leases Activities as Lessee The Company leases equipment, distribution centers, office space, and branch locations throughout the US and Canada. Expenses related to leasing activities for the three months ended September 30, 2021 and September 30, 2020 are as follows (Dollars in thousands):
|  |  |  | Three Months Ended September 30,
Lease Type |  | Classification |  | 2021 |  | 2020
Operating Lease Expense |  | Operating expenses |  | $ | 1,500 |  |  | $ | 1,262 |
Financing Lease Amortization |  | Operating expenses |  | 44 |  |  | $ | 63 |
Financing Lease Interest |  | Interest expense |  | 2 |  |  | 8 |
Financing Lease Expense |  |  |  | 46 |  |  | 71 |
Net Lease Cost |  |  |  | $ | 1,546 |  |  | $ | 1,333 |
Expenses related to leasing activities for the nine months ended September 30, 2021 and September 30, 2020 are as follows (Dollars in thousands):
|  |  |  | Nine Months Ended September 30,
Lease Type |  | Classification |  | 2021 |  | 2020
Operating Lease Expense |  | Operating expenses |  | $ | 4,429 |  |  | $ | 3,630 |
Financing Lease Amortization |  | Operating expenses |  | 179 |  |  | $ | 165 |
Financing Lease Interest |  | Interest expense |  | 12 |  |  | 22 |
Financing Lease Expense |  |  |  | 191 |  |  | 187 |
Net Lease Cost |  |  |  | $ | 4,620 |  |  | $ | 3,817 |
Net assets and liabilities related to leasing activities as of September 30, 2021 and December 31, 2020 are as follows (Dollars in thousands):
Lease Type |  | September 30, 2021 |  | December 31, 2020
Total Right Of Use ("ROU") operating lease assets (1) |  | $ | 12,292 |  |  | $ | 8,246 |
Total ROU financing lease assets (2) |  | 410 |  |  | 518 |
Total lease assets |  | $ | 12,702 |  |  | $ | 8,764 |
Total current operating lease obligation |  | $ | 4,187 |  |  | $ | 4,360 |
Total current financing lease obligation |  | 161 |  |  | 208 |
Total current lease obligations |  | $ | 4,348 |  |  | $ | 4,568 |
Total long term operating lease obligation |  | $ | 9,587 |  |  | $ | 5,498 |
Total long term financing lease obligation |  | 157 |  |  | 240 |
Total long term lease obligation |  | $ | 9,744 |  |  | $ | 5,738 |
(1) Operating lease assets are recorded net of accumulated amortization of $8.7 million and $5.9 million as of September 30, 2021 and December 31, 2020, respectively (2) Financing lease assets are recorded net of accumulated amortization of $0.6 million and $0.4 million as of September 30, 2021 and December 31, 2020, respectively Liabilities generated by leasing activities as of September 30, 2021 were as follows (Dollars in thousands):
Maturity Date of Lease Liabilities |  | Operating Leases |  | Financing Leases |  | Total
Year one |  | $ | 4,535 |  |  | $ | 166 |  |  | $ | 4,701 |
Year two |  | 3,841 |  |  | 114 |  |  | 3,955 |
Year three |  | 2,865 |  |  | 39 |  |  | 2,904 |
Year four |  | 1,870 |  |  | 14 |  |  | 1,884 |
Year five |  | 345 |  |  | — |  |  | 345 |
Subsequent years |  | 1,265 |  |  | — |  |  | 1,265 |
Total lease payments |  | 14,721 |  |  | 333 |  |  | 15,054 |
Less: Interest |  | 947 |  |  | 15 |  |  | 962 |
Present value of lease liabilities |  | $ | 13,774 |  |  | $ | 318 |  |  | $ | 14,092 |
(1) Minimum lease payments exclude payments to landlord for real estate taxes and common area maintenance $0.6 million The weighted average lease terms and interest rates of the leases held by Lawson as of September 30, 2021 are as follows:
Lease Type |  | Weighted Average Term in Years |  | Weighted Average Interest Rate
Operating Leases |  | 4.0 |  | 3.53%
Financing Leases |  | 2.2 |  | 4.99%
The cash outflows of the leasing activity for the three months ending September 30, 2021 are as follows (Dollars in thousands):
Cash Flow Source |  | Classification |  | Amount
Operating cash flows from operating leases |  | Operating activities |  | $ | 3,549 |
Operating cash flows from financing leases |  | Operating activities |  | 12 |
Financing cash flows from financing leases |  | Financing activities |  | 179 |
In March 2021 the Company signed a three year extension for their lease at the McCook distribution center ("McCook"). The lease extension created a right of use asset of $5.3 million and a lease liability of $5.3 million. Refer to Note 3 - Revenue Recognition for a discussion on Lawson activities as lessor.
Leases | Leases Activities as Lessee The Company leases equipment, distribution centers, office space, and branch locations throughout the US and Canada. Expenses related to leasing activities for the three months ended September 30, 2021 and September 30, 2020 are as follows (Dollars in thousands):
|  |  |  | Three Months Ended September 30,
Lease Type |  | Classification |  | 2021 |  | 2020
Operating Lease Expense |  | Operating expenses |  | $ | 1,500 |  |  | $ | 1,262 |
Financing Lease Amortization |  | Operating expenses |  | 44 |  |  | $ | 63 |
Financing Lease Interest |  | Interest expense |  | 2 |  |  | 8 |
Financing Lease Expense |  |  |  | 46 |  |  | 71 |
Net Lease Cost |  |  |  | $ | 1,546 |  |  | $ | 1,333 |
Expenses related to leasing activities for the nine months ended September 30, 2021 and September 30, 2020 are as follows (Dollars in thousands):
|  |  |  | Nine Months Ended September 30,
Lease Type |  | Classification |  | 2021 |  | 2020
Operating Lease Expense |  | Operating expenses |  | $ | 4,429 |  |  | $ | 3,630 |
Financing Lease Amortization |  | Operating expenses |  | 179 |  |  | $ | 165 |
Financing Lease Interest |  | Interest expense |  | 12 |  |  | 22 |
Financing Lease Expense |  |  |  | 191 |  |  | 187 |
Net Lease Cost |  |  |  | $ | 4,620 |  |  | $ | 3,817 |
Net assets and liabilities related to leasing activities as of September 30, 2021 and December 31, 2020 are as follows (Dollars in thousands):
Lease Type |  | September 30, 2021 |  | December 31, 2020
Total Right Of Use ("ROU") operating lease assets (1) |  | $ | 12,292 |  |  | $ | 8,246 |
Total ROU financing lease assets (2) |  | 410 |  |  | 518 |
Total lease assets |  | $ | 12,702 |  |  | $ | 8,764 |
Total current operating lease obligation |  | $ | 4,187 |  |  | $ | 4,360 |
Total current financing lease obligation |  | 161 |  |  | 208 |
Total current lease obligations |  | $ | 4,348 |  |  | $ | 4,568 |
Total long term operating lease obligation |  | $ | 9,587 |  |  | $ | 5,498 |
Total long term financing lease obligation |  | 157 |  |  | 240 |
Total long term lease obligation |  | $ | 9,744 |  |  | $ | 5,738 |
(1) Operating lease assets are recorded net of accumulated amortization of $8.7 million and $5.9 million as of September 30, 2021 and December 31, 2020, respectively (2) Financing lease assets are recorded net of accumulated amortization of $0.6 million and $0.4 million as of September 30, 2021 and December 31, 2020, respectively Liabilities generated by leasing activities as of September 30, 2021 were as follows (Dollars in thousands):
Maturity Date of Lease Liabilities |  | Operating Leases |  | Financing Leases |  | Total
Year one |  | $ | 4,535 |  |  | $ | 166 |  |  | $ | 4,701 |
Year two |  | 3,841 |  |  | 114 |  |  | 3,955 |
Year three |  | 2,865 |  |  | 39 |  |  | 2,904 |
Year four |  | 1,870 |  |  | 14 |  |  | 1,884 |
Year five |  | 345 |  |  | — |  |  | 345 |
Subsequent years |  | 1,265 |  |  | — |  |  | 1,265 |
Total lease payments |  | 14,721 |  |  | 333 |  |  | 15,054 |
Less: Interest |  | 947 |  |  | 15 |  |  | 962 |
Present value of lease liabilities |  | $ | 13,774 |  |  | $ | 318 |  |  | $ | 14,092 |
(1) Minimum lease payments exclude payments to landlord for real estate taxes and common area maintenance $0.6 million The weighted average lease terms and interest rates of the leases held by Lawson as of September 30, 2021 are as follows:
Lease Type |  | Weighted Average Term in Years |  | Weighted Average Interest Rate
Operating Leases |  | 4.0 |  | 3.53%
Financing Leases |  | 2.2 |  | 4.99%
The cash outflows of the leasing activity for the three months ending September 30, 2021 are as follows (Dollars in thousands):
Cash Flow Source |  | Classification |  | Amount
Operating cash flows from operating leases |  | Operating activities |  | $ | 3,549 |
Operating cash flows from financing leases |  | Operating activities |  | 12 |
Financing cash flows from financing leases |  | Financing activities |  | 179 |
In March 2021 the Company signed a three year extension for their lease at the McCook distribution center ("McCook"). The lease extension created a right of use asset of $5.3 million and a lease liability of $5.3 million. Refer to Note 3 - Revenue Recognition for a discussion on Lawson activities as lessor.

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