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Leases (Tables) | 3 Months Ended
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Mar. 31, 2022
Leases [Abstract] |
Net Lease Cost | The expenses generated by the leasing activity of Lawson for the three months ended March 31, 2022 and 2021 were as follows:
|  |  |  | (Dollars in thousands)
|  |  |  | Three Months Ended March 31,
Lease Type |  | Classification |  | 2022 |  | 2021
Consolidated Operating Lease Expense (1) |  | Operating expenses |  | $ | 1,556 |  |  | $ | 1,493 |
Consolidated Financing Lease Amortization |  | Operating expenses |  | 33 |  |  | 58 |
Consolidated Financing Lease Interest |  | Interest expense |  | 1 |  |  | 5 |
Consolidated Financing Lease Expense |  |  |  | 34 |  |  | 63 |
Net Lease Cost |  |  |  | $ | 1,590 |  |  | $ | 1,556 |
(1) Includes short term lease expense, which is immaterial The weighted average lease terms and interest rates of the leases held by Lawson as of March 31, 2022 are as follows:
Lease Type |  | Weighted Average Term in Years |  | Weighted Average Interest Rate
Operating Leases |  | 5.8 |  | 4.18%
Financing Leases |  | 1.9 |  | 4.78%
The cash outflows of the leasing activity for the three months ended March 31, 2022 are as follows (Dollars in thousands):
Cash Flow Source |  | Classification |  | Amount
Operating cash flows from operating leases |  | Operating activities |  | $ | 1,169 |
Operating cash flows from financing leases |  | Operating activities |  | 1 |
Financing cash flows from financing leases |  | Financing activities |  | 43 |
Operating Lease Assets and Liabilities | The value of the net assets and liabilities generated by the leasing activity of Lawson as lessee as of March 31, 2022 and December 31, 2021 are as follows:
|  | (Dollars in thousands)
Lease Type |  | March 31, 2022 |  | December 31, 2021
Total Right Of Use (“ROU”) operating lease assets (1) |  | $ | 17,221 |  |  | $ | 13,662 |
Total ROU financing lease assets (2) |  | 350 |  |  | 383 |
Total lease assets |  | $ | 17,571 |  |  | $ | 14,045 |
Total current operating lease obligation |  | $ | 4,712 |  |  | $ | 4,313 |
Total current financing lease obligation |  | 143 |  |  | 154 |
Total current lease obligations |  | $ | 4,855 |  |  | $ | 4,467 |
Total long term operating lease obligation |  | $ | 13,814 |  |  | $ | 10,713 |
Total long term financing lease obligation |  | 94 |  |  | 128 |
Total long term lease obligation |  | $ | 13,908 |  |  | $ | 10,841 |
(1) Operating lease assets are recorded net of accumulated amortization of $9.0 million and $8.0 million as of March 31, 2022 and December 31, 2021, respectively (2) Financing lease assets are recorded net of accumulated amortization of $0.6 million and $0.6 million as of March 31, 2022 and December 31, 2021, respectively
Value of Operating Lease Liabilities Generated by Leasing Activities | The value of the lease liabilities generated by the leasing activities of Lawson as lessee as of March 31, 2022 were as follows (Dollars in thousands):
Maturity Date of Lease Liabilities |  | Operating Leases |  | Financing Leases |  | Total
Year one |  | $ | 5,273 |  |  | $ | 146 |  |  | $ | 5,419 |
Year two |  | 4,152 |  |  | 78 |  |  | 4,230 |
Year three |  | 3,392 |  |  | 18 |  |  | 3,410 |
Year four |  | 1,790 |  |  | 3 |  |  | 1,793 |
Year five |  | 1,276 |  |  | 2 |  |  | 1,278 |
Subsequent years |  | 4,708 |  |  | — |  |  | 4,708 |
Total lease payments (1) |  | 20,591 |  |  | 247 |  |  | 20,838 |
Less: Interest |  | 2,065 |  |  | 10 |  |  | 2,075 |
Present value of lease liabilities |  | $ | 18,526 |  |  | $ | 237 |  |  | $ | 18,763 |
(1) Minimum lease payments exclude payments to landlord for real estate taxes and common area maintenance $0.4 million
Value of Finance Lease Liabilities Generated by Leasing Activities | The value of the lease liabilities generated by the leasing activities of Lawson as lessee as of March 31, 2022 were as follows (Dollars in thousands):
Maturity Date of Lease Liabilities |  | Operating Leases |  | Financing Leases |  | Total
Year one |  | $ | 5,273 |  |  | $ | 146 |  |  | $ | 5,419 |
Year two |  | 4,152 |  |  | 78 |  |  | 4,230 |
Year three |  | 3,392 |  |  | 18 |  |  | 3,410 |
Year four |  | 1,790 |  |  | 3 |  |  | 1,793 |
Year five |  | 1,276 |  |  | 2 |  |  | 1,278 |
Subsequent years |  | 4,708 |  |  | — |  |  | 4,708 |
Total lease payments (1) |  | 20,591 |  |  | 247 |  |  | 20,838 |
Less: Interest |  | 2,065 |  |  | 10 |  |  | 2,075 |
Present value of lease liabilities |  | $ | 18,526 |  |  | $ | 237 |  |  | $ | 18,763 |
(1) Minimum lease payments exclude payments to landlord for real estate taxes and common area maintenance $0.4 million

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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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