Leases (Tables)

9 Months Ended

Sep. 30, 2020

Quantitative Disclosures Related to Operating Leases

The following tables provide quantitative disclosures related to our operating leases (in thousands):

Balance Sheet Information	September 30, 2020			December 31, 2019
Assets
Operating lease right-of-use assets	$	30,910		$	36,020

Liabilities
Sundry payables and accrued expenses	$	8,648		$	8,739
Noncurrent operating lease liabilities		23,452			28,376
Total operating lease liabilities	$	32,100		$	37,115

Weighted Average Remaining Lease Term
Operating leases	5.1 Years			5.6 Years

Weighted Average Discount Rate
Operating leases		3.7	%		3.7	%

	Three Months Ended September 30,
Expense and Cash Flow Information	2020		2019
Lease Expense
Operating lease expense (a)	$	2,290	$	2,199

	Nine Months Ended September 30,
	2020		2019
Lease Expense
Operating lease expense (a)	$	6,906	$	6,633

Supplemental Cash Flow Information
Cash paid for the amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6,810	$	6,490
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	611	$	856

(a)

Excludes expenses of approximately $0.7 million and $1.6 million for the three and nine months ended September 30, 2020, respectively, and approximately $0.8 million and $1.9 million for the comparable periods in 2019, respectively, related to non-lease components such as maintenance, property taxes, etc., and operating lease expense for leases with an initial term of 12 months or less, which is not material.

Minimum Lease Payments

At September 30, 2020, we are obligated to make minimum lease payments through 2028, under operating leases, which are as follows (in thousands):

2020	$	2,235
2021		8,631
2022		7,071
2023		5,715
2024		3,881
Thereafter		7,844
Total lease payments	$	35,377
Less: Interest		(3,277	)
Present value of lease liabilities	$	32,100