Leases (Tables)

9 Months Ended

Sep. 30, 2021

Quantitative Disclosures Related to Operating Leases

The following tables provides quantitative disclosures related to our operating leases and includes all operating leases acquired in the Stabil and Trombetta acquisition from the date of acquisition (in thousands):

Balance Sheet Information	September 30, 2021			December 31, 2020
Assets
Operating lease right-of-use assets	$	42,458		$	29,958

Liabilities
Sundry payables and accrued expenses	$	10,476		$	8,719
Noncurrent operating lease liabilities		33,246			22,450
Total operating lease liabilities	$	43,722		$	31,169

Weighted Average Remaining Lease Term
Operating leases	5.4 Years			5 Years

Weighted Average Discount Rate
Operating leases		3.0	%		3.6	%

	Three Months Ended September 30,
Expense and Cash Flow Information	2021		2020
Lease Expense
Operating lease expense (a)	$	2,547	$	2,290

	Nine Months Ended September 30,
	2021		2020
Lease Expense
Operating lease expense (a)	$	7,324	$	6,906

Supplemental Cash Flow Information
Cash paid for the amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7,271	$	6,810
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	19,215	$	611

(a)

Excludes expenses of approximately $0.3 million and $1.2 million for the three and nine months ended September 30, 2021, respectively, and approximately $0.7 million and $1.6 million for the comparable periods in 2020, 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, 2021, we are obligated to make minimum lease payments through 2031, under operating leases, which are as follows (in thousands):

2021	$	2,723
2022		10,422
2023		9,441
2024		7,128
2025		5,802
Thereafter		11,664
Total lease payments	$	47,180
Less: Interest		(3,458	)
Present value of lease liabilities	$	43,722