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Commitments And Contingencies | 9 Months Ended
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Sep. 30, 2020
Commitments And Contingencies [Abstract] |
Commitments And Contingencies | 14. COMMITMENTS AND CONTINGENCIES Lease Expense The company leases certain facilities, parcels of land, and equipment, with remaining terms ranging from less than one year to 17.1 years. The land and facility leases include renewal options. The renewal options are included in the lease term only for those sites or locations in which they are reasonably certain to be renewed. Equipment renewals are not considered reasonably certain to be exercised as they typically renew with significantly different underlying terms. The components of lease expense are as follows (in thousands):
|  | Three Months Ended ‎September 30, |  | Nine Months Ended ‎September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Lease expense |  |  |  |  |  |  |  |  |  |  |  |
Operating lease expense |  | $ | 5,232 |  | $ | 4,944 |  | $ | 15,432 |  | $ | 15,899
Variable lease expense (1) |  |  | 530 |  |  | 250 |  |  | 1,429 |  |  | 643
Total lease expense |  | $ | 5,762 |  | $ | 5,194 |  | $ | 16,861 |  | $ | 16,542
(1)Represents amounts incurred in excess of the minimum payments required for a certain building lease and for the handling and unloading of railcars for a certain land lease, offset by railcar lease abatements provided by the lessor when railcars are out of service during periods of maintenance or upgrade. Supplemental cash flow information related to operating leases is as follows (in thousands):
|  | Three Months Ended ‎September 30, |  | Nine Months Ended ‎September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 5,136 |  | $ | 4,977 |  | $ | 15,004 |  | $ | 15,913
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |  |  |  |  |  |  |  |
Operating leases |  |  | 11,053 |  |  | 4,427 |  |  | 17,932 |  |  | 10,634
Right-of-use assets and lease obligations derecognized due to lease modifications: |  |  |  |  |  |  |  |  |  |  |  |
Operating leases |  |  | 12 |  |  | 1,405 |  |  | 12 |  |  | 1,405
Supplemental balance sheet information related to operating leases is as follows:
|  | September 30, 2020 |  | December 31, 2019
Weighted average remaining lease term |  |  | 6.4 years |  |  | 6.6 years
Weighted average discount rate |  |  | 5.01% |  |  | 5.46%
‎ Aggregate minimum lease payments under the operating lease agreements for the remainder of 2020 and in future years are as follows (in thousands):
Year Ending December 31, |  | Amount
2020 |  | $ | 5,565
2021 |  |  | 15,451
2022 |  |  | 13,392
2023 |  |  | 9,812
2024 |  |  | 7,997
Thereafter |  |  | 19,642
Total |  |  | 71,859
Less: Present value discount |  |  | (11,836)
Lease liabilities |  | $ | 60,023
The partnership has additional railcar operating leases that will commence in the fourth quarter of 2020 and the first half of 2021 to replace expiring leases, with estimated future minimum lease commitments of approximately $24.5 million and lease terms of five to six years. Additionally, the company has an operating lease for a building commencing during the fourth quarter of 2020 with estimated future minimum lease commitments of approximately $1.2 million and a lease term of five years. The undiscounted amounts are not included in the tables above. Lease Revenue As described in Note 2 – Revenue, the majority of the partnership’s segment revenue is generated though their storage and throughput services and rail transportation services agreements with Green Plains Trade and are accounted for as lease revenue. Leasing revenues do not represent revenues recognized from contracts with customers under ASC 606, and are accounted for under ASC 842, Leases. Lease revenue associated with agreements with Green Plains Trade are eliminated upon consolidation. The remaining lease revenue is not material to the company. Refer to Note 2 – Revenue for further discussion on lease revenue. Commodities As of September 30, 2020, the company had contracted future purchases of grain, corn oil, natural gas, ethanol and distillers grains, valued at approximately $187.9 million. Legal The company is currently involved in litigation that has arisen during the ordinary course of business, but does not believe any pending litigation will have a material adverse effect on its financial position, results of operations or cash flows.

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- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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