Leases

3 Months Ended

Mar. 31, 2020

2. Leases— The Company has operating leases for warehouses, manufacturing facilities, offices, cars, railcars and certain equipment. The lease term includes the non-cancellable period of the lease plus any additional periods covered by either an option to extend (or not terminate) that the Company is reasonably certain to exercise. The Company has leases with a lease term ranging from 1 year to 20 years.

Finance leases are immaterial to the condensed consolidated financial statements. There were no lease transactions with related parties as of March 31, 2020.

The operating lease expense for the three months ended March 31, 2020 and 2019 was $1,395 and $1,227, respectively. Lease expenses related to variable lease payments and short-term leases were immaterial. Other information related to operating leases follows:

	Three months ended March 31, 2020			Three months ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities	$	1,396		$	1,206
ROU assets obtained in exchange for new liabilities	$	825		$	371

Weighted-average remaining lease term (in years)		3.15			3.25
Weighted-average discount rate		3.67	%		3.69	%

Future minimum lease payments under non-cancellable operating leases as of March 31, 2020 were as follows:

	March 31, 2020
2020 (excluding three months ended March 31, 2020)	$	3,959
2021		3,552
2022		1,952
2023		871
2024		389
Thereafter		870
Total lease payments	$	11,593
Less: imputed interest		714
Total	$	10,879

Amounts recognized in the condensed consolidated balance sheet:
Operating lease liabilities, current	$	4,883
Operating lease liabilities, long term	$	5,996