Leases

6 Months Ended

Jun. 30, 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 June 30, 2020.

The operating lease expense for the three months ended June 30, 2020 and 2019 was $1,396 and $1,400, respectively, and $2,791 and $2,758 for the six months ended June 30, 2020 and 2019, respectively. Lease expenses related to variable lease payments and short-term leases were immaterial. Additional information related to operating leases are as follows:

Three months

ended

June 30, 2020

Three months

ended

June 30, 2019

Six months

ended

June 30, 2020

Six months

ended

June 30, 2019

Cash paid for amounts included in the

measurement of lease liabilities

1,382

1,348

2,778

2,685

ROU assets obtained in exchange for new

liabilities

677

1,682

1,502

2,052

The weighted-average remaining lease term and discount rate related to the operating leases as of June 30, 2020 were as follows:

Weighted-average remaining lease term (in years)			3.12
Weighted-average discount rate			3.69	%

Future minimum lease payments under non-cancellable operating leases as of June 30, 2020, were as follows:

2020 (excluding six months ended June 30, 2020)	$	2,659
2021		3,709
2022		2,129
2023		1,005
2024		460
Thereafter		894
Total lease payments		10,856
Less: imputed interest		666
Total	$	10,190
Amounts recognized in the Condensed Consolidated Balance Sheets:
Operating lease liabilities, current	$	4,771
Operating lease liabilities, long-term	$	5,419