Leases

9 Months Ended

Sep. 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 September 30, 2020.

The operating lease expense for the three-months ended September 30, 2020 and 2019 was $1,396 and $1,387, respectively, and $4,188 and $4,145 for the nine-months ended September 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:

For the Three-

months

ended

September 30,

2020

For the Three-

months

ended

September 30,

2019

For the Nine-

months

ended

September 30,

2020

For the Nine-

months

ended

September 30,

2019

Cash paid for amounts included in the

measurement of lease liabilities

1,399

1,343

4,177

4,029

ROU assets obtained in exchange for new

liabilities

3,393

1,066

4,895

3,119

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

Weighted-average remaining lease term (in years)			4.62
Weighted-average discount rate			3.81	%

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

2020 (excluding nine-months ended September 30, 2020)	$	1,364
2021		4,003
2022		2,464
2023		1,677
2024		1,065
Thereafter		2,925
Total lease payments		13,498
Less: imputed interest		1,207
Total	$	12,291
Amounts recognized in the Condensed Consolidated Balance Sheets:
Operating lease liabilities, current	$	4,312
Operating lease liabilities, long-term	$	7,979