Leases

9 Months Ended

Sep. 30, 2022

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 accompanying condensed consolidated financial statements. There were no lease transactions with related parties as of and for the three- and nine-month periods presented in the table below.

The operating lease expense for the three-month periods ended September 30, 2022, and 2021, was $1,653 and $1,568, respectively, and $4,876 and $4,464 for the nine-month periods ended September 30, 2022 and 2021, 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 September 30, 2022		Three months ended September 30, 2021		Nine months ended September 30, 2022		Nine months ended September 30, 2021
Cash paid for amounts included in the measurement of lease liabilities	$	1,613	$	1,260	$	4,846	$	4,271
ROU assets obtained in exchange for new liabilities	$	2,378	$	5,805	$	4,202	$	17,872

The weighted-average remaining lease term and discount rate related to the operating leases as of September 30, 2022 were as follows:


Weighted-average remaining lease term (in years)	6.08
Weighted-average discount rate	4.00	%

Future minimum lease payments under non-cancellable operating leases as of September 30, 2022 were as follows:


2022 (excluding nine-months ended September 30, 2022)	$	1,603
2023		5,977
2024		5,132
2025		4,610
2026		3,439
Thereafter		8,580
Total lease payments		29,341
Less: imputed interest		(3,476	)
Total	$	25,865
Amounts recognized in the condensed consolidated balance sheets:
Operating lease liabilities, current	$	5,329
Operating lease liabilities, long-term	$	20,536