Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.21.2
LEASES (Tables)
 9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Lease Cost
The components of lease expense were as follows:
($ in thousands) Classification in the Condensed Consolidated Statements of Income Three Months Ended September 30, Nine Months Ended
September 30,
2021 2020 2021 2020
Operating lease cost (a) Cost of sales, exclusive of depreciation and amortization $ 1,124  $ 1,115  $ 3,132  $ 3,036 
Operating lease cost (a) Selling, general and administrative 33  34  102  102 
Total lease cost   $ 1,157  $ 1,149  $ 3,234  $ 3,138 
(a) Short-term lease costs were approximately $0.2 million and $0.2 million for the three months and $0.5 million and $0.3 million for the nine months ended September 30, 2021 and 2020, respectively.
Three Months Ended
September 30,		 Nine Months Ended
September 30,
($ in thousands) 2021 2020 2021 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases $ 924  $ 925  $ 2,727  $ 2,806 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $ 610  $ 37  $ 630  $ 37 
  September 30, 2021 September 30, 2020
Weighted-average remaining lease term (in years):  
Operating leases 3.2 3.9
Weighted-average discount rate:
Operating leases 4.5  % 4.5  %
Schedule of Lease Assets and Liabilities
($ in thousands) Classification on the Condensed Consolidated Balance Sheets September 30, 2021 December 31, 2020
Assets:  
Operating Operating lease assets $ 8,746  $ 10,528 
Total lease right-of-use assets, net   $ 8,746  $ 10,528 
Liabilities:  
Current:  
Operating Current portion of operating lease liabilities $ 3,302  $ 3,195 
Noncurrent:  
Operating Operating lease liabilities 5,444  7,333 
Total lease liabilities   $ 8,746  $ 10,528 
Operating Lease Maturities
As of September 30, 2021, maturities of lease liabilities were as follows:
($ in thousands) Operating Leases
2021 $ 934 
2022 3,439 
2023 2,547 
2024 1,233 
2025 1,094 
Thereafter 118 
Total lease payments $ 9,365 
Less: Interest 619 
Total lease obligations $ 8,746