LEASES (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| Leases [Abstract] |
|
| Schedule of Lease Cost |
The components of lease expense were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
| ($ in thousands) |
Classification in the Consolidated Statements of Operations |
2021 |
2020 |
2019 |
| Operating lease cost (a) |
Cost of sales, exclusive of depreciation and amortization |
$ |
4,366 |
|
$ |
4,088 |
|
$ |
4,361 |
|
| Operating lease cost (a) |
Selling, general and administrative |
135 |
|
137 |
|
137 |
|
| Total operating lease cost |
|
$ |
4,501 |
|
$ |
4,225 |
|
$ |
4,498 |
|
|
|
|
|
|
| Finance lease cost: |
|
|
|
|
| Amortization of right-of-use assets |
Depreciation |
— |
|
— |
|
— |
|
| Interest on lease liabilities |
Interest Expense |
— |
|
— |
|
— |
|
| Total finance lease cost |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
| Total lease cost |
|
$ |
4,501 |
|
$ |
4,225 |
|
$ |
4,498 |
|
|
|
|
|
|
(a) Short-term lease costs were approximately $0.8 million, $0.5 million and nil as of December 31, 2021, 2020 and 2019, respectively. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
| ($ in thousands) |
2021 |
|
2020 |
|
2019 |
| Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
| Operating cash flows used for operating leases |
$ |
3,678 |
|
|
$ |
3,713 |
|
|
$ |
4,389 |
|
| Operating cash flows used for finance leases |
— |
|
|
— |
|
|
— |
|
| Financing cash flows used for finance leases |
— |
|
|
— |
|
|
— |
|
| Right-of-use assets obtained in exchange for lease obligations: |
|
|
|
|
|
| Operating leases |
$ |
915 |
|
|
$ |
206 |
|
|
$ |
81 |
|
| Finance leases |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
December 31, |
| |
2021 |
2020 |
| Weighted-average remaining lease term (in years): |
|
|
| Operating leases |
3.0 |
3.7 |
| Finance leases |
0.0 |
0.0 |
| Weighted-average discount rate: |
|
|
| Operating leases |
4.5 |
% |
4.5 |
% |
| Finance leases |
— |
% |
— |
% |
|
| Schedule of Lease Assets and Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
| ($ in thousands) |
Classification on the Consolidated Balance Sheets |
2021 |
|
2020 |
| Assets: |
|
|
|
|
| Operating |
Operating lease assets |
$ |
8,170 |
|
|
$ |
10,528 |
|
| Finance |
Property, plant, and equipment |
— |
|
|
— |
|
| Total leased assets |
|
$ |
8,170 |
|
|
$ |
10,528 |
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
| Current |
|
|
|
|
| Operating |
Current portion of operating lease liabilities |
$ |
3,227 |
|
|
$ |
3,195 |
|
| Finance |
Short-term debt and current portion of long-term debt |
— |
|
|
— |
|
| Noncurrent |
|
|
|
|
| Operating |
Operating lease liabilities |
4,923 |
|
|
7,333 |
|
| Finance |
Long-term debt |
— |
|
|
— |
|
| Total lease liabilities |
|
$ |
8,150 |
|
|
$ |
10,528 |
|
|
| Schedule of Operating Lease Maturities |
As of December 31, 2021, maturities of lease liabilities were as follows:
|
|
|
|
|
|
|
|
|
| ($ in thousands) |
Operating Leases |
Finance Leases |
| 2022 |
$ |
3,511 |
|
$ |
— |
|
| 2023 |
2,619 |
|
— |
|
| 2024 |
1,298 |
|
— |
|
| 2025 |
1,123 |
|
— |
|
| 2026 |
149 |
|
— |
|
|
|
|
| Total lease payments |
$ |
8,700 |
|
$ |
— |
|
| Less: Interest |
550 |
|
— |
|
| Total lease obligations |
$ |
8,150 |
|
$ |
— |
|
|
| Schedule of Finance Lease Maturities |
As of December 31, 2021, maturities of lease liabilities were as follows:
|
|
|
|
|
|
|
|
|
| ($ in thousands) |
Operating Leases |
Finance Leases |
| 2022 |
$ |
3,511 |
|
$ |
— |
|
| 2023 |
2,619 |
|
— |
|
| 2024 |
1,298 |
|
— |
|
| 2025 |
1,123 |
|
— |
|
| 2026 |
149 |
|
— |
|
|
|
|
| Total lease payments |
$ |
8,700 |
|
$ |
— |
|
| Less: Interest |
550 |
|
— |
|
| Total lease obligations |
$ |
8,150 |
|
$ |
— |
|
|