Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.20.2
LEASES (Tables)
6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Lease Information
The components of lease expense were as follows:
($ in thousands)
Classification in the Condensed Consolidated Statements of Income
Three Months Ended
June 30,
 
Six Months Ended
June 30,
2020
 
2019
 
2020
 
2019
Operating lease cost (a)
Cost of sales, exclusive of depreciation and amortization
$
987

 
$
1,152

 
$
1,922

 
$
2,291

Operating lease cost (a)
Selling, general and administrative
34

 
38

 
68

 
72

Total lease cost
 
$
1,021

 
$
1,190

 
$
1,990

 
$
2,363

 
 
 
 
 
 
 
 
 
(a) Short-term lease costs were approximately $0.1 million and $0.1 million for the three months ended June 30, 2020 and 2019, respectively. Short-term lease costs were approximately $0.1 million and $0.1 million for the six months ended June 30, 2020 and 2019, respectively.

Lease Information
($ in thousands)
Classification on the Condensed Consolidated Balance Sheets
June 30, 2020
 
December 31, 2019
Assets:
 
 
 
 
Operating
Operating lease assets
$
11,915

 
$
13,512

Total leased assets
 
$
11,915

 
$
13,512

 
 
 
 
 
Liabilities:
 
 
 
 
Current:
 
 
 
 
Operating
Current portion of operating lease liabilities
$
3,142

 
$
3,174

Noncurrent:
 
 
 
 
Operating
Operating lease liabilities
8,773

 
10,338

Total lease liabilities
 
$
11,915

 
$
13,512

Lease Information
 
June 30, 2020
Weighted-average remaining lease term (in years):
 
Operating leases
4.1

Weighted-average discount rate:
 
Operating leases
4.5
%

Lease Information
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
($ in thousands)
2020
 
2019
 
2020
 
2019
Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
 
 
 
 
Operating cash flows used for operating leases
$
933

 
$
1,122

 
$
1,881

 
$
3,385

Right-of-use assets obtained in exchange for lease obligations:
 
 
 
 
 
 
 
Operating leases
$

 
$

 
$

 
$
138


Operating Lease Maturities
As of June 30, 2020, maturities of lease liabilities were as follows:
($ in thousands)
Operating Leases
2020
$
1,824

2021
3,540

2022
3,218

2023
2,329

2024
1,026

Thereafter
1,082

Total lease payments
$
13,019

Less: Interest
1,104

Total lease obligations
$
11,915