Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.21.1
LEASES (Tables)
 3 Months Ended
Mar. 31, 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 March 31,
2021 2020
Operating lease cost (a) Cost of sales, exclusive of depreciation and amortization $ 1,049  $ 920 
Operating lease cost (a) Selling, general and administrative 34  48 
Total lease cost   $ 1,083  $ 968 
(a) Short-term lease costs were approximately $0.2 million and $0.1 million for the three months ended March 31, 2021 and 2020, respectively.
Three Months Ended
March 31,
($ in thousands) 2021 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases $ 903  $ 947 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $ 19  $ — 
  March 31, 2021 March 31, 2020
Weighted-average remaining lease term (in years):  
Operating leases 3.5 4.3
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 March 31, 2021 December 31, 2020
Assets:  
Operating Operating lease assets $ 9,757  $ 10,528 
Total lease right-of-use assets, net   $ 9,757  $ 10,528 
Liabilities:  
Current:  
Operating Current portion of operating lease liabilities $ 3,219  $ 3,195 
Noncurrent:  
Operating Operating lease liabilities 6,538  7,333 
Total lease liabilities   $ 9,757  $ 10,528 
Operating Lease Maturities
As of March 31, 2021, maturities of lease liabilities were as follows:
($ in thousands) Operating Leases
2021 $ 2,691 
2022 3,273 
2023 2,380 
2024 1,066 
2025 995 
Thereafter 118 
Total lease payments $ 10,523 
Less: Interest 766 
Total lease obligations $ 9,757