|3 Months Ended|
Mar. 31, 2021
We have operating leases for our installation branch locations, distribution centers, our Branch Support Center in Daytona Beach, Florida, vehicles and certain equipment. In addition, we lease certain operating facilities from related parties, primarily former owners (and in certain cases, current management personnel) of companies acquired. These related party leases are immaterial to our consolidated statements of operations. As of March 31, 2021, we did not have any finance leases.
The components of lease expense were as follows and are primarily included in cost of sales on the accompanying unaudited condensed consolidated statements of operations, in thousands:
Future minimum lease payments under non-cancellable operating leases as of March 31, 2021 were as follows, in thousands:
As of March 31, 2021, the weighted average remaining lease term was 3.6 years and the related lease liability was calculated using a weighted average discount rate of 3.6%.
The amount below is included in the cash flows provided by (used in) operating activities section on the accompanying unaudited condensed consolidated statements of cash flows, in thousands:
The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef