Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
The Company’s lease portfolio includes a factory building, office space, warehouses, material handling equipment, vehicles and office equipment. Included in the Wholesome purchase price allocation are right-of-use assets and operating lease liabilities of $7.6 million related to two leases acquired. All leases are classified as operating leases.
The right-of-use asset is subsequently measured throughout the lease term at the carrying amount of the lease liability. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Lease expense for the three months ended March 31, 2021was $1.1 million. Lease expense under prior lease accounting rules for the three months ended March 31, 2020 was $1.1 million. The Company subleases certain of its unused office space to third parties. These subleases generated sublease income of $0.2 million and $0.1 million for the three months ended March 31, 2021 and 2020, respectively.
The following table presents the future maturities of the Company’s lease obligations as of March 31, 2021 (in thousands):
Remainder of 2021 $ 4,356 
2022 5,441 
2023 5,389 
2024 3,712 
2025 2,593 
Thereafter 1,524 
Total lease payments 23,015 
Less: imputed interest 1,660 
Total operating lease liabilities $ 21,355 
The weighted-average remaining lease term is 4.4 years and the weighted-average discount rate is 3.57%.
Cash paid for amounts included in the measurement of the lease liability and for supplemental non-cash information for the three months ended March 31, 2021 was $1.2 million.