Matthews International Corporation Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

3 Months Ended

Dec. 31, 2019

The following table presents the balance sheet and lease classification for the Company's lease portfolio:



Balance Sheet Classification	Lease Classification	December 31, 2019
Non-current assets:
Property, plant and equipment, net	Finance	$	1,330
Other assets	Operating	76,682
Total lease assets		$	78,012

Current liabilities:
Long-term debt, current maturities	Finance	$	532
Other current liabilities	Operating	26,456
Non-current liabilities:
Long-term debt	Finance	2,963
Other liabilities	Operating	51,007
Total lease liabilities		$	80,958

The following table presents the components of lease cost:

Supplemental information regarding the Company's leases follows:



	December 31, 2019
Operating cash flows from operating leases*	$	8,105
ROU assets obtained in exchange for new operating lease liabilities	$	2,071
Weighted-average remaining lease term - finance leases (years)	7.64
Weighted-average remaining lease term - operating leases (years)	3.54
Weighted-discount rate - finance leases	3.41		%
Weighted-discount rate - operating leases	3.06		%

* Lease cost and cash flows for finance leases were insignificant for the three months ended December 31, 2019.

Maturities of lease obligations were as follows as of December 31, 2019:



	Operating Leases		Finance Leases
2020	$	22,089	$	517
2021	22,814		501
2022	14,930		383
2023	9,023		383
2024	5,870		374
Thereafter	7,387		2,095
Total future minimum lease payments	82,113		4,253
Less: Interest	4,650		758
Present value of lease liabilities:	$	77,463	$	3,495

Maturities of lease obligations were as follows as of December 31, 2019:



	Operating Leases		Finance Leases
2020	$	22,089	$	517
2021	22,814		501
2022	14,930		383
2023	9,023		383
2024	5,870		374
Thereafter	7,387		2,095
Total future minimum lease payments	82,113		4,253
Less: Interest	4,650		758
Present value of lease liabilities:	$	77,463	$	3,495