4. Leases

At the inception of an arrangement, the Company determines if an arrangement is, or contains, a lease based on facts and circumstances present in that arrangement. Lease classifications, recognition, and measurement are then determined at the lease commencement date.

The Company’s operating lease right-of-use (“ROU”) assets and operating lease liabilities represent primarily leases for office and warehouse spaces used to conduct our business. Finance leases consist primarily of processing and transport equipment used by our facilities’ operations and also include a building with land for our waste treatment operations.

The components of lease cost for the Company’s leases for the three and six months ended June 30, 2021 and 2020 were as follows (in thousands):

 Schedule of Components of Lease Cost

The weighted average remaining lease term and the weighted average discount rate for operating and finance leases at June 30, 2021 were:

 Schedule of Weighted Average Lease

The following table reconciles the undiscounted cash flows for the operating and finance leases at June 30, 2021 to the operating and finance lease liabilities recorded on the balance sheet (in thousands):

 Schedule of Operating and Finance Lease Liability Maturity

Supplemental cash flow and other information related to our leases were as follows for the three and six months ended June 30, 2021 and 2020 (in thousands):

 Schedule of Supplemental Cash Flow and Other Information Related to Leases