Leases

The Company primarily leases office space and certain office equipment using noncancelable operating leases. Operating lease right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As the implicit rate is not readily determinable in most of the Company's lease agreements, the Company uses its estimated secured incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Lease expense is recognized on a straight-line basis over the lease terms. Certain of our lease agreements include variable lease payments, primarily related to common area maintenance, insurance and taxes. The variable portion of payments is not included in the initial measurement of the right-of-use asset or lease liability due to the uncertainty of the payment amount and are recorded as lease expense in the period incurred.

The Company's leases have original lease periods expiring between 2019 and 2027, which may include the option to extend the lease when it is reasonably certain the Company will exercise that option. The Company does not have lease agreements with residual value guarantees, sale leaseback terms or material restrictive covenants.

The components of lease expense, lease term and discount rate are as follows (in thousands):



	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Operating lease cost	$	1,182		$	2,448
Short-term lease cost	21			42
Variable lease cost	411			454
Sublease income	(18		)	(35		)
Total lease cost	$	1,596		$	2,909

As of June 30, 2019, the weighted average remaining lease term and weighted average discount rate for the Company's operating leases were as follows:



	Operating Leases
Weighted Average Remaining Lease Term	3.2 years
Weighted Average Discount Rate	4.1	%

The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2019 (in thousands):



	Operating Leases
The remainder of 2019	$	2,370
2020	4,104
2021	3,338
2022	1,346
2023	661
Thereafter	583
Total undiscounted cash flows	12,402
Less imputed interest	(594		)
Present value of lease liabilities	$	11,808

Future minimum lease payments under noncancelable operating leases including the amended lease for our principal executive offices, are as of December 31, 2018 (in thousands):



Year Ending December 31,	Gross		Sublease Income			Amount
2019	$	4,974	$	(72	)	$	4,902
2020	3,882		(74		)	3,808
2021	3,248		(77		)	3,171
2022	1,168		—			1,168
2023	488		—			488
Total payments	$	13,760	$	(223	)	$	13,537

Rent expense for the three and six months ended June 30, 2018 was $1.2 million and $2.5 million, respectively.

Supplemental cash flow information related to the Company's operating leases are as follows (in thousands):



	Six Months Ended June 30, 2019
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$	14,479
Operating cash flows:
Cash paid for amounts included in the measurement of lease liabilities	$	2,442