LEASES

3 Months Ended

Mar. 31, 2020

Expense


	Three Months Ended March 31,
(in thousands)	2020		2019
Fixed lease costs	$	4,818	$	4,300
Short-term lease costs	455		285
Variable lease costs	1,278		1,321
	$	6,551	$	5,906

Right of use assets and lease liabilities


(in thousands)	March 31, 2020		December 31, 2019
Right of use assets ⁽¹⁾	$	54,624	$	58,273
Lease liabilities ⁽²⁾	$	15,385	$	15,885
Long-term lease liabilities	$	47,919	$	52,610

(1) Represents the Company’s right to use the leased asset during the lease term. Included in other long-term assets. (2) Included in other current liabilities.

The weighted-average remaining lease term and discount rate for the Company’s leases were:


	March 31, 2020	December 31, 2019
Weighted-average remaining lease term	3.8 years	4 years
Weighted-average discount rate ⁽¹⁾	5.8 %	5.8	%

(1) The rates implicit in most of the Company’s leases are not readily determinable. Therefore, the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur to borrow an amount equal to the lease payments on a collateralized basis over the term of the lease.

Maturities of lease liabilities are:


(in thousands)	March 31, 2020		December 31, 2019
2020	$	13,838	$	19,373
2021	18,640		18,702
2022	17,383		17,671
2023	16,350		16,615
2024 and thereafter	4,619		4,734
Total lease payments	70,830		77,095
Less: imputed interest ⁽¹⁾	(7,526)		(8,600)
Total short and long-term lease liabilities	$	63,304	$	68,495

(1) Lease liabilities are measured at the present value of the remaining lease payments using a discount rate determined at lease commencement unless the discount rate is updated as a result of a lease reassessment event.

Cash flow information


	Three Months Ended March 31,
(in thousands)	2020		2019
Cash paid for leases	$	5,520	$	5,197
Right of use assets recognized for new leases and amendments (non-cash)	$	551	$	8,034