11.Leases

The Company has operating and finance leases for corporate office space and equipment. Our leases have remaining lease terms of less than one year to seven years, some of which include options to extend leases for up to 20 years, and some of which include options to terminate the leases within one year. Certain leases include variable lease payments in future periods based on a market index or rate. We determine if an arrangement is a lease at inception (or the effective date of the ASU). Operating lease assets and liabilities are included in other non-current assets, other current liabilities, and other non-current liabilities in our consolidated balance sheet at March 31, 2019. Finance leases are included in property and equipment, net, other current liabilities, and other non-current liabilities in our consolidated balance sheets.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date (or the effective date of the ASU) based on the present value of lease payments over the lease term. The Company uses an incremental borrowing rate based on the information available at commencement date (or the effective date of the ASU) in determining the present value of lease payments. The operating lease ROU assets also include any lease payments made and exclude lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term.

We have lease agreements with lease and non-lease components, which are generally accounted for separately.

The components of lease expense were as follows:


	For the three
	months ended
	March 31, 2019
	(in thousands)
Operating Lease Cost	$	5,318

Finance Lease Cost:
Amortization of ROU assets	$	83
Interest on lease liabilities		8
Total	$	91

Supplemental cash flow information related to leases was as follows:


	For the three
	months ended
	March 31, 2019
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,238
Operating cash flows from finance leases		8
Financing cash flows from finance leases		80

ROU assets obtained in exchange for lease obligations:
Operating leases		—
Finance leases		40

Supplemental balance sheet information related to leases was as follows:


	March 31, 2019
	(in thousands,
	except lease term
	and discount rate)
Operating Leases:
Operating lease ROU assets (Other non-current assets)	$	31,876

Other current liabilities	$	13,797
Other non-current liabilities		18,826
Total operating lease liabilities	$	32,623


Finance Leases:
Property and equipment, gross	$	1,255
Accumulated depreciation		(782)
Property and equipment, net	$	473

Other current liabilities	$	290
Other non-current liabilities		198
Total finance lease liabilities	$	488


Weighted average remaining lease term:
Operating leases		4 years
Finance leases		2 years

Weighted average discount rate:
Operating leases		4.33%
Finance leases		6.00%

Rent expense was $6.0 million for the three months ended March 31, 2018.

As of December 31, 2018, we had property and equipment under capital leases with a cost of $1.6 million and accumulated depreciation of $1.1 million.

Maturities of lease liabilities are as follows:


	Operating		Finance
	Leases		Leases
	(in thousands)
Year ended December 31,
2019 (excluding the three months ended March 31, 2019)	$	11,806	233
2020		9,523	224
2021		4,882	46
2022		2,178	6
2023		2,090	—
Thereafter		4,703	—
Total lease payments		35,182	509
Less imputed interest		(2,559)	(21)
Total	$	32,623	488