The Company has entered into operating and financing leases primarily for real estate and vehicles. The Company will determine whether an arrangement is a lease at inception of the agreement. The operating leases have terms of one to ten years, and often include one or more options to renew. These renewal terms can extend the lease term from two to ten years, and are included in the lease term when it is reasonably certain that the Company will exercise the option. The Company considers these options in determining the lease term used in establishing our right-of-use assets and lease obligations. The Company lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Because the rate implicit in each operating lease is not readily determinable, the Company uses its incremental borrowing rate to determine present value of the lease payments. The Company used the implicit rates within the finance leases.

Components of the Company’s lease costs for the three and nine months ended September 30, 2020 and 2019 are as follows (in thousands):

	For the Three Months Ended September 30,
	2020		2019
Amortization of ROU assets - Finance leases	$	21	$	19
Interest on lease liabilities - Finance leases		5		6
Variable lease cost (cost excluded from lease payments)		128		113
Operating lease cost (cost resulting from lease payments)		340		331
Total lease cost	$	494	$	469

	For the Nine Months Ended September 30,
	2020		2019
Amortization of ROU assets - Finance leases	$	64	$	58
Interest on lease liabilities - Finance leases		16		17
Variable lease cost (cost excluded from lease payments)		391		337
Operating lease cost (cost resulting from lease payments)		1,023		918
Total lease cost	$	1,494	$	1,330

Supplemental cash flow information and non-cash activity related to our operating and financing leases as of September 30, 2020 and 2019 are as follows (in thousands):

	September 30, 2020		September 30, 2019
Finance lease - Operating cash flows	$	16	$	20
Finance lease - Financing cash flows	$	55	$	66

Operating lease - Operating cash flows (fixed payments)	$	1,080	$	613
Operating lease - Operating cash flows (liability reduction)	$	761	$	465

Supplemental balance sheet information related to our operating and financing leases as of September 30, 2020 are as follows (in thousands):

	Balance Sheet Classification	September 30, 2020
Right-of-use assets - operating	Other assets	$	6,192
Right-of-use assets - finance	Other assets	$	237
Lease Liability ⁽¹⁾ - operating	Accounts payable and other liabilities	$	(7,880	)
Lease Liability - finance	Accounts payable and other liabilities	$	(270	)

(1) Includes $1.3 million in lease incentives received in the first quarter of 2019.

Weighted-average remaining lease term and discount rate for our operating and financing leases as of September 30, 2020 are as follows:

	September 30, 2020
Weighted average lease term - Finance leases	2.93 yrs.
Weighted average lease term - Operating leases	7.18 yrs.
Weighted average discount rate - Finance leases		7.1	%
Weighted average discount rate - Operating leases		5.3	%

Maturities of lease liabilities by fiscal year for our operating and financing leases as of September 30, 2020 are as follows (in thousands):

	September 30, 2020
2020 remaining	$	396
2021		1,574
2022		1,580
2023		1,487
2024		1,112
Thereafter		3,694
Total lease payments		9,843
Less: imputed interest		(1,693	)
Present value of lease liabilities	$	8,150