Operating Leases and Rights of Use. The facilities of the Company are leased under various operating lease agreements for periods, including options for extensions, ending no later than 2029. The Company also leases motor vehicles under various operating leases, which expire on various dates, the latest of which is in 2022.

Under ASU No. 2016-02, “Leases (Topic 842), all leases with durations greater than 12 months, including non-cancelable operating leases, are now recognized on the balance sheet. The aggregated present value of lease agreements, net of deferred rent, are recorded as a long-term asset titled right-of-use assets. The corresponding lease liabilities are split between other payables within current liabilities and long-term lease liabilities within long-term liabilities. The lease liabilities are presented without consideration for deferred rent.

Upon implementation of ASC-842, effective January 1, 2019, the Company recorded an increase in right-of-use assets obtained in exchange for lease obligations of $15,733 on our opening balance sheet. Lease and rental payments for the six months ended June 30, 2019, totaled $2,374. Future minimum lease payments under non-cancelable operating leases as of June 30, 2019, are as follows:

	June 30,
	2019
	Unaudited
Future minimum lease payments:
2019 (excluding the six months ended June 30, 2019)	$	2,265
2020		4,116
2021		3,826
2022		2,927
2023		1,899
Thereafter		3,695
Total future minimum lease payments	$	18,728
Less imputed interest		(3,198	)
Net present value of future minimum lease payments	$	15,530

Presented as of June 30, 2019:
Short-term lease liabilities	$	3,948
Long-term lease liabilities		11,582
Net present value of future minimum lease payments	$	15,530

Weighted average of remaining operating lease term		5.24

Weighted average of operating lease discount rate		7.44	%

Pledged deposits and bank guarantees. As of June 30, 2019 and December 31, 2018, the Company pledged bank deposits of $1,143 and $1,143, respectively, to cover bank guarantees in respect of its leases of operating facilities and obtained bank guarantees for the fulfillment of the Company’s lease and other contractual commitments of $1,307 and $1,299, respectively.