Chemed and each of its operating subsidiaries are service companies. As such, real estate leases comprise the largest lease obligation (and conversely, right of use asset) in our lease portfolio. VITAS has leased office space, as well as space for IPUs and/or contract beds within hospitals. Roto-Rooter has leased office space. Our leases have remaining terms of under 1 year to 10 years, some of which include options to extend the lease for up to 5 years, and some of which include options to terminate the lease within 1 year.

We do not currently have any finance leases, therefore all lease information disclosed is related to operating leases.

The components of balance sheet information related to leases were as follows:


	‎September 30,		‎December 31,
	2020		2019
Assets
Operating lease assets	$	120,382	$	111,652

Liabilities
Current operating leases		33,311		39,280
Noncurrent operating leases		99,241		86,656
Total operating lease liabilities	$	132,552	$	125,936

The components of lease expense for the third quarter is as follows (in thousands):


	Three months ended September 30,
	2020		2019
Lease Expense (a)
Operating lease expense	$	15,277	$	12,728
Sublease income		(31)		-
Net lease expense	$	15,246	$	12,728

The components of lease expense for the first nine months is as follows (in thousands):


	Nine months ended September 30,
	2020		2019
Lease Expense (a)
Operating lease expense	$	45,007	$	35,181
Sublease income		(38)		(6)
Net lease expense	$	44,969	$	35,175

(a)Includes short-term leases and variable lease costs, which are immaterial. Included in both cost of services provided and goods sold and selling, general and administrative expenses.

The components of cash flow information related to leases were as follows:


	Nine months ended ‎September 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from leases	$	37,393	$	30,237

Leased assets obtained in exchange for new operating lease liabilities	$	44,366	$	38,890


Weighted Average Remaining Lease Term at September 30, 2020
Operating leases	5.1	years


Weighted Average Discount Rate at September 30, 2020
Operating leases	2.98	%


Maturity of Operating Lease Liabilities (in thousands)

2020	$	11,344
2021		39,588
2022		29,719
2023		22,767
2024		16,931
Thereafter		27,738
Total lease payments	$	148,087
Less: interest		(10,977)
Less: future lease obligations not yet commenced		(4,558)
Total liability recognized on the balance sheet	$	132,552

For leases commencing prior to April 2019, minimum rental payments exclude payments to landlords for real estate taxes and common area maintenance. Operating lease payments include $2.3 million related to extended lease terms that are reasonably certain of being exercised and exclude $4.6 million lease payments for leases signed but not yet commenced.