We lease certain land, buildings and equipment under non-cancellable operating leases used in our operations. Operating lease assets represent our right to use an underlying asset for the lease term. Operating lease liabilities represent the present value of lease payments over the lease term, discounted using an estimate of our secured incremental borrowing rate because none of our leases contain a rate implicit in the lease arrangement.

The operating lease assets and liabilities are adjusted to include the impact of any lease incentives and non-lease components. We have elected not to separate lease and non-lease components, which include taxes and common area maintenance in some of our leases. Variable lease payments that depend on an index or a rate are included in lease payments using the prevailing index or rate in effect at lease commencement.

Options to extend or terminate a lease are included in the lease term when it is reasonably likely that we will exercise that option. We occasionally enter into short term operating leases with an initial term of twelve months or less. These leases are not recorded in the Consolidated Balance Sheets.

We determine if an arrangement is a lease or contains a lease at its inception, which normally does not require significant estimates or judgments. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants and we currently have no material sublease agreements.

In accordance with FASB Staff Q&A - Topic 842 and Topic 840: Accounting for Lease Concessions Related to the Effects of the COVID-19 Pandemic ("FASB Staff Q&A") issued in April 2020, we have elected to account for any lease concessions resulting directly from COVID-19 as if the enforceable rights and obligations for the concessions existed in the respective contracts at lease inception and as such we will not account for any concession as a lease modification. Guidance from the FASB Staff Q&A provided methods to account for rent deferrals which include the option to treat the lease as if no changes to the lease contract were made or to treat deferred payments as variable lease payments. The FASB Staff Q&A allows entities to select the most practical approach and does not require the same approach be applied consistently to all leases. As a result, we have accounted for lease deferrals as if no changes to the lease contract were made and will continue to recognize lease expense, on a straight-line basis, during the deferral periods. During the twelve months ended December 31, 2020, these rent concessions related to COVID-19 were not material.

Components of lease expense for the twelve months ended December 31, 2020 and December 31, 2019 were as follows:

	Years Ended December 31,
	2020		2019
Operating lease cost	$	4,763	$	4,342
Short-term lease cost		1,015		1,013
Total lease cost	$	5,778	$	5,355

Rent expense prior to adoption of ASC 842 was $5,726 for the year ended December 31, 2018.

	Years Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease obligations	$	4,654	$	3,957
Leased assets obtained in exchange for new operating lease obligations	$	1,678	$	5,000


	As of December 31
Balance Sheet Classification:	2020		2019
Operating lease obligations	$	3,294	$	2,787
Long-term operating lease obligations		23,163		24,926
Total lease liabilities	$	26,457	$	27,713
Weighted-average remaining lease terms (years)		7.88		9.04
Weighted-average discount rate		6.40%		6.54%

Remaining maturity of our existing lease liabilities as of December 31, 2020 is as follows:

	Operating Leases⁽¹⁾
2021	$	4,854
2022		4,691
2023		4,258
2024		4,119
2025		3,563
Thereafter		13,406
Total	$	34,891
Less: interest		(8,434)
Present value of lease payments	$	26,457