Leases

The Company leases the majority of its office facilities as well as certain equipment, all of which are accounted for as operating leases. These leases have remaining terms ranging from less than 1 year to approximately 6 years. Some leases include options to extend the lease for up to 5 years and others include options to terminate.

The following table summarizes the components of lease cost recognized in the condensed consolidated statements of operations for the three months ended April 27, 2019 (dollars in thousands):



	For the Three Months Ended
	April 27, 2019
Lease cost under long-term operating leases	$	8,331
Lease cost under short-term operating leases	8,406
Variable lease cost under short-term and long-term operating leases⁽¹⁾	1,210
Total lease cost	$	17,947

⁽¹⁾Variable lease expense primarily includes insurance, maintenance, and other operating expenses related to the Company’s leased office facilities.

The Company’s operating lease liabilities related to long-term operating leases were $69.5 million as of April 27, 2019. Supplemental balance sheet information related to these liabilities is as follows (dollars in thousands):



	April 27, 2019
Weighted average remaining lease term	3.4 years
Weighted average discount rate	5.3	%

Supplemental cash flow information related to the Company’s long-term operating lease liabilities as of April 27, 2019 is as follows (dollars in thousands):



	For the Three Months Ended
	April 27, 2019
Cash paid for amounts included in the measurement of lease liabilities:	$	8,189
Operating lease right-of-use assets obtained in exchange for operating lease liabilities:	$	5,513

As of April 27, 2019, maturities of the Company’s lease liabilities under its long-term operating leases for the next five fiscal years and thereafter are as follows (dollars in thousands):



Fiscal Year	Amount
Remainder of 2020	$	21,954
2021	23,394
2022	15,382
2023	7,678
2024	4,885
Thereafter	4,132
Total lease payments	77,425
Less: imputed interest	(7,904		)
Total	$	69,521

As of April 27, 2019, the Company had additional operating leases that have not yet commenced of $2.2 million. These leases will commence during the second quarter of fiscal 2020.

As of January 26, 2019, the future minimum obligation by fiscal year for the Company’s operating leases with original noncancelable terms in excess of one year was as follows (dollars in thousands):



Fiscal Year	Amount
2020	$	28,415
2021	20,166
2022	12,919
2023	6,686
2024	4,342
Thereafter	3,675
Total	$	76,203

See Note 2, Significant Accounting Policies and Estimates, for further information on the Company’s accounting policy for leases and Note 3, Accounting Standards, for further information on the Company’s adoption of ASU 2016-02.