Our operating leases primarily relate to office space and office equipment with remaining lease terms of 1 to 11 years. At December 31, 2019, operating lease right-of-use assets were $725.8 million and included in fixed assets, net in the consolidated statements of financial condition, and lease liabilities were $707.0 million and included in accounts payable and accrued expenses in the consolidated statements of financial condition.

The table below summarizes our net lease cost for the year ended December 31, 2019 (in thousands):

Operating lease cost	$	90,354
Short-term lease cost		1,479
Variable lease cost		79
Sublease income		(4,761	)
Net lease cost	$	87,151

Operating lease costs, included in occupancy and equipment rental in the consolidated statements of operations, were $87.2 million for the year ended December 31, 2019.

The table below summarizes other information related to our operating leases as of and for the year ended December 31, 2019 (in thousands):

Operating lease cash flows	$	89,976
Weighted-average remaining lease term	11.4 years
Weighted-average discount rate		4.58	%

In the table above, the weighted-average discount rate represents our company’s incremental borrowing rate as of January 2019 for leases existing on the date of adoption of the new lease standard and at the lease inception date for leases entered into subsequent to the adoption of ASU 2016-02.

The table below presents information about operating lease liabilities as of December 31, 2019, (in thousands, except percentages):

2020	$	94,093
2021		88,436
2022		86,594
2023		85,491
2024		83,517
Thereafter		479,986
Total undiscounted lease payments		918,117
Imputed interest		(211,078	)
Total operating lease liabilities	$	707,039