NOTE 5. LEASES

We have operating leases for certain manufacturing sites, office space, and equipment. Most leases include the option to renew, with renewal terms that can extend the lease term from one to five years or more. Right-of-use lease assets and lease liabilities are recognized at the commencement date based on the present value of the remaining lease payments over the lease term which includes renewal periods we are reasonably certain to exercise. Our leases do not contain any material residual value guarantees or material restrictive covenants. At March 31, 2019, we do not have material lease commitments that have not commenced.

The components of lease expense were as follows:


	Three Months Ended March 31,
Lease Cost	2019
Operating lease cost	$	274
Finance lease interest cost		17
Finance lease amortization expense		65
Total lease cost	$	356

Supplemental balance sheet information related to leases was as follows:


	Balance Sheet Location	March 31, 2019
Assets
Operating lease assets	Operating lease assets	$	5,388
Finance lease assets	Property, Plant and Equipment		1,358
Total leased assets			6,745
Liabilities
Current
Current operating lease liabilities	Current Portion of Operating Lease Obligations		811
Current finance lease liabilities	Current Portion of Finance Lease Obligations		359
Noncurrent
Long-term operating lease liabilities	L-T Operating Lease Liabilities, Net		4,813
Long term finance lease liabilities	L-T Finance Lease Obligations, Net		864
Total lease liabilities		$	6,847

Supplemental cash flow information related to leases was as follows:


	Three Months Ended March 31,
	2019
Operating leases
Cash paid for amounts included in the measurement of lease liabilities	$	107
Right-of-use assets obtained in exchange for lease obligations	$	—

Maturities of lease liabilities were as follows:


	Operating Leases		Finance Leases		Total
Remaining 2019	$	671	$	320	$	991
2020		858		398		1,256
2021		722		398		1,120
2022		726		223		949
2023		738		2		740
Thereafter		3,380		—		3,380
Total lease payments	$	7,095	$	1,341	$	8,436
Less: Interest		(1,471)		(118)		(1,589)
Present value of lease liabilities	$	5,624	$	1,223	$	6,847

The lease term and discount rate at March 31, 2019 were as follows:


	March 31,
	2019
Weighted-average remaining lease term (years)
Operating leases	8.3
Finance leases	3.7
Weighted-average discount rate
Operating leases	4.8	%
Finance leases	5.4	%

Rent expense for our operating leases the three months ended March 31, 2018 as accounted under ASC 840, Leases, was $335.

The future minimum lease commitments as of December 31, 2018, under ASC 840 are as follows:


	Operating Leases
2019	$	1,024
2020		858
2021		722
2022		726
2023		738
Thereafter		3,380
Total minimum obligations	$	7,448