Leases

12 Months Ended

Dec. 31, 2019

Leases

The Company leases certain equipment and facilities under non-cancelable operating leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet; expense related to these leases is recognized on a straight-line basis over the lease term.

The components of lease expense are as follows (dollars in thousands):



	Year ended December 31, 2019
Operating lease cost	$	6,380
Short-term, variable and other lease costs	1,140
Total lease cost	$	7,520

Maturities of lease liabilities are as follows (dollars in thousands):



Year ended December 31,	Operating Leases^(a)
2020	$	7,600
2021	6,520
2022	5,640
2023	4,210
2024	3,210
Thereafter	9,320
Total lease payments	36,500
Less: Imputed interest	(8,300		)
Present value of lease liabilities	$	28,200

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^(a)	The maturity table excludes cash flows associated with exited lease facilities. Liabilities for exited lease facilities are included in accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheet.

The weighted-average remaining term of the Company's operating leases as of December 31, 2019 is approximately 6.0 years. The weighted-average discount rate as of December 31, 2019 is approximately 5.0%.

Cash paid for amounts included in the measurement of operating lease liabilities during the year ended December 31, 2019 was approximately $6.4 million, and is included in cash flows provided by operating activities in the consolidated statement of cash flows.

Right-of-use assets obtained in exchange for lease liabilities during the year ended December 31, 2019 was approximately $1.4 million.

Rental expense for operating leases as classified under prior authoritative lease guidance for the Company was approximately $5.8 million in 2018 and $9.5 million in 2017. Minimum payments for operating leases having initial or remaining non-cancelable lease terms in excess of one year at December 31, 2018 as classified under prior authoritative lease guidance were as follows (dollars in thousands):



Year ended December 31,	Minimum Payments
2019	$	8,800
2020	8,770
2021	8,030
2022	6,260
2023	5,290
Thereafter	11,690
Total	$	48,840