Leases

12 Months Ended

Dec. 31, 2020

Note 6 — Leases

We charter vessels and lease facilities and equipment under non-cancelable contracts that expire on various dates through 2031. We also sublease some of our facilities under non-cancelable sublease agreements. As of December 31, 2020, the minimum sublease income to be received in the future totaled $2.1 million.

The following table details the components of our lease cost in 2020 and 2019 (in thousands):


	Year Ended December 31,
	2020		2019

Operating lease cost	$	64,742	$	70,860
Variable lease cost	15,021		13,780
Short-term lease cost	37,524		20,384
Sublease income	(1,286)		(1,391)
Net lease cost	$	116,001	$	103,633

For the year ended December 31, 2018, total rental expense was approximately $147.8 million and total sublease rental income was $1.4 million.

Maturities of our operating lease liabilities as of December 31, 2020 are as follows (in thousands):


	Vessels		Facilities and Equipment		Total

Less than one year	$	54,621	$	6,028	$	60,649
One to two years	52,106		5,435		57,541
Two to three years	34,580		4,649		39,229
Three to four years	2,470		4,374		6,844
Four to five years	—		2,340		2,340
Over five years	—		4,054		4,054
Total lease payments	$	143,777	$	26,880	$	170,657
Less: imputed interest	(13,352)		(4,697)		(18,049)
Total operating lease liabilities	$	130,425	$	22,183	$	152,608

Current operating lease liabilities	$	46,748	$	4,851	$	51,599
Non-current operating lease liabilities	83,677		17,332		101,009
Total operating lease liabilities	$	130,425	$	22,183	$	152,608

Maturities of our operating lease liabilities as of December 31, 2019 are as follows (in thousands):


	Vessels		Facilities and Equipment		Total

Less than one year	$	60,210	$	6,610	$	66,820
One to two years	54,564		5,888		60,452
Two to three years	52,106		5,257		57,363
Three to four years	34,580		4,622		39,202
Four to five years	2,470		4,349		6,819
Over five years	—		6,251		6,251
Total lease payments	$	203,930	$	32,977	$	236,907
Less: imputed interest	(24,846)		(6,449)		(31,295)
Total operating lease liabilities	$	179,084	$	26,528	$	205,612

Current operating lease liabilities	$	48,716	$	5,069	$	53,785
Non-current operating lease liabilities	130,368		21,459		151,827
Total operating lease liabilities	$	179,084	$	26,528	$	205,612

The following table presents the weighted average remaining lease term and discount rate:


	December 31,
	2020		2019

Weighted average remaining lease term	3.1 years		4.0 years
Weighted average discount rate	7.53	%	7.54	%

The following table presents other information related to our operating leases (in thousands):


	Year Ended December 31,
	2020		2019

Cash paid for operating lease liabilities	$	66,026	$	71,698
ROU assets obtained in exchange for new operating lease obligations	516		1,168