Leases

The Company leases its store locations and vehicles under operating leases. The store lease terms, including rental period, renewal options, escalation clauses and rent as a percentage of sales, vary among the leases. Most store leases require the Company to pay real estate taxes and common area maintenance charges. In addition, we have lease agreements that contain both lease and non-lease components. We have elected to combine lease and non-lease components for all classes of assets.

Maturities of our lease liabilities as of November 2, 2019 are as follows:



(in thousands)	Lease Liabilities⁽¹⁾
Remainder of 2019	$	9,439
2020	32,922
2021	26,863
2022	23,204
2023	22,142
Thereafter	45,203
Total lease payments	159,773
Less: Imputed interest	(26,867		)
Present value of lease liabilities	132,906
Less: Current lease liabilities	(26,760		)
Long-term lease liabilities	$	106,146


⁽¹⁾	Includes retail stores and the corporate headquarters facility, including the distribution center.

Maturities of our lease liabilities as of February 2, 2019 (under ASC 840, Leases) were as follows:



(in thousands)	Lease Liabilities⁽¹⁾
2019	$	36,965
2020	25,887
2021	21,386
2022	18,439
2023	17,811
Thereafter	38,827
Total lease payments	$	159,315


⁽¹⁾	Includes retail stores and the corporate headquarters facility, including the distribution center.

The weighted average remaining lease terms and discount rates for all leases as of November 2, 2019 were as follows:



Remaining lease term and discount rate:	November 2, 2019
Weighted average remaining lease term (years)	5.9
Weighted average discount rate	5.9	%

Operating expense for the thirteen weeks ended November 2, 2019 totaled approximately $9.5 million, with $0.8 million of that amount representing operating lease variable rent that was recorded in cost of sales. In addition, all but $10 thousand of the $8.7 million of non-variable operating lease rent is included in cost of sales. Ten thousand of operating lease expense is included in selling, general and administrative expenses. For the thirteen weeks ended November 2, 2019, cash lease payments were $9.8 million, and right of use assets obtained in exchange for lease liabilities were $5.2 million.

Operating expense for the thirty-nine weeks ended November 2, 2019 totaled approximately $30.2 million, with $1.6 million of that amount representing operating lease variable rent that was recorded in cost of sales. In addition, all but $61 thousand of the $28.6 million of non-variable operating lease expense is included in cost of sales. Sixty-one thousand of operating lease expense is included in selling, general and administrative expenses. For the thirty-nine weeks ended November 2, 2019, cash lease payments were $31.1 million, and right of use assets obtained in exchange for lease liabilities were $7.8 million.