Leases

12 Months Ended

Dec. 31, 2019

We have operating leases for various types of properties, consisting of manufacturing plants, engineering and research centers, distribution warehouses, offices and other facilities, and equipment used in operations. Some leases provide us with an option, exercisable at our sole discretion, to terminate the lease or extend the lease term for one or more years. When measuring assets and liabilities arising from a lease that provides us with an option to extend the lease term, we take into account payments to be made in the optional extension period when it is reasonably certain that we will exercise the option. Total lease cost (all of which related to operating leases) was $30.2 million, $32.6 million and $31.0 million for the years ended December 31, 2019, 2018 and 2017, respectively.

Maturities of lease liabilities


	December 31, 2019
	(Dollars in thousands)
2020	$	25,323
2021	24,263
2022	22,484
2023	17,653
2024	13,688
2025 and thereafter	40,704
Total lease payments	144,115
Less: interest	(21,894)
Present value of lease liabilities	$	122,221

Supplemental information


	December 31, 2019
	(Dollars in thousands)
Total lease liabilities₍₁₎	$	122,221
Cash paid for amounts included in the measurement of lease liabilities within operating cash flows	$	26,458
Right of use assets obtained in exchange for operating lease obligations	$	37,673
Weighted average remaining lease term	7.2 years
Weighted average discount rate	4.4		%

(1) The current portion of the operating lease liability is included in other current liabilities.

As of December 31, 2018, minimum lease payments under noncancellable operating leases were expected to be as follows:


	December 31, 2018
	(Dollars in thousands)
2019	$	25,294
2020	23,216
2021	21,419
2022	19,460
2023	17,403
2024 and thereafter	41,368