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Lease | H. LEASES On January 1, 2019, Teradyne adopted ASC 842 using the modified retrospective approach. Under this method of adoption, the comparative information in the consolidated financial statements has not been revised and continues to be reported under the previously applicable lease accounting guidance (ASC 840). Adoption of ASC 842 resulted in recording ROU assets and lease liabilities of approximately $50.1 million and $54.3 million, respectively. The adoption of ASC 842 did not have a material impact on beginning retained earnings, the consolidated statement of operations, cash flows, or earnings per share. Teradyne has facility and auto leases, which are accounted for as operating leases. Teradyne’s facility leases are primarily used for administrative functions, research and development, manufacturing, and storage and distribution. Remaining lease terms range from less than one year to ten years. Total lease expense for the three months ended June 30, 2019 was $8.9 million and included $2.6 million of variable lease costs and $0.8 million of costs related to short-term leases which are not recorded on the consolidated balance sheets. Total lease expense for the six months ended June 30, 2019 was $17.1 million and included $5.0 million of variable lease costs and $1.5 million of costs related to short-term leases which are not recorded on the consolidated balance sheets. At June 30, 2019, the weighted average remaining lease term and weighted average discount rate for operating leases was 4.7 years and 5.2%, respectively. Supplemental cash flow information related to leases was as follows:
Maturities of lease liabilities as of June 30, 2019 were as follows:
As of December 31, 2018, future
non-cancelable rent obligations as determined under ASC 840 were as follows:
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