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Leases | 9 Months Ended
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Sep. 29, 2019
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 September 29, 2019 was $9.1 million and included $3.0 million of variable lease costs and $0.7 million of costs related to short-term leases which are not recorded on the consolidated balance sheets. Total lease expense for the nine months ended September 29, 2019 was $26.6 million and included $8.3 million of variable lease costs and $2.2 million of costs related to short-term leases which are not recorded on the consolidated balance sheets. At September 29, 2019, the weighted average remaining lease term and weighted average discount rate for operating leases was 4.7 years and 5.0%, respectively. Supplemental cash flow information related to leases was as follows:
|  | For the Three Months Ended |  |  | For the Nine Months Ended |
|  | September 29, 2019 |  |  | September 29, 2019 |
|  | (in thousands) |
Cash paid for amounts included in the measurement of lease liabilities included in operating cash flows: |  | $ | 4,946 |  |  | $ | 14,998 |
Right-of-use assets obtained in exchange for new lease obligations |  |  | 8,315 |  |  |  | 23,727 |
Maturities of lease liabilities as of September 29, 2019 were as follows:
|  | Operating Lease |
|  | (in thousands) |
2019 |  | $ | 5,520 |
2020 |  |  | 20,368 |
2021 |  |  | 16,045 |
2022 |  |  | 11,603 |
2023 |  |  | 6,135 |
Thereafter |  |  | 13,285 |
Total lease payments |  |  | 72,956 |
Less imputed interest |  |  | (7,757 | )
Total lease liabilities |  | $ | 65,199 |
As of December 31, 2018, future non-cancelable rent obligations as determined under ASC 840 were as follows:
|  | Operating Lease |
|  | (in thousands) |
2019 |  | $ | 19,570 |
2020 |  |  | 18,293 |
2021 |  |  | 13,578 |
2022 |  |  | 9,693 |
2023 |  |  | 5,449 |
Thereafter |  |  | 9,472 |
Total lease payments |  | $ | 76,055 |

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- Definition Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph (Note 1,3) -URI http://asc.fasb.org/extlink&oid=82846649&loc=d3e38371-112697 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41499-112717 Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118943654&loc=d3e12069-110248 Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84164451&loc=d3e36991-112694 + Details
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