The Company has entered into various noncancelable operating leases for its facilities expiring between fiscal 2020 and 2025. Certain lease agreements contain an option for the Company to renew a lease for a term of up to five years or an option to terminate a lease early within three years. The Company considers these options, which may be elected at the Company’s sole discretion, in determining the lease term on a lease-by-lease basis.

Lease expense for these leases is recognized on a straight-line basis over the lease term, with variable lease payments recognized in the period those payments are incurred.

The components of lease cost recognized within the Company’s condensed consolidated statements of operations were as follows (in thousands):

	Three Months Ended March 31, 2020
Operating lease cost⁽¹⁾	$	3,960
Variable lease cost⁽²⁾		—
Short-term lease cost		899

	Three Months Ended March 31, 2019
Operating lease cost⁽¹⁾	$	2,969
Variable lease cost⁽²⁾		3
Short-term lease cost		636

1)	Includes non-cash lease expense of $3.2 million and $2.3 million for the three months ended March 31, 2020 and 2019, respectively.

2)	Primarily related to Consumer Price Index adjustments, common area maintenance and property tax.

Supplemental cash flow information and non-cash activity related to the Company’s operating leases are as follows (in thousands):

Three Months Ended

March 31, 2020

Cash paid for amounts included in measurement of lease

liabilities

3,134

Operating lease assets obtained in exchange for new lease

liabilities

1,862

Three Months Ended

March 31, 2019

Cash paid for amounts included in measurement of lease

liabilities

2,996

Operating lease assets obtained in exchange for new lease

liabilities

—

Maturities of lease liabilities by fiscal year for the Company’s operating leases are as follows (in thousands):

	Amount
Remainder of 2020	$	11,695
2021		17,194
2022		16,994
2023		14,820
2024		2,572
2025 and beyond		2,172
Total lease payments	$	65,447
Less: imputed interest		(5,969	)
Present value of lease liabilities	$	59,478

Weighted average remaining lease term and discount rate for the Company’s operating leases are as follows:

March 31,

2020

Weighted average remaining lease term (years)

3.82

Weighted average discount rate

4.98