Leases

3 Months Ended

Mar. 31, 2020

(8) Leases

The Company enters into leases for real estate and equipment. Real estate leases are for our corporate office space and laboratories around the world. Real estate leases have remaining lease terms of less than 1 year to 20 years. Many of the Company’s leases include options to extend the leases on a month to month basis or for set periods for up to 20 years. Many leases also include options to terminate the leases within 1 year or per other contractual terms.

The components of lease expense were as follows (in thousands):

	Three Months Ended March 31,
	2020		2019
Operating lease cost	$	3,768	$	3,117
Variable lease cost		886		594

Supplemental cash flow information related to the leases was as follows (in thousands):

	Three Months Ended March 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,600	$	2,216

Right-of-use assets obtained in exchange for lease obligations:
Operating leases		10,076		3,952

Supplemental balance sheet information related to the leases was as follows (in thousands):

	As of
	March 31,			December 31,
	2020			2019
Operating lease right-of-use assets	$	58,667		$	52,152

Other current liabilities	$	12,556		$	10,977
Operating lease liabilities		51,395			45,212
Total operating lease liabilities	$	63,951		$	56,189

Weighted Average Remaining Lease Term (years)
Operating leases	6.2			6.3
Weighted Average Discount Rate
Operating leases		5.6	%		6.0	%

Lease payments due related to lease liabilities as of March 31, 2020 were as follows (in thousands):

	Related Party			Non-Related Parties			Total
	Operating Leases			Operating Leases			Operating Leases
Remainder of 2020	$	4,200		$	6,920		$	11,120
2021		5,601			9,716			15,317
2022		5,269			6,516			11,785
2023		3,613			5,566			9,179
2024		3,613			4,294			7,907
Later years		9,666			11,339			21,005
Total lease payments		31,962			44,351			76,313
Less: imputed interest		(5,755	)		(6,607	)		(12,362	)
Total	$	26,207		$	37,744		$	63,951

As of March 31, 2020, we have several additional leases with contractual obligations, which have not yet commenced, with future payments of $125.9 million. This includes a lease related to a corporate office under construction in Cincinnati, Ohio, which has not yet commenced, with future payments of $124.0 million. This lease will commence in fiscal year 2020 with an initial lease term of 20 years and a renewal option for two 10-year terms at prevailing market rates.