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Leases | 3 Months Ended
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Mar. 31, 2019
Lessee Disclosure [Abstract] |
Leases | Leases The Company leases certain office facilities, warehouses, manufacturing plants, equipment (which includes both office and plant equipment) and vehicles under operating leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Certain leases include one or more options to renew. The exercise of lease renewal options is at the Company’s sole discretion. There are currently no renewal periods included in any of the leases’ respective lease terms as they are not reasonably certain of being exercised. The Company does not have any material purchase options. Certain of our lease agreements have rental payments that are adjusted periodically for inflation or that are based on usage. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Supplemental balance sheet information related to leases as of March 31, 2019 was as follows:
| Balance Sheet Caption | March 31, 2019
Operating leases: |  |
Building right-of-use assets - net | Other noncurrent assets | $ | 59,624 |
Equipment right-of-use assets - net | Other noncurrent assets | 6,861 |
Total right-of-use assets - net |  | $ | 66,485 |
Operating leases: |  |
Current lease liabilities | Accrued expenses | $ | 13,194 |
Noncurrent lease liabilities | Other noncurrent liabilities | 54,968 |
Total lease liabilities |  | $ | 68,162 |
As part of the adoption of the new lease standard, the Company derecognized its liability for the construction of a new leased facility that was recorded in Other noncurrent liabilities on the Condensed Consolidated Balance Sheets and recorded it as a right of use asset in Other noncurrent assets on the Condensed Consolidated Balance Sheets with a corresponding lease liability in Accured expenses and Other noncurrent liabilities on the Condensed Consolidated Balance Sheets. The components of lease cost for the three months ended March 31, 2019 were as follows:
| Three Months Ended March 31, 2019
Operating lease cost (1) | $ | 5,375 |
Variable lease cost | 593 |
Total lease expense | $ | 5,968 |
(1) Includes short-term leases, which are immaterial. Supplemental cash flow information related to leases for the three months ended March 31, 2019 was as follows:
| Three Months Ended March 31, 2019
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 5,539 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 1,809 |
Other supplemental information related to leases as of March 31, 2019 was as follows:
Lease Term and Discount Rate | March 31, 2019
Weighted-average remaining lease term (years): |
Operating leases - building and equipment | 8.39 |
Operating leases - vehicles | 1.11 |
Weighted-average discount rate: |
Operating leases - building and equipment | 4.02 | %
Operating leases - vehicles | 3.23 | %
The Company uses the implicit rate to determine the present value of the lease payments. If the implicit rate is not defined in the lease, the Company uses its incremental borrowing rate to determine the present value of the lease payments. The Company used either the implicit rate or the incremental borrowing rate based on the information available at the transition date to determine the present value of the lease payments as of January 1, 2019. Total lease liabilities at March 31, 2019 have scheduled maturities as follows:
Maturity of Lease Liabilities | Operating Leases (1)
2019 (excluding the three months ended March 31, 2019) | $ | 11,276 |
2020 | 13,158 |
2021 | 11,161 |
2022 | 8,193 |
2023 | 6,626 |
Thereafter | 30,123 |
Total lease payments | 80,537 |
Less: Imputed interest | (12,375 | )
Present value of lease liabilities | $ | 68,162 |
(1) Excludes $25.2 million of legally binding minimum lease payments for leases signed but not yet commenced. Total lease liabilities at December 31, 2018 had scheduled maturities as follows:
Maturity of Lease Liabilities | Operating Leases
2019 | $ | 17,509 |
2020 | 13,162 |
2021 | 10,516 |
2022 | 7,979 |
2023 | 6,535 |
Thereafter | 29,658 |
Total lease payments | $ | 85,359 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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