NOTE 9. LEASES

We have operating and finance leases primarily for three casino hotel properties, corporate offices, parking ramps, gaming and other equipment. Our leases have remaining lease terms of 1 year to 59 years, some of which include options to extend the leases for up to 67 years, and some of which include options to terminate the leases within 1 year. Certain of our lease agreements, including the Master lease, include provisions for variable lease payments, which represent lease payments that vary due to changes in facts or circumstances occurring after the commencement date other than the passage of time. Such variable lease payments are expensed in the period in which the obligation for these payments is incurred. Variable lease expense recognized in the three months ended March 31, 2019 was not material.

The components of lease expense were as follows:



	Three Months Ended
(In thousands)	March 31, 2019
Operating lease cost	$	29,635
Short-term lease cost	336

Supplemental cash flow information related to leases was as follows:



	Three Months Ended
(In thousands)	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	29,720

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	3,710

Supplemental balance sheet information related to leases was as follows:



(In thousands, except lease term and discount rate)	March 31, 2019
Operating Leases
Operating lease right-of-use assets	$	919,583

Current lease liabilities (included in accrued liabilities)	$	63,815
Operating lease liabilities	855,768
Total operating lease liabilities	$	919,583

Weighted Average Remaining Lease Term
Operating leases	20.2 years

Weighted Average Discount Rate
Operating leases	9.3		%

Maturities of lease liabilities were as follows:




(In thousands)	Operating Leases
For the period ending December 31,
Last three quarters of 2019	$	109,753
2020	138,789
2021	115,046
2022	112,981
2023	111,604
Thereafter	1,375,942
Total lease payments	1,964,115
Less imputed interest	(980,717		)
Less current portion (included in accrued liabilities)	(63,815		)
Long-term portion of operating lease liabilities	$	919,583