The Company leases office space, storage warehouses and certain plant equipment under various operating leases. The Company determines if an arrangement is a lease at inception. The arrangement is a lease if it conveys the right to the Company to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Operating leases are included in operating lease

right-of-use

(ROU) assets, accrued expenses and other current liabilities, and operating lease liabilities in the condensed consolidated balance sheets. Operating leases with an initial term of

12 months or less

are not included in the condensed consolidated balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. ROU assets represent the right to use an underlying asset for the lease term and operating lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company gives consideration to instruments with similar characteristics when calculating its incremental borrowing rate. The Company’s operating leases have remaining lease terms of

year to

years. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

For the nine months ended September 30, 2019, total operating lease cost was $6.3 million. The weighted average remaining lease term and weighted average discount rate at September 30, 2019 were 6.6 years and 3.67%, respectively.

The following table includes supplemental cash flow information for the nine months ended September 30, 2019 and supplemental balance sheet information at September 30, 2019 related to operating leases (in thousands):


Supplemental cash flow information
Cash paid for amounts included in the measurement of operating lease liabilities	$	6,356
Operating ROU assets obtained in exchange for lease liabilities	$	855

Supplemental balance sheet information
Operating lease ROU assets	$	41,317
Operating lease liabilities:
Accrued expenses and other current liabilities	$	6,961
Operating lease liabilities		35,662

Total operating lease liabilities	$	42,623

The following table summarizes maturities of operating lease liabilities at September 30, 2019 (in thousands):


Maturities of operating lease liabilities
2019	$	2,123
2020		8,376
2021		8,183
2022		6,368
2023		6,013
Thereafter		17,145

Total lease payments		48,208
Less imputed interest		(5,585	)

Total operating liabilities	$	42,623