Our leasing activity is primarily related to buildings used for manufacturing, warehousing, sales, and administrative activities. We determine if an arrangement is a lease at inception. Many of our lease agreements contain renewal options; however, we do not recognize ROU assets or lease liabilities for renewal periods unless it is determined that we are reasonably certain of renewing the lease at inception or when a triggering event occurs. Some of our lease agreements contain rent escalation clauses, free-rent periods, or other lease concessions. We recognize our minimum rental expense on a straight-line basis based on the fixed components of a lease arrangement. Variable lease costs represent amounts that are not fixed in nature and are not tied to an index or rate, and are recognized as incurred. Our variable lease costs are not material.

In determining our ROU assets and lease liabilities, we apply a discount rate to the minimum lease payments within each lease agreement. ASU 2016-02 requires us to use the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. When we cannot readily determine the discount rate implicit in the lease agreement, we utilize our fully collateralized incremental borrowing rate. To estimate our specific incremental borrowing rates we consider, among other factors, interest rates on our existing credit facilities, risk-free rates, the types of assets being leased, and the term of the leases.

(table only in thousands)	December 31, 2019
Operating lease cost (a)	$	3,612
Finance lease cost:
Amortization of right-of-use assets		309
Interest on lease liability		360
Total finance lease cost		669
Total lease cost	$	4,281
(a) includes variable lease costs which are immaterial

(table only in thousands)	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	3,453
Operating cash flows from finance leases	$	360
Financing cash flows from finance leases	$	478
Right of use assets obtained in exchange for lease obligations
Operating leases	$	3,547

(table only in thousands)	December 31, 2019
Operating leases
Right-of-use assets from operating leases	$	13,607

Accounts payable and accrued expenses	$	2,610
Operating lease liabilities		11,116
Total operating lease liabilities	$	13,726

Finance leases
Property, plant and equipment, net	$	3,255

Accounts payable and accrued expenses	$	516
Other liabilities		7,340
Total finance lease liabilities	$	7,856

Weighted-average remaining lease term
Operating leases		9 years
Finance leases		12 years
Weighted-average discount rate
Operating leases		5.3%
Finance leases		4.5%

(table only in thousands)	Operating Leases			Finance Leases
2020		3,161			855
2021		2,756			872
2022		2,103			889
2023		1,944			907
2024		1,778			925
Thereafter		4,810			5,484
Total minimum lease payments	$	16,552		$	9,932
Less imputed interest		(2,826	)		(2,076	)
Lease liability	$	13,726		$	7,856

As previously disclosed in our Annual Report on Form 10-K, for the year ended December 31, 2018 and under previous lease accounting standards, future minimum lease payments for operating leases having initial or remaining noncancelable lease terms in excess of one year would have been as follows:

(table only in thousands)	December 31, 2018
2019	$	2,745
2020		1,880
2021		1,454
2022		931
2023		851
Thereafter		2,278
Total	$	10,139