The Company regularly enters into leases in the normal course of business. As of December 31, 2022, the leases in effect were related to land, buildings, vehicles, office equipment and other production equipment under operating leases with lease terms of up to 99 years. Some of the Company's leases include one or more renewal options, the exercise of which is generally at the Company's discretion. In addition, certain lease arrangements may be terminated prior to their original expiration date at the Company’s discretion. The Company evaluates renewal and termination options at the lease commencement date to determine if the Company is reasonably certain to exercise the option on the basis of economic factors. The weighted average remaining lease term for the Company’s operating and financing leases as of December 31, 2022 was 18.4 and 3.5 years, respectively.

Lease expense is recognized for these leases on a straight-line basis over the lease term with variable lease payments recognized in the period those payments are incurred. The components of operating and finance lease costs are recognized in Costs and expenses and Interest expense, respectively, on the Company’s Consolidated Statements of Income. The Company’s operating and finance lease costs for the years ended December 31 were as follows:


	Year Ended December 31,
	2022		2021		2020
Components of lease expense:
Operating lease cost	$	2,538	$	2,870	$	2,957

Finance lease cost:
Amortization of right-of-use assets		189		388		66
Interest on lease liabilities		19		13		9
Total lease cost	$	2,746	$	3,271	$	3,032

The discount rate implicit within each lease is often not determinable and, therefore, the Company establishes the discount rate based on its incremental borrowing rate. The incremental borrowing rate for the Company’s leases is determined based on lease term and currency in which lease payments are made, adjusted for impacts of collateral. The weighted average discount rate used to measure the Company’s operating and finance lease liabilities as of December 31, 2022 was 4.73% and 3.92%, respectively. The weighted average discount rate used to measure the Company’s operating and finance lease liabilities as of December 31, 2021 was 4.96% and 4.21%, respectively.

Future maturities of the Company’s lease liabilities as of December 31, 2022 are as follows:


	Year Ended December 31, 2022
	Operating Leases		Finance Leases
2023	$	2,013	$	191
2024		1,266		146
2025		1,046		129
2026		978		67
2027 and thereafter		8,225		28
Total lease payments		13,528		561
Less amount of lease payment representing interest		4,899		35
Total present value of lease payments	$	8,629	$	526

Amounts recognized as finance lease obligations are reported in Accrued expense and other liabilities and Other noncurrent liabilities in the Consolidated Balance Sheets.

The Company received sublease income of $1.1 million and $1.0 million for the years ended December 31, 2022 and 2021, respectively. The total minimum sublease rentals under noncancelable subleases to be received through 2023 is $0.5 million.

Supplemental cash flow information related to leases for the years ended December 31, 2022 and 2021 was as follows:


	Year Ended December 31,
	2022		2021		2020
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,528	$	2,608	$	2,793
Operating cash flows from finance leases		19		13		9
Financing cash flows from finance leases		256		375		118