9. Leases

The Company leases retail shoe stores, as well as several office and distribution facilities worldwide. The leases have original lease periods expiring between 2019 and 2033. Many leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The components of the Company’s operating lease costs were as follows (dollars in thousands):


	Three Months Ended		Nine Months Ended
	September 30, 2019		September 30, 2019
Operating lease costs	$	2,198	$	6,590
Variable lease costs (1)		—		43
Total lease costs	$	2,198	$	6,633

⁽¹⁾

Variable lease costs primarily include percentage rentals based upon sales in excess of specified amounts.

Short-term lease costs, which were excluded from the above table, are not material to the Company’s financial statements.

The following is a schedule of maturities of operating lease liabilities as of September 30, 2019 (dollars in thousands):


	Operating Leases
2019, excluding the nine months ended September 30, 2019	$	2,039
2020		7,163
2021		5,562
2022		3,313
2023		2,279
Thereafter		2,941
Total lease payments		23,297
Less imputed interest		(2,020)
Present value of lease liabilities	$	21,277

The operating lease liabilities are classified in the consolidated condensed balance sheet (unaudited) as follows (dollars in thousands):


	September 30, 2019
Operating lease liabilities – current	$	6,817
Operating lease liabilities - non-current		14,460
Total	$	21,277

The Company determined the present value of its lease liabilities using a weighted-average discount rate of 4.25%. As of September 30, 2019, the Company’s leases have a weighted-average remaining lease term of 4.6 years.

The future minimum rental commitments under operating leases in effect as of December 31, 2018 having non-cancelable lease terms in excess of one year, as determined in accordance with Topic 840 (prior to the adoption of ASC 842), were as follows (dollars in thousands):


	Operating Leases
2019	$	9,468
2020		7,529
2021		5,584
2022		3,278
2023		2,321
Thereafter		4,161
Total	$	32,341

Supplemental cash flow information related to the Company’s operating leases is as follows (dollars in thousands):


	Three Months Ended		Nine Months Ended
	September 30, 2019		September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities	$	2,278	$	6,803
Right-of-use assets obtained in exchange for new lease liabilities (noncash)	$	—	$	27,002