7. Leases

The Company leases retail shoe stores, as well as several office and distribution facilities worldwide. The leases have original lease periods expiring between 2020 and 2030. 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 reasonable 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 March 31,
	2020		2019
Operating lease costs	$	1,882	$	2,194
Variable lease costs (1)		10		9
Total lease costs	$	1,892	$	2,203

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

The following is a schedule of maturities of operating lease liabilities as of March 31, 2020 (dollars in thousands):


	Operating Leases
2020, excluding the quarter ended March 31, 2020	$	4,981
2021		5,385
2022		3,251
2023		2,220
2024		1,473
Thereafter		2,598
Total lease payments		19,908
Less imputed interest		(1,968)
Present value of lease liabilities		17,940

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


	March 31, 2020		December 31, 2019
Operating lease liabilities – current	$	5,823	$	6,505
Operating lease liabilities - non-current		12,117		14,110
Total	$	17,940	$	20,615

The Company determined the present value of its lease liabilities using a weighted-average discount rate of 4.25%. As of March 31, 2020, the Company’s leases have a weighted-average remaining lease term of 4.4 years.

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


	Three Months Ended March 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities	$	1,978	$	2,252
Right-of-use assets obtained in exchange for new lease liabilities (noncash)	$	144	$	26,029