The Company leases retail shoe stores, as well as several office and distribution facilities worldwide. The leases have original lease periods expiring between 2021 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 reasonably assured at lease commencement. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.


	Three Months Ended March 31,
	2021		2020

	(Dollars in thousands)
Operating lease costs	$	1,334	$	1,882
Variable lease costs ⁽¹⁾		20		10
Total lease costs	$	1,354	$	1,892

⁽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 March 31, 2021:



		Operating Leases
		(Dollars in thousands)
2021, excluding the quarter ended March 31, 2021	$		3,310
2022			3,587
2023			2,567
2024			1,784
2025			1,117
Thereafter			1,261
Total lease payments			13,626
Less imputed interest			(1,013)
Present value of lease liabilities	$		12,613

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


	March 31, 2021		December 31, 2020

	(Dollars in thousands)
Operating lease liabilities - current	$	4,048	$	4,245
Operating lease liabilities - non-current		8,565		7,734
Total	$	12,613	$	11,979

The Company determined the present value of its lease liabilities using a weighted-average discount rate of 4.25%. As of March 31, 2021, the Company’s leases have a weighted-average remaining lease term of 3.6 years.

Supplemental cash flow information related to the Company’s operating leases is as follows:


	Three Months Ended March 31,
	2021		2020

	(Dollars in thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	1,387	$	1,978
Right-of-use assets obtained in exchange for new lease liabilities (noncash)	$	2,022	$	144