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Lease Obligations | 3 Months Ended
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Mar. 31, 2020
Lease Obligations [Abstract] |
Lease Obligations | Note 12 – Lease Obligations The Company leases 28 of our offices under various operating lease agreements. The leases have remaining terms of one year to 13 years. The leases contain provisions for the payment by the Company of its pro-rata share of real estate taxes, insurance, common area maintenance and other variable expenses. The Company will allocate payments made under such leases between lease and non-lease components. Some leases contain renewal options and options to purchase the assets. The Company has elected not to recognize a lease liability and a right of use asset for leases with a lease term of 12 or fewer months. The following tables present certain information related to the Company’s adoption of ASU 2016-02, Leases, (in thousands):
|  | Three Months Ended March 31, 2020 |  |  | Three Months Ended March 31, 2019
Operating lease cost | $ | 854 |  | $ | 750
Variable lease cost-operating leases | $ | 202 |  | $ | 132
|  | At March 31, 2020 |  |  | At December 31, 2019
Supplemental balance sheet information related to leases: |  |  |  |  |
Operating Leases |  |  |  |  |
Operating lease right-of-use assets | $ | 14,084 |  | $ | 13,246
Current liabilities | $ | 2,816 |  | $ | 2,590
Operating lease liabilities (noncurrent portion) |  | 11,430 |  |  | 10,790
Total operating lease liabilities | $ | 14,246 |  | $ | 13,380
The following tables summarize the Company’s weighted average remaining lease terms and weighted average discount rates:
Weighted Average Remaining Lease Term | Operating Leases |  | Operating Leases |
Operating leases | 6.81 | years | 6.69 | years
Weighted Average Discount Rate |  |  |  |
Operating leases | 3.08 | % | 3.16 | %
The following table summarizes the Company’s maturity of lease obligations for operating and finance leases at March 31, 2020 and December 31, 2019. (in thousands):
Maturities of lease liabilities:
|  | At March 31, 2020 |  |  | At December 31, 2019
|  | Operating Leases |  |  | Operating Leases
One year or less | $ | 2,816 |  | $ | 2,590
Over one year through three years |  | 4,746 |  |  | 4,713
Over three years through five years |  | 2,800 |  |  | 2,736
Over five years |  | 3,884 |  |  | 3,341
Total | $ | 14,246 |  | $ | 13,380

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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