Leases

The Company has operating leases for real estate and certain equipment. The Company leases office space in Australia, Canada, China, France, Germany, Hong Kong, Japan, Singapore, Spain, the U.K., and the U.S. under operating leases. Our leases have remaining lease terms ranging from less than one year to November 2024. Certain leases include one or more options to renew. In addition, we sublease certain real estate to a third party. All of our leases qualify as operating leases.

The following table summarizes the components of lease expense for the three and nine months ended September 30, 2019 ((in thousands):



	Three Months Ended			Nine Months Ended
	September 30, 2019			September 30, 2019
Operating lease cost	$	995		$	3,337
Short-term lease cost	45			771
Variable lease cost	329			925
Sublease income	(84		)	(252		)
Total lease cost	$	1,285		$	4,781

For the three and nine months ended September 30, 2019, cash payments against the operating lease liabilities totaled $1.5 million and $4.1 million, respectively. ROU assets obtained in exchange for lease obligations was $4.8 million and $7.6 million for three and nine months ended September 30, 2019.

The following table summarizes the presentation in our condensed consolidated balance sheets of our operating leases (in thousands):



		September 30, 2019
Assets:
	Operating lease right-of-use assets	$	17,523

Liabilities:
	Operating lease liabilities	$	7,028
	Long-term operating lease liabilities	12,291
	Total operating lease liabilities	$	19,319

Weighted average remaining lease term (years)		3.42
Weighted average discount rate		4.4		%

Maturities of lease liabilities were as follows (in thousands):



Years ending December 31,
2019 (excluding the nine months ended September 30, 2019)	$	1,902
2020	6,875
2021	5,279
2022	3,794
2023	1,924
Thereafter	1,037
Total lease payments	20,811
Less interest	(1,492		)
Present value of operating lease liabilities	$	19,319