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 year ended December 31, 2019 (in thousands):



	Year Ended
	December 31, 2019
Operating lease cost	$	4,768
Short-term lease cost	815
Variable lease cost	1,242
Sublease income	(336		)
Total lease cost	$	6,489

For the year ended December 31, 2019, cash payments against the operating lease liabilities totaled $5.6 million. ROU assets obtained in exchange for lease obligations was $4.1 million for the year ended December 31, 2019.

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



		As of December 31, 2019
Assets:
	Operating lease right-of-use assets	$	8,886

Liabilities:
	Operating lease liabilities	$	5,301
	Long-term operating lease liabilities	8,238
	Total operating lease liabilities	$	13,539

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,
2020	$	5,440
2021	3,790
2022	2,426
2023	1,927
2024	1,038
Thereafter	—
Total lease payments	14,621
Less interest	(1,082		)
Present value of operating lease liabilities	$	13,539