Leases

We have entered into various operating lease agreements for automobiles, offices and manufacturing facilities throughout the world. At June 30, 2019, our operating leases had remaining lease terms of up to 42 years.

Lease balances within our consolidated balance sheet were as follows:



(In thousands)	June 30, 2019
Assets:
Operating lease right-of-use assets	$	20,306
Liabilities:
Other accrued liabilities	$	4,158
Long-term operating lease obligations	16,403
Total lease liabilities	$	20,561

Operating lease expense, including short-term and variable lease costs, which are insignificant to the total, and operating lease cash flows and supplemental cash flow information were as follows:



(In thousands)	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Cost of sales	$	612	$	1,204
Selling, general and administrative expenses	1,156		2,288
Total operating lease expense	$	1,768	$	3,492
Operating cash outflows from operating leases	$	1,579	$	3,094
Operating lease right-of-use assets obtained in exchange for lease obligations	$	—	$	1,524

The weighted average remaining lease term and the weighted average discount rate were as follows:



	June 30, 2019
Weighted average lease term (in years)	9.10
Weighted average discount rate	4.76	%

The following table reconciles the undiscounted cash flows for each of the first five years and thereafter to the operating lease liabilities recognized in our consolidated balance sheet at June 30, 2019. The reconciliation excludes short-term leases that are not recorded on the balance sheet.



(In thousands)	June 30, 2019
2019 (remaining 6 months)	$	2,413
2020	5,111
2021	5,266
2022	4,429
2023	2,358
Thereafter	3,396
Total lease payments	22,973
Less: imputed interest	(2,412		)
Total lease liabilities	$	20,561

As of June 30, 2019, we have two operating leases that have not yet commenced with the total initial lease liability of approximately $2.6 million with three and five-year terms, which are not reflected within the maturity schedule above.