Note 4.—Leases

The Company has four operating leases for office space and certain office equipment under long‑term leases expiring at various dates through 2024. During the three and six months ended June 30, 2020, cash paid for operating leases was $1.3 million and $2.7 million, respectively, while total operating lease expense was $1.0 million and $2.6 million, respectively. Operating lease expense includes short-term leases and sublease income, both of which are immaterial. During the three months ended March 31, 2020, we recognized right of use (ROU) asset impairment of $393 thousand related to the consolidation of one floor of our corporate office, reducing the carrying value of the lease asset to its estimated fair value. The impairment charge is included in general, administrative and other expense in the consolidated statements of operations and comprehensive (loss) earnings. As of June 30, 2020, the Company had no additional operating or finance leases that had not yet commenced.

The following table presents the operating lease balances within the consolidated balance sheets, weighted average remaining lease term, and weighted average discount rates related to the Company’s operating leases as of June 30, 2020:


		June 30,
Lease Assets and Liabilities	Classification	2020
Assets
Operating lease ROU assets	Other assets	$ 15,012

Liabilities
Operating lease liabilities	Other liabilities	$ 18,403

Weighted average remaining lease term (in years)		4.2
Weighted average discount rate		4.8	%

The following table presents the maturity of the Company’s operating lease liabilities as of June 30, 2020:


Year remaining 2020	$	2,486
Year 2021		4,593
Year 2022		4,721
Year 2023		4,867
Year 2024		3,729
Total lease commitments		20,396
Less: imputed interest		(1,993)
Total operating lease liability	$	18,403