
	For the Three Months Ended
	March 31,
	2020		2019
	(In thousands)
Operating lease cost (1)	$	17,731	$	81,070

Short-term lease cost (2)		2,667		2,484

Finance lease cost:
Amortization of right-of-use assets		17,904		6,108
Interest on lease liabilities		5,813		1,181
Total finance lease cost		23,717		7,289
Total lease costs	$	44,115	$	90,843

(1)

Pursuant to the Master Transaction Agreement, effective September 10, 2019, approximately $495 million of previously reported operating lease assets and the related liabilities for satellites and real estate assets were transferred to us. See Note 13 for further information. These satellite and real estate assets are no longer included in “Operating lease assets,” “Other current liabilities” and “Operating lease liabilities,” but rather in “Property and equipment, net” on our Condensed Consolidated Balance Sheets. Lease expense related to these satellites and real estate assets for the three months ended March 31, 2019 was $67 million.

(2)

Leases that have terms of 12 months or less.

Summary of supplemental balance sheet information related to leases


	As of
	March 31,		December 31,
	2020		2019
	(In thousands)
Operating Leases:
Operating lease assets (1)	$	116,282	$	144,330

Other current liabilities	$	58,386	$	57,910
Operating lease liabilities		82,904		84,795
Total operating lease liabilities	$	141,290	$	142,705

Finance Leases:
Property and equipment, gross	$	890,598	$	890,598
Accumulated depreciation		(701,174)		(683,271)
Property and equipment, net	$	189,424	$	207,327

Other current liabilities	$	62,965	$	61,493
Other long-term liabilities		154,782		171,706
Total finance lease liabilities	$	217,747	$	233,199

Weighted Average Remaining Lease Term:
Operating leases		3.0 years		3.1 years
Finance leases		3.6 years		3.8 years

Weighted Average Discount Rate:
Operating leases		4.8%		5.0%
Finance leases		10.2%		10.2%

(1)

During the three months ended March 31, 2020, we impaired the operating lease assets related to the narrowband IoT deployment that will not be utilized in our 5G Network Deployment, resulting in a $27 million non-cash impairment charge in “Impairment of long-lived assets” on our Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). See Note 2 for further information.

Summary of maturities of finance lease liabilities

Maturities of lease liabilities as of March 31, 2020 were as follows:


	Maturities of Lease Liabilities
	Operating		Finance
For the Years Ending December 31,	Leases		Leases		Total
	(In thousands)
2020 (remaining nine months)	$	49,013	$	59,686	$	108,699
2021		52,157		82,609		134,766
2022		27,307		48,307		75,614
2023		11,535		40,942		52,477
2024		7,628		30,707		38,335
Thereafter		3,167		—		3,167
Total lease payments		150,807		262,251		413,058
Less: Imputed interest		(9,517)		(44,504)		(54,021)
Total		141,290		217,747		359,037
Less: Current portion		(58,386)		(62,965)		(121,351)
Long-term portion of lease obligations	$	82,904	$	154,782	$	237,686