Leases

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

Leases

We have entered into various operating lease agreements for automobiles, offices and manufacturing facilities throughout the world. At March 31, 2020, our operating leases had remaining lease terms of up to 41 years.

Lease balances within our consolidated balance sheet were as follows:

(In thousands)	March 31, 2020		December 31, 2019
Assets:
Operating lease right-of-use assets	$	18,359	$	19,826
Liabilities:
Other accrued liabilities	$	5,030	$	4,903
Long-term operating lease obligations	14,069		15,639
Total lease liabilities	$	19,099	$	20,542

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

(In thousands)	Three Months Ended March 31,
	2020		2019
Cost of sales	$	390	$	592
Selling, general and administrative expenses	998		1,384
Total operating lease expense	$	1,388	$	1,976
Operating cash outflows from operating leases	$	1,525	$	1,767
Operating lease right-of-use assets obtained in exchange for lease obligations	$	186	$	1,524

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

	March 31, 2020
Weighted average lease liability term (in years)	4.10
Weighted average discount rate	4.51	%

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 March 31, 2020. The reconciliation excludes short-term leases that are not recorded on the balance sheet.

(In thousands)	March 31, 2020
2020 (remaining 9 months)	$	4,419
2021	6,256
2022	5,250
2023	2,399
2024	1,343
Thereafter	2,040
Total lease payments	21,707
Less: imputed interest	(2,608		)
Total lease liabilities	$	19,099

At March 31, 2020, we had one operating lease with a five-year term that had not yet commenced. The total initial lease liability of approximately $1.6 million is not reflected within the above maturity schedule.