Leases

6 Months Ended

Jun. 30, 2020

We have entered into various operating lease agreements for automobiles, offices and manufacturing facilities throughout the world. At June 30, 2020, our operating leases had remaining lease terms of up to 40 years.

Lease balances within our consolidated balance sheet were as follows:



(In thousands)	June 30, 2020		December 31, 2019
Assets:
Operating lease right-of-use assets	$	17,854	$	19,826
Liabilities:
Other accrued liabilities	$	5,288	$	4,903
Long-term operating lease obligations	13,121		15,639
Total lease liabilities	$	18,409	$	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 June 30,				Six Months Ended June 30,
(In thousands)	2020		2019		2020		2019
Cost of sales	$	382	$	612	$	772	$	1,204
Selling, general and administrative expenses	1,020		1,156		2,018		2,288
Total operating lease expense	$	1,402	$	1,768	$	2,790	$	3,492
Operating cash outflows from operating leases	$	1,543	$	1,579	$	3,068	$	3,094
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:



	June 30, 2020		December 31, 2019
Weighted average lease liability term (in years)	3.9		4.3
Weighted average discount rate	4.42	%	4.50	%

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



(In thousands)	June 30, 2020
2020 (remaining 6 months)	$	2,852
2021	6,242
2022	5,240
2023	2,405
2024	1,344
Thereafter	2,042
Total lease payments	20,125
Less: imputed interest	(1,716		)
Total lease liabilities	$	18,409

At June 30, 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.