8. LEASES

The Company leases retail shoe stores, as well as several office and distribution facilities worldwide. The leases have original lease periods expiring between 2020 and 2030. Many leases include one or more options to renew. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The components of the Company’s operating lease costs were as follows (dollars in thousands):


	Twelve Months Ended
	December 31, 2019
Operating lease costs	$	8,592
Variable lease costs (1)		71
Total lease costs	$	8,663

(1) Variable lease costs primarily include percentage rentals based upon sales in excess of specified amounts.

Short-term lease costs, which were excluded from the above table, are not material to the Company’s financial statements.

The following is a schedule of maturities of operating lease liabilities as of December 31, 2019 (dollars in thousands):


	Operating
	Leases
2020	$	7,269
2021		5,606
2022		3,380
2023		2,314
2024		1,526
Thereafter		2,777
Total lease payments		22,872
Less imputed interest		(2,257)
Present value of lease liabilities	$	20,615

The operating lease liabilities are classified in the 2019 consolidated balance sheet as follows (dollars in thousands):


	December 31,2019
Operating lease liabilities - current	$	6,505
Operating lease liabilities - non-current		14,110
Total	$	20,615

The Company determined the present value of its lease liabilities using a weighted-average discount rate of 4.25%. As of December 31, 2019, the Company’s leases have a weighted-average remaining lease term of 4.5 years.

Supplemental cash flow information related to the Company’s operating leases is as follows (dollars in thousands):


	Twelve Months Ended
	December 31,2019
Cash paid for amounts included in the measurement of lease liabilities	$	8,868
Right-of-use assets obtained in exchange for new lease liabilities(noncash)	$	28,263

The future minimum rental commitments under operating leases in effect as of December 31, 2018 having non-cancelable lease terms in excess of one year, as determined in accordance with Topic 840 (prior to the adoption of ASC 842), were as follows (dollars in thousands):


	Operating
	Leases
2019	$	9,468
2020		7,529
2021		5,584
2022		3,278
2023		2,321
Thereafter		4,161
Total	$	32,341