COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Leases

The Company leases office space and certain equipment under noncancelable operating leases. Leases have terms which range from one year to nine years, some of which include options to renew the lease. The exercise of a lease renewal option is at the Company’s sole discretion and is included in the lease term when it is reasonably certain the Company will exercise the option based on economic factors. The weighted average remaining lease term for operating leases as of December 31, 2019 was 3.5 years.

The operating lease cost for the years ended December 31, 2019, 2018 and 2017 was approximately $5.8 million, $5.3 million and $5.1 million, respectively. Operating lease cost includes short-term and variable lease cost, which are not significant. The aggregate future lease payments for operating leases as of December 31, 2019 and December 31, 2018 (which is under previous accounting standards), are as follows (in thousands):


	2019		2018
Fiscal Year
2020	$	4,139	$	4,673
2021	3,181		3,403
2022	2,598		2,604
2023	1,157		2,082
2024	613		698
Thereafter	248		690
Total minimum lease payments	11,936		14,150
Less: interest	(787)		N/A
Total lease liabilities	$	11,149	N/A

Other information related to operating leases is as follows (in thousands):


	2019
Weighted-average discount rate	3.7		%

Supplement cash flow information
Cash paid for amounts included in the measurement of lease liabilities	$	4,483
Right of use assets obtained in exchange for new lease liabilities⁽¹⁾	$	15,280

(1) Includes $12.6 million for operating leases existing on January 1, 2019 and $2.7 million for operating leases that commenced in 2019.

Litigation

From time to time, the Company is involved in legal proceedings and litigation arising in the ordinary course of business. However, the Company is not currently a party to any material legal proceedings.