LEASES

We have operating and finance leases for warehouses, office space, data centers, and certain equipment. Our leases have remaining lease terms of 1 year to 12 years, some of which may include options to extend the leases perpetually, and some of which may include options to terminate the leases within 1 year. We note our finance leases are immaterial to our financial statements as a whole and thus are not discussed below.

The following table provides a summary of leases by balance sheet location as of March 31, 2019 (in thousands):



	March 31, 2019
Operating right-of-use assets	$	37,262
Operating lease liability - current	5,726
Operating lease liability - non-current	36,108

The components of lease expenses for the three months ended March 31, 2019 were as follows (in thousands):



	Three months ended March 31, 2019
Operating lease cost	$	2,505
Short-term lease cost	34
Variable lease cost	528

The following tables provides a summary of other information related to leases for the three months ended March 31, 2019 (in thousands, apart from weighted-average lease term and weighted average discount rate):



	Three months ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(2,018	)
Right-of-use assets obtained in exchange for new operating lease liabilities	$	7,961
Weighted-average remaining lease term - operating leases	7.27 years
Weighted-average discount rate - operating leases	8		%

Maturity of lease liabilities under our non-cancellable operating leases as of March 31, 2019, are as follows (in thousands):



Payments due by period
2019 (Remainder)	$	6,847
2020	7,531
2021	7,694
2022	7,580
2023	6,678
Thereafter	19,571
Total lease payments	$	55,901
Less interest	(14,067		)
Present value of lease liabilities	$	41,834

As of March 31, 2019, we have an additional operating lease for office space, that has not yet commenced with future lease payments expected of $1.9 million. This operating lease will commence in the second quarter of 2019 with a lease term of 8 years.

Information for our leases for the year ended December 31, 2018 under ASC Topic 840, Leases, follows for comparative purposes.

Minimum future payments under all operating leases as of December 31, 2018, were as follows (in thousands):



Payments due by period
2019	$	8,822
2020	7,414
2021	7,654
2022	7,579
2023	6,677
Thereafter	19,571
Total lease payments	$	57,717

Our subsidiary, tZERO, commenced a new lease subsequent to December 31, 2018. We have included the future lease payments associated with this lease in the table above.