We have historically entered into operating leases for local branches, our corporate headquarters and certain equipment. The Company’s current leases have expiration dates through 2029. Certain of our arrangements have free rent periods and/or escalating rent payment provisions. We recognize rent expense on a straight-line basis over the lease term. Certain of the Company’s leases include termination options and renewal options for periods ranging from one to five years. Because we are not reasonably certain to exercise these renewal options, the options generally are not considered in determining the lease term, and payments associated with the option years are excluded from lease payments.

When available, we use the rate implicit in the lease to discount lease payments to present value; however, most of our leases do not provide a readily determinable implicit rate. Therefore, we must estimate our incremental borrowing rate to discount the lease payments based on information available at lease commencement.

Amounts reported in the Condensed Consolidated Balance Sheets as of September 30, 2019 for our operating leases were as follows:

	September 30, 2019
	(Amounts in Thousands)
Operating lease right of use assets, net	$	17,972

Short-term operating lease liabilities (in accrued expenses)		5,928
Long-term operating lease liabilities		12,559
Total operating lease liabilities	$	18,487

Components of lease cost were reported in general and administrative expenses in the Condensed Consolidated Statements of Income as follows:

	For the Three Months Ended September 30, 2019		For the Nine Months Ended September 30, 2019
	(Amounts in Thousands)		(Amounts in Thousands)
Operating lease costs	$	1,897	$	5,101
Short-term lease costs		222		382
Total lease cost	$	2,119	$	5,483

Weighted average remaining lease terms and discount rates for the nine months ended September 30, 2019 were as follows:

	2019
Operating leases:
Weighted average remaining lease term in years		3.58
Weighted average discount rate		5.50	%

A summary of our remaining operating lease payments as of September 30, 2019 were as follows:

	Operating Leases
	(Amounts in Thousands)
Due in the 12-month period ended September 30,
2020	$	6,598
2021		5,796
2022		3,882
2023		2,288
2024		1,251
Thereafter		663
Total future minimum rental commitments		20,478
Less: Imputed interest		(1,991	)
Total lease liabilities	$	18,487

As required by ASC 842, the future minimum operating lease payments on non-cancelable leases as of December 31, 2018 under the accounting standards in effect as of that period were as follows:

	Operating Leases
	(Amounts in Thousands)
Due in the 12-month period ended December 31,
2019	$	6,374
2020		4,820
2021		3,460
2022		2,377
2023		2,130
Thereafter		1,382
Total future minimum rental commitments	$	20,543

	For the Nine Months Ended September 30, 2019
	(Amounts in Thousands)
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,393

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	5,536

Some of our financing leases include provisions to purchase the asset at the conclusion of the lease. The treatment of these leases remains consistent and the transition does not have an impact on the accounting for these leases. Financing leases were not material as of September 30, 2019 and December 31, 2018.