Operating Lease Liabilities

3 Months Ended

Mar. 31, 2020

We lease office facilities under operating lease arrangements that have remaining lease terms ranging from 3 to 7 years. Our leases do not contain any material residual value guarantees or restrictive covenants. During the three months ended March 31, 2020, operating lease costs for non-cancelable operating lease costs were $1.1 million. Variable lease costs were $0.2 million for the three months ended March 31, 2020. Sublease income for the three months ended March 31, 2020 were not material.

Under ASC 840, the previous lease standard, total rent expense under operating leases during the three months ended March 31, 2019 was $0.6 million.

A summary of supplemental lease information is as follows:



	Three Months Ended March 31, 2020
	(in thousands)
Weighted average remaining lease term (years)	4.6
Weighted average discount rate	3.8	%

Maturities of operating lease liabilities as of March 31, 2020 are as follows:



	March 31, 2020
	(in thousands)
Years ending December 31,
2020 (remaining 9 months)	$	3,391
2021	5,094
2022	5,242
2023	5,213
2024	1,799
2025 and thereafter	3,071
Total lease payments	23,810
Less: imputed interest	(2,149		)
Less: tenant allowance	(3,308		)
Total operating lease liabilities	$	18,353
Reported as:
Operating lease liabilities, current (1)	$	2,877
Operating lease liabilities, noncurrent	15,476
Total operating lease liabilities	$	18,353

^{(1) Included as part of "Accrued expenses and other current liabilities" on the condensed consolidated balance sheets.}

Future minimum lease payments, net of future sublease income of $0.2 million, under operating leases as of December 31, 2019 under ASC 840, the prior lease standard, were as follows:



	Net Minimum Lease Payments
	(in thousands)
2020	$	3,908
2021	5,055
2022	5,233
2023	5,141
2024	1,756
Thereafter	3,068
Total future minimum payments	$	24,161