Leases

3 Months Ended

Mar. 31, 2020

We have various non-cancelable operating leases for our corporate offices in California, Colorado, Illinois, Massachusetts, Michigan, New York and Texas in the United States and Australia, Brazil, Canada, the Czech Republic, France, Germany, Japan, Singapore, Ukraine, the United Arab Emirates, and the United Kingdom. These leases expire at various times through 2028. Certain lease agreements contain renewal options, rent abatement, and escalation clauses that are factored into our determination of lease payments when appropriate.

Lease Costs

The following lease costs were included in our condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands):



	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Operating lease cost	$	2,374	$	1,422
Short-term lease cost	546		244
Variable lease cost	674		351
Total lease cost	$	3,594	$	2,017

Undiscounted Cash Flows

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of March 31, 2020 (in thousands):



Remainder of 2020	$	7,553
2021	9,662
2022	9,152
2023	7,790
2024	7,658
2025	6,851
Thereafter	8,969
Total minimum lease payments	57,635
Less imputed interest	(9,396		)
Present value of future minimum lease payments	48,239
Less current obligations under leases ⁽¹⁾	(7,670		)
Long-term lease obligations	$	40,569

(1) Included in accrued expenses and other current liabilities in our condensed consolidated balance sheets.

In addition to the leases included on our condensed consolidated balance sheet as of March 31, 2020, we have four leases that have been executed but not yet commenced as of March 31, 2020 with lease terms that range from three to eight years. As of March 31, 2020, we have either not gained access or have not begun construction for these leased assets nor do we have control of the underlying assets while under construction. We anticipate that these operating leases will commence during the year ended December 31, 2020. We expect to pay approximately $75.5 million in minimum rent payments related to these leases, $17.3 million of which will be paid over the next 24 months.