The Company leases office and research facilities and office equipment under operating leases which expire through 2028. The Company’s leases have remaining lease terms of one year to nine years, some of which may include options to extend the leases for five years or longer, and some of which may include options to terminate the leases within one year or less. Leases with an initial term of 12 months or less are not recorded; expense for these leases is recognized on a straight-line basis over the lease term. Variable lease payments are expensed as incurred and are not included within the lease liability and right-of-use assets calculation. As a practical expedient, the Company elected, for all office and facility leases, not to separate nonlease components (e.g., common-area maintenance costs) from lease components (e.g., fixed payments including rent) and instead to account for each separate lease component and its associated non-lease components as a single lease component. As most of the leases do not provide an implicit rate, the Company generally, for purposes of discounting lease payments, uses its incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date.

	Three Months Ended
	March 31, 2020		March 31, 2019
Operating lease cost ⁽¹⁾	$	2,181	$	1,951

Other information related to leases was as follows (in thousands, except lease term and discount rate):

	Three Months Ended,
	March 31, 2020		March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,638	$	1,554
ROU assets obtained in exchange for new lease liabilities:
Operating leases	$	—	$	1,045

	March 31, 2020			December 31, 2019
Weighted-average remaining lease term (years):
Operating leases		4.4			4.6
Weighted-average discount rate:
Operating leases		5.7	%		5.7	%

Future minimum lease payments and related lease liabilities as of March 31, 2020 were as follows (in thousands):

	Operating Leases
2020 (remaining 9 months)	$	4,747
2021		4,558
2022		3,259
2023		3,235
2024		2,619
Thereafter		1,977
Total lease payments		20,395
Less: imputed interest ⁽¹⁾		(2,514	)
Present value of lease liabilities:	$	17,881

Less: current obligations under leases (accrued liabilities)		5,536
Noncurrent operating lease liabilities	$	12,345

Note: Future minimum lease payments exclude short-term leases as well as payments to landlords for variable common area maintenance, insurance and real estate taxes.

As of December 31, 2019, future minimum lease payments were as follows (in thousands):

	Operating Leases
2020	$	6,387
2021		4,558
2022		3,259
2023		3,235
2024		2,619
Thereafter		1,977
Total lease payments		22,035
Less: imputed interest		(2,776	)
Present value of lease liabilities:	$	19,259

Less: current obligations under leases (accrued liabilities)		5,845
Noncurrent operating lease liabilities	$	13,414