We enter into a variety of arrangements in which we are the lessee for the use of automobiles, forklifts and other production equipment, production facilities, warehouses and office space. We determine if an arrangement contains a lease at inception. All our lease arrangements are operating leases and are recorded in the condensed consolidated balance sheet under the caption “Other assets” and the lease obligation is under “Other current liabilities” and “Other long-term liabilities.” We currently do not have any finance leases.

Operating lease right of use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. ROU assets also include any initial direct costs incurred and any lease payments made at or before the lease commencement date, less lease incentives received. We use our incremental borrowing rate based on information available at the commencement date in determining the lease liabilities as our leases generally do not provide an implicit rate. Lease terms may include options to extend or terminate when we are reasonably certain that the option will be exercised. Lease expense is recognized on a straight-line basis over the lease term.

The following table sets forth information related to our leases as of the periods indicated.

	March 31			December 31
in thousands	2020			2019
Right of use asset	$	15,240		$	11,701
Weighted average discount rate		3.31	%		2.92	%
Weighted average remaining maturity (months)		66			34

	Three months ended March 31
	2020			2019
Operating lease expense	$	1,442		$	1,606

The following table sets forth required future minimum lease payments for the years indicated:

In thousands
2020	$	3,553
2021		4,076
2022		2,641
2023		1,343
2024		939
Thereafter		4,218