Leases

As of

March 31, 2019,

we had various obligations remaining under operating lease arrangements related primarily to the rental of maintenance and support facilities, cross-dock and delivery system facilities, office space, parking yards and equipment. Many of these leases include

one

or more options, at our discretion, to renew and extend the agreement beyond the current lease expiration date or to terminate the agreement prior to the lease expiration date. These options are included in the calculation of our operating lease liability when it becomes reasonably certain the option will be exercised. Our lease obligations typically do

not

include options to purchase the leased property, nor do they contain residual value guarantees or material restrictive covenants. Operating leases with an initial term of more than

months are included in our Condensed Consolidated Balance Sheets as discounted liabilities and corresponding right-of-use assets consisting of the following (in millions):

	Asset/(Liability) Balance
	March 31, 2019
Right-of-use assets	$	117.5
Lease liabilities, current	$	(38.5	)
Lease liabilities, long-term	$	(78.2	)

Right-of-use assets are classified in other assets in our Condensed Consolidated Balance Sheets. Operating lease liability, current is classified in other accrued expenses, while operating lease liability, long-term is classified in other long-term liabilities in our Condensed Consolidated Balance Sheets.

As of

March 31, 2019,

the weighted-average remaining lease term for our outstanding operating lease obligations was

4.4

years and the weighted-average discount rate was

3.5%.

Future minimum lease payments under these operating leases as of

March 31, 2019,

are as follows (in millions):

Year one	$	38.4
Year two		32.9
Year three		22.9
Year four		15.0
Year five		7.2
Thereafter		9.7
Total lease payments		126.1
Less interest		(9.4	)
Present value of lease liabilities	$	116.7

During the

three

months ended

March 31, 2019,

cash paid for amounts included in the measurement of operating lease liabilities was

$9.6

million, while

$9.4

million of operating lease expense was recognized on a straight-line basis. In addition, a total of

$23.7

million of right-of-use assets were obtained during the

first

quarter

2019,

in exchange for new operating lease liabilities, of which,

$16.0

million were obtained through the business combination discussed at Note

11,

Acquisitions.