Lease Commitments

9 Months Ended

Sep. 30, 2019

The Company is the lessee in various noncancellable operating leases for land, buildings, and equipment. Certain leases contain provisions for variable lease payments that are linked to the consumer price index. Lease cost for the three and nine months ended September 30, 2019 consists of:



(In thousands)	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Operating lease cost	$	1,385		$	4,174
Variable lease cost	305			901
Short-term lease cost	154			574
Sublease income	(179		)	(440		)
Total lease cost	$	1,665		$	5,209

The following table provides supplemental information related to leases as of and for the nine months ended September 30, 2019:



(In thousands, except for weighted average data)	September 30, 2019
Operating lease right-of-use assets	$	26,355
Operating lease liabilities	30,381
Cash paid for amounts included in the measurement of operating lease liabilities	4,445
Right-of-use assets obtained in exchange for new operating lease obligations	353
Weighted average remaining lease term for operating leases	9 years
Weighted average discount rate for operating leases	4.71		%

The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If, at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company includes the extended term in the calculation of the lease liability. Maturities of lease liabilities as of September 30, 2019 are as follows:



Twelve Months Ended September 30,	(In thousands)
2020	$	5,765
2021	4,768
2022	4,493
2023	3,601
2024	3,542
Thereafter	15,360
Total undiscounted cash flows	37,529
Less: Net present value adjustment	(7,148		)
Total	$	30,381