The Company leases land, office facilities, office equipment, and vehicles for use in its operations, which are accounted for as operating leases. Leases with a term of 12 months or less are not recorded on the balance sheet; rather, lease expense is recognized over the lease term. Our leases have remaining lives of 1 year to 75 years.

Some of the Company’s leases can be extended on a month-to-month basis, which allow us to terminate the lease at any given month without penalty while others include options to extend the leases for up to 50 years. The renewal of a month-to-month lease is at our sole discretion.

The Company accounts for lease and non-lease components of lease arrangements separately. For calculating lease liabilities, we may deem lease terms to include options to extend or terminate the lease when it’s reasonably certain that we will exercise that option. The Company’s lease agreements do not contain significant residual value guarantees, restrictions or covenants.

Lease liabilities and corresponding right-of-use assets are recorded based on the present value of the lease payments over the expected lease term, including leases with variable payments that are based on a market rate or an index. All other variable payments are expensed as incurred. Since the Company’s lease agreements do not provide an implicit interest rate, we utilize our incremental borrowing rate to determine the discount rate used to present value the lease payments.


	Years Ended December 31,
	2019		2018		2017
Components of lease expense were as follows:
Operating lease cost	$	2,183	$	2,569	$	2,241


	Year Ended December 31, 2019
Supplemental cash flow information related to leases was as follows:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,992



	December 31, 2019
Supplemental balance sheet information related to leases was as follows:
Operating leases:
Operating lease right-of-use assets	$	12,867

Other accrued liabilities	$	1,222
Operating lease liabilities		11,645
Total operating lease liabilities	$	12,867



	December 31, 2019
Weighted average remaining lease term:
Operating leases	27 years

Weighted average discount rate:
Operating leases		4.08%

Maturities of operating lease liabilities and a reconciliation of the operating lease liabilities reported on our Consolidated Balance Sheets as of December 31, 2019 are as follows:


	Operating Leases
2020	$	1,699
2021		1,462
2022		1,219
2023		771
2024		609
Thereafter		15,836
Total operating lease payments	$	21,596

Total operating lease payments	$	21,596
Less operating lease liabilities		12,867
Present value adjustment	$	8,729