During the three months ended March 31, 2020 and 2019, we had operating lease costs of $80,402 and $77,350, respectively, and variable lease costs of $17,444 and $17,084, respectively, which are recorded in direct advertising expenses (exclusive of depreciation and amortization). Also, for the three months ended March 31, 2020 and 2019, we recorded a loss of $51 and a gain of $4,104, respectively, in (gain) loss of disposition of assets related to the amendment and termination of lease agreements. Cash payments of $103,063 and $96,733 were made reducing our operating lease liabilities for the three months ended March 31, 2020 and 2019, respectively, and are included in cash flows provided by operating activities in the Condensed Consolidated Statements of Cash Flows.

We elected the short-term lease exemption which applies to certain of our vehicle agreements. This election allows the Company to not recognize lease right of use assets (ROU assets) or lease liabilities for agreements with a term of twelve months or less. We recorded $1,258 and $1,129 in direct advertising expenses (exclusive of depreciation and amortization) for these agreements during the three months ended March 31, 2020 and 2019, respectively.

Our operating leases have a weighted-average remaining lease term of 12.0 years. The weighted-average discount rate of our operating leases is 4.8%. Also, during the periods ended March 31, 2020 and 2019, we obtained $5,082 and $4,391, respectively, of leased assets in exchange for new operating lease liabilities, which includes liabilities obtained through acquisitions.

The following is a summary of the maturities of our operating lease liabilities as of March 31, 2020:

2020	$	171,468
2021		201,850
2022		181,729
2023		159,181
2024		141,917
Thereafter		849,478
Total undiscounted operating lease payments		1,705,623
Less: Imputed interest		(461,631	)
Total operating lease liabilities	$	1,243,992