The maturity schedule of future minimum lease payments under operating leases and the reconciliation to the operating lease liabilities reported on the Consolidated Balance Sheets was as follows:


	December 31, 2019

	(In thousands)
2020	$	13,573
2021	13,071
2022	11,970
2023	8,487
2024	7,961
Thereafter	19,768
Total operating lease payments	74,830
Present value adjustment	(14,103)
Total operating lease liabilities ⁽¹⁾	$	60,727

⁽¹⁾ Amount consists of a current and long-term portion of operating lease liabilities of $10.1 million and $50.7 million, respectively. The short-term portion of the operating lease liabilities is included in accrued liabilities in the Consolidated Balance Sheets.

Prior to the adoption of the new lease accounting standard, the maturity schedule of future minimum lease payments under operating leases was as follows:


	December 31, 2018

	(In thousands)
2019	$	14,153
2020	13,104
2021	12,729
2022	11,809
2023	8,334
Thereafter	27,289
Total minimum future lease payments	$	87,418

Operating lease costs were $14.6 million for the year ended December 31, 2019. Short-term lease costs and variable lease costs were immaterial for the year ended December 31, 2019.

Prior to the adoption of the new lease accounting standard, rent expense was $12.7 million and $11.5 million for the years ended December 31, 2018 and 2017.

The following table summarizes supplemental cash flow information related to the Company’s operating leases for the year ended December 31, 2019:


	Year Ended December 31, 2019

	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	14,636
Right-of-use assets obtained in exchange for new lease liabilities	$	1,204

The following table summarizes the weighted-average remaining lease term and weighted-average discount rate related to the Company’s operating leases as of December 31, 2019:


	December 31, 2019

	(In thousands)
Weighted-average remaining lease term, years	6.4
Weighted-average discount rate, %	6.4	%