We have operating leases primarily for office space, temporary residences, automobiles and office equipment. Contracts containing assets that we benefit from and control are recognized on our balance sheet. Leases with an initial term of 12 months or less are not recorded on the balance sheet. We recognized lease expense for these leases on a straight-line basis over the lease term. We combine the lease and non-lease components for all of our lease agreements.

Certain leases include one or more options to renew, with renewal terms that can extend the lease term from one to ten years. The exercise of lease renewal options is at our sole discretion, and lease renewal options are not included in our lease terms if they are not reasonably certain to be exercised. Our lease agreements do not contain any residual value guarantees or restrictive covenants or options to purchase the leased property.

Leases (In thousands)	Classification	December 31, 2019
Assets:
Operating	Other assets	$	4,338
Liabilities:
Current
Operating	Other current liabilities		501
Noncurrent
Operating	Other liabilities and deferred credits		4,274
Total lease liabilities		$	4,775

Maturity of lease liabilities (In thousands)	Operating leases
2020	$	1,315
2021		1,277
2022		1,072
2023		754
2024		311
After 2024		933
Total lease payments	$	5,662
Less: Interest		887
Present value of lease liabilities	$	4,775

As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments.

We used the incremental borrowing rate on January 1, 2019 for operating leases that began prior to that date.

		Year Ended
Lease costs (In thousands)	Classification	December 31, 2019
Operating lease costs	General and administrative		1,336
Short-term leases	General and administrative		4,840
Variable lease costs	General and administrative		313
Sublease income	General and administrative		(3	)
Net lease cost			6,486

Lease term and discount rate	December 31, 2019
Weighted average remaining lease term in years		3.7
Weighted average discount rate		7.0	%

The cash paid for operating leases included in operating cash flows and in the measurement of lease liabilities for the year ended December 31, 2019 was $1.4 million. Right-of-use assets obtained in exchange for operating lease obligations were $0.8 million, for the year ended December 31, 2019.