COMMITMENTS AND CONTINGENCIES Leases The Company leases office space and certain equipment under noncancelable operating leases. Leases have terms which range from one year to nine years, some of which include options to renew the lease. The exercise of a lease renewal option is at the Companys sole discretion and is included in the lease term when it is reasonably certain the Company will exercise the option based on economic factors. The weighted average remaining lease term for operating leases as of December 31, 2019 was 3.5 years. The operating lease cost for the years ended December 31, 2019, 2018 and 2017 was approximately $5.8 million, $5.3 million and $5.1 million, respectively. Operating lease cost includes short-term and variable lease cost, which are not significant. The aggregate future lease payments for operating leases as of December 31, 2019 and December 31, 2018 (which is under previous accounting standards), are as follows (in thousands): 2019 2018 Fiscal Year 2020 $ 4,139 $ 4,673 2021 3,181 3,403 2022 2,598 2,604 2023 1,157 2,082 2024 613 698 Thereafter 248 690 Total minimum lease payments 11,936 14,150 Less: interest (787) N/A Total lease liabilities $ 11,149 N/A Other information related to operating leases is as follows (in thousands): 2019 Weighted-average discount rate 3.7 % Supplement cash flow information Cash paid for amounts included in the measurement of lease liabilities $ 4,483 Right of use assets obtained in exchange for new lease liabilities (1) $ 15,280 (1) Includes $12.6 million for operating leases existing on January 1, 2019 and $2.7 million for operating leases that commenced in 2019. Litigation From time to time, the Company is involved in legal proceedings and litigation arising in the ordinary course of business. However, the Company is not currently a party to any material legal proceedings.