Annual report pursuant to Section 13 and 15(d)

Leases

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Leases
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Leases Leases
The Company's material lease contracts are generally for corporate office space. The Company leases facilities pursuant to noncancelable operating lease agreements expiring through 2029.
Operating lease cost was approximately $4.9 million, $4.2 million, and $3.8 million, for the years ended December 31, 2019, 2018 and 2017, respectively. 

The following table is a schedule of maturities of operating lease liabilities as of December 31, 2019 (in thousands):

Twelve Month Period Ending December 31,
Operating
Lease Obligations
2020
$
5,420

2021
4,907

2022
3,898

2023
3,638

2024
842

Thereafter
2,419

Total undiscounted cash flows
21,124

Less amount representing interest
(2,321
)
Present value of lease liabilities
$
18,803



The table above reflects payments for noncancelable operating leases with initial or remaining terms of one year or more as of December 31, 2019. The table above does not include obligations for leases that have not yet commenced and does not include lease payments that were not fixed at commencement or modification.

As of December 31, 2019, the weighted-average remaining lease term (in years) and discount rate related to the operating leases were as follows:

 
December 31, 2019
Weighted-average remaining lease term
4.7

Weighted-average discount rate
4.9
%