NOTE 9. LEASES

The Company has recorded eight operating leases for corporate offices and for certain restaurant properties that are in the process of being refranchised. The Company is not a guarantor to the leases for the restaurant locations. The leases have remaining lease terms ranging from four months to 7.5 years. Five of the leases also have options to extend the term for 5 to 10 years. The Company recognized lease expense of $352,000 and $347,000 for the thirteen weeks ended March 29, 2020 and March 31, 2019, respectively. The weighted average remaining lease term of the operating leases (not including optional lease extensions) at March 29, 2020 was 5.7 years.

Operating lease right of use assets and operating lease liabilities relating to the operating leases are as follows (in thousands):

The operating lease right of use assets and operating lease liabilities include obligations relating to the optional term extensions available on the five restaurant leases based on management’s intention to exercise the options. At adoption of ASC 842, the discount rate used to calculate the carrying value of the right of use assets and lease liabilities was 15.9% as this was consistent with our incremental borrowing rate at the time.

The contractual future maturities of the Company’s operating lease liabilities as of March 29, 2020, including anticipated lease extensions, are as follows (in thousands):

Supplemental cash flow information for the fiscal year ended March 29, 2020 related to leases is as follows (in thousands):