XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.19.1

Leases | 3 Months Ended
--- | ---
Mar. 31, 2019
Leases [Abstract] |
Leases | (5) Leases The Company leases office space in the United States and foreign locations under operating lease agreements. Office space is the Company’s only material underlying asset class under operating lease agreements. The Company has no material finance leases. Under the Company’s office space lease agreements, fixed payments and variable payments that depend on an index or rate are typically comprised of base rent and parking fees. Additionally, under these agreements the Company is generally responsible for certain variable payments that typically include certain taxes, utilities and maintenance costs, and other fees. These variable lease payments are generally based on the Company’s occupation or usage percentages and are subject to adjustments by the lessor. As of March 31, 2019, the Company’s ROU asset and total lease liability balances were comprised of $74.3 million and $101.6 million, respectively, for leases in the United States and $13.4 million and $14.2 million, respectively, for foreign leases. The Company’s most significant lease is for its corporate headquarters, in which it leases approximately 214,000 square feet of office space at a location in Northern Virginia. The ROU asset and total lease liability balances related to the Company’s corporate headquarters lease were $69.5 million and $96.7 million, respectively, as of March 31, 2019. The lease agreement for the Company’s corporate headquarters location is set to expire in December 2030, with an option for the Company to extend the term for an additional five or 10 consecutive years. The Company is currently not reasonably certain it will exercise this renewal option and therefore has not included the renewal option in the lease term. Several of the Company’s remaining leases also contain options for renewal or options to terminate all or a portion of the leased space. The Company continually assesses the likelihood of exercising these options and recognizes an option as part of its ROU assets and lease liabilities if and when it is reasonably certain that it will exercise the option. The following table presents the Company’s total lease cost and other lease details for the three months ended March 31, 2019 (in thousands, except years and discount rate):
Lease cost: |  |  |  |
Operating lease cost |  | $ | 3,769 |
Short-term lease cost |  |  | 814 |
Variable lease cost |  |  | 311 |
Total lease cost |  | $ | 4,894 |
Other information: |  |  |  |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 3,861 |
ROU assets obtained in exchange for new operating lease liabilities |  | $ | 1,017 |
Weighted-average remaining lease term in years – operating leases |  |  | 10.6 |
Weighted-average discount rate – operating leases |  |  | 6.0 | %
The following table presents the maturities of the Company’s operating lease liabilities as of March 31, 2019 (in thousands):
For the period ended March 31, |  |  |  |
2020 |  | $ | 15,684 |
2021 |  |  | 15,439 |
2022 |  |  | 14,909 |
2023 |  |  | 14,717 |
2024 |  |  | 14,089 |
Thereafter |  |  | 83,327 |
Total lease payments |  |  | 158,165 |
Less: imputed interest |  |  | (42,402 | )
Total |  | $ | 115,763 |
Reported as: |  |  |  |
Current operating lease liabilities |  | $ | 9,102 |
Non-current operating lease liabilities |  |  | 106,661 |
Total |  | $ | 115,763 |
The following table shows future minimum payments under noncancellable operating leases and purchase agreements with initial terms of greater than one year, based on the expected due dates of the various installments as of December 31, 2018 (in thousands), as previously reported in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, prior to the adoption of ASU 2016-02:
|  | Operating Leases |
Year |  | Amount |
2019 |  | $ | 27,768 |
2020 |  |  | 25,583 |
2021 |  |  | 18,573 |
2022 |  |  | 15,694 |
2023 |  |  | 15,607 |
Thereafter |  |  | 92,347 |
|  | $ | 195,572 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
Name: | us-gaap_LeasesOfLesseeDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration