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LEASES (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Schedule of Lease Expense, Remaining Lease Terms, Discount Rate and Other Information

Information regarding lease expense, remaining lease term, discount rate and other select lease information is presented below as of and for the three months ended March 31, 2019 (dollars in thousands):

Lease Costs		Three Months Ended March 31, 2019
Operating lease expense		$	16,822
Short-term lease expense		2,341
Total lease expense		19,163
Other Lease Information		Three Months Ended March 31, 2019
Operating cash flows from operating leases		$	16,629
Right-of-use lease assets obtained in exchange for new lease liabilities		7,732
Lease Term and Discount Rate		As of March 31, 2019
Weighted average remaining lease term (in years)(1)		7.9
Weighted average discount rate		3.6		%

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⁽¹⁾ The weighted average remaining lease term is significantly impacted by a 15 year lease related to office space in Chicago, IL that commenced in 2018. Excluding this lease the weighted average remaining lease term of our agreements is 4.1 years.

Schedule of Maturity of Lease Liabilities

The maturity of lease liabilities as of March 31, 2019 were as follows (in thousands):

Maturity of Lease Liabilities		Operating Leases
Remaining 2019		$	47,221
2020		57,086
2021		44,737
2022		32,178
2023		22,851
Thereafter		103,621
Total lease payments		307,694
Less: Interest		(42,956		)
Present value of lease liabilities		$	264,738

Schedule of Minimum Future Lase Commitments Under Noncancelable Lease Agreements

Minimum future lease commitments under noncancelable lease agreements in excess of one year as of December 31, 2018, are as follows (in thousands):

2019		$	53,675
2020		47,680
2021		36,832
2022		27,644
2023		19,406
Thereafter		81,465
Total lease payments		$	266,702

X

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980

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- References

No definition available.

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X

- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980

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X

- Definition

Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717

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