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LEASES (Tables)

9 Months Ended

Sep. 30, 2019

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 September 30, 2019, and for the three and nine months ended September 30, 2019 (dollars in thousands):



Lease Costs	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease expense	$	16,905	$	50,684
Short-term lease expense	2,605		8,022
Total lease expense	$	19,510	$	58,706



Other Lease Information	Nine Months Ended September 30, 2019
Operating cash flows from operating leases	$	49,925
Right-of-use lease assets obtained in exchange for new lease liabilities	42,387



Lease Term and Discount Rate	As of September 30, 2019
Weighted average remaining lease term (in years)⁽¹⁾	7.8
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 4.5 years.

Schedule of Maturity of Lease Liabilities

The maturity of lease liabilities as of September 30, 2019, were as follows (in thousands):



Maturity of Lease Liabilities	Operating Leases
Remaining 2019	$	16,100
2020	64,029
2021	51,773
2022	38,443
2023	27,705
Thereafter	117,921
Total lease payments	315,971
Less: Interest	(43,514		)
Present value of lease liabilities	$	272,457

Schedule of Minimum Future Lase Commitments Under Noncancelable Lease Agreements at Prior Year End

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