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LEASES (Tables) | 12 Months Ended
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Dec. 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 December 31, 2019, and for the twelve months ended December 31, 2019 (dollars in thousands):
Lease Costs |  | Twelve Months Ended December 31, 2019 |  |
Operating lease expense |  | $ | 68,489 |  |  |
Short-term lease expense |  | 11,440 |  |  |
Total lease expense |  | $ | 79,929 |  |  |
Other Lease Information | Twelve Months Ended December 31, 2019 |
Operating cash outflows from operating leases | $ | 66,489 |
Right-of-use lease assets obtained in exchange for new lease liabilities(1) | 101,966 |
________________________________ (1) The company obtained approximately $35.5 million of right-of-use lease assets in exchange for new lease liabilities related to a warehouse lease in Australia in the fourth quarter of 2019.
Lease Term and Discount Rate | As of December 31, 2019
Weighted average remaining lease term (in years)(1) | 7.8
Weighted average discount rate | 3.4% |
________________________________ (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 5.2 years.
Schedule of Maturity of Lease Liabilities | The maturity of lease liabilities as of December 31, 2019, were as follows (in thousands):
Maturity of Lease Liabilities |  | Operating Leases
2020 |  | $ | 70,995 |
2021 |  | 60,839 |
2022 |  | 49,717 |
2023 |  | 36,722 |
2024 |  | 25,457 |
Thereafter |  | 125,163 |
Total lease payments |  | 368,893 |
Less: Interest |  | (48,169) |
Present value of lease liabilities |  | $ | 320,724 |
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 |

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- 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 + Details
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- 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 + Details
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- 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/otherTransitionRef -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 + Details
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