Leases

12 Months Ended

Dec. 31, 2019

11.

LEASES

For the year ended December 31, 2019, operating lease expense was $170.5 million; variable and short-term lease expense was $33.3 million. In addition, $310.7 million of Operating lease right-of-use assets were obtained in exchange for lease obligations during the year ended December 31, 2019.

As of December 31, 2019, our total commitments related to finance leases was $11.8 million. Leases in which we sublet also do not represent a significant portion of our leasing activity.

Minimum future lease payments due in each of the next five years and thereafter, as of December 31, 2019, in accordance with ASC Topic 842, are presented in the table below.



(in millions)	ASC 842
2020	$	181.6
2021	169.5
2022	137.8
2023	113.8
2024	91.7
Thereafter	342.2
Total future minimum lease payments	$	1,036.6
Less imputed interest	132.0
Total	$	904.6

Other information related to operating leases was as follows.



	December 31, 2019
Weighted Average Remaining Lease Term	7.4 years
Weighted Average Discount Rate	3.6	%

Minimum future lease payments due in each of the next five years and thereafter, as of December 31, 2018, in accordance with ASC Topic 840, are presented in the table below.



(in millions)	ASC 840
2019	$	167.8
2020	153.1
2021	132.3
2022	99.4
2023	81.0
Thereafter	257.3
Total future minimum lease payments	$	890.9

Total rent expense, including office space and other rentals was $195.3 million and $197.3 million for the years ended December 31, 2018 and 2017, respectively.