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Leases

12 Months Ended

Dec. 31, 2020

11. LEASES

For the years ended December 31, 2020 and 2019, operating lease expense was $187.3 million and $170.5 million, respectively, and variable and short-term lease expense was $36.0 million and $33.3 million, respectively. In addition, $94.3 million and $310.7 million of Operating lease right-of-use assets were obtained in exchange for lease obligations during the years ended December 31, 2020 and 2019, respectively.

As of December 31, 2020, our total commitments related to finance leases was $13.7 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, 2020, are presented in the table below.


(in millions)
2021	$	191.6
2022	156.4
2023	127.9
2024	107.7
2025	85.7
Thereafter	293.7
Total future minimum lease payments	$	963.0
Less imputed interest	113.4
Total	$	849.6

Other information related to operating leases was as follows.


	December 31, 2020
Weighted average remaining lease term	7.1 years
Weighted average discount rate	3.5	%

Total rent expense, including office space and other rentals was $195.3 million for the year ended December 31, 2018, in accordance with ASC Topic 840.