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LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

SUMMARY OF LEASE EXPENSE AND RELATED CASH FLOWS

The following table presents the Company’s total lease expense and the cash flows arising from lease transactions:

		Year ended
		December 31, 2019
	Lease cost:
	Operating lease expense	$	27,549
	Short-term lease expense(1)	1,132
	Sublease income(2)	(1,144		)
	Total lease expense	$	27,537
	Other information:
	Operating cash outflows from operating leases	$	25,004
	Right-of-use assets obtained in exchange for new operating lease liabilities	$	—
	Weighted-average remaining lease term - operating leases(3)	9.0 years
	Weighted-average discount rate - operating lease(4)	4.7		%

(1) Short-term lease expense is recognized on a straight-line basis over the lease term.

(2) Sublease income largely relates to office property in London, England.

(3) Weighted-average remaining lease term was calculated on the basis of the remaining lease term and the lease liability balance for each lease at the reporting date.

(4) Weighted-average discount was calculated on the basis of the discount rate for the lease that was used to calculate the lease liability balance for each lease at the reporting date and the remaining balance of the lease payments for each lease at the reporting date.

MATURITY SCHEDULE AND MINIMUM LEASE PAYMENTS

The following table presents the scheduled maturity of the Company's operating lease liabilities at December 31, 2019:

		Expected
	Year ended December 31,	Cash Flows
	2020	$	19,225
	2021	19,129
	2022	20,049
	2023	16,641
	2024	11,006
	Later years	58,562
	Discount	(29,028		)
	Total discounted operating lease liabilities	$	115,584

SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR OPERATING LEASES

The following table presents the Company's future minimum lease payments at December 31, 2018:

	Year ended December 31,
	2019	$	28,240
	2020	25,331
	2021	27,025
	2022	28,012
	2023	23,801
	Later years	118,497
	Total future minimum lease payments	$	250,906

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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X

- References

No definition available.

+ Details

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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/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

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