Leases (Tables)

3 Months Ended

Mar. 31, 2019

The following table sets forth the Company’s components of lease expense:



	Three Months Ended March 31, 2019
	(In thousands)
Operating lease costs	$	11,676
Variable lease costs⁽¹⁾	1,040
Short-term lease costs	463
Finance lease costs:
Amortization of ROU assets	566
Interest on lease liabilities	55
Total lease costs	$	13,800

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(1)	Based on payments made by the Company to lessors for the right to use an underlying asset that vary because of changes in circumstances occurring after the commencement date, other than the passage of time, such as property taxes, operating and maintenance costs.

Supplemental cash flow information and non-cash transactions related to the Company’s leases are as follows:



	March 31, 2019
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	4,671
Operating cash flows from finance leases	55
Financing cash flows from finance leases	256
ROU assets obtained in exchange for lease obligations
Operating leases	$	5,029
Finance leases	1,433

As of March 31, 2019, maturities of the Company’s lease liabilities are as follows:



	Operating Leases		Finance Leases
	(In thousands)
2019 (excluding the three months ended March 31, 2019)	$	12,804	$	1,880
2020	3,643		2,495
2021	1,140		1,658
2022	2,297		888
2023	2,345		63
Thereafter	12,801		361
Total future lease payments	$	35,030	$	7,345
Less: Imputed interest	4,288		514
Present value of future lease payments	$	30,742	$	6,831

As of March 31, 2019, maturities of the Company’s lease liabilities are as follows:



	Operating Leases		Finance Leases
	(In thousands)
2019 (excluding the three months ended March 31, 2019)	$	12,804	$	1,880
2020	3,643		2,495
2021	1,140		1,658
2022	2,297		888
2023	2,345		63
Thereafter	12,801		361
Total future lease payments	$	35,030	$	7,345
Less: Imputed interest	4,288		514
Present value of future lease payments	$	30,742	$	6,831

As of December 31, 2018, future minimum annual rental commitments under non-cancelable leases under ASC 840 were as follows:



	(In thousands)
2019	$	8,723
2020	7,009
2021	6,005
2022	5,130
2023	4,361
Thereafter	13,134
Total future minimum lease payments	$	44,362

Supplemental balance sheet information related to the Company’s leases are as follows:



	Balance Sheet Location	March 31, 2019
		(In thousands)
Assets
Operating lease assets	Operating right-of-use assets	$	24,741
Finance lease assets⁽¹⁾	Other assets	6,855
Total lease assets		$	31,596
Liabilities
Current
Operating lease liabilities	Current operating lease liabilities	$	13,135
Finance lease liabilities	Other current liabilities	2,485
Long-term
Operating lease liabilities	Operating lease liabilities	17,610
Finance lease liabilities	Other liabilities	4,530
Total lease liabilities		$	37,760

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(1)	Finance lease ROU assets are recorded net of accumulated amortization of $0.6 million as of March 31, 2019.

Weighted-average remaining lease term and discount rate for the Company’s are as follows:



	As of March 31, 2019
Operating Leases
Weighted average remaining lease term	6.3 years
Weighted average discount rate	3.9	%
Finance Leases
Weighted average remaining lease term	3.8 years
Weighted average discount rate	3.6	%