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Leases | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
Leases | Leases The Company has operating leases for corporate offices and data centers. Excluding office leases, leases with an initial term of 12-months or less that do not include an option to purchase the underlying asset are not recorded on the consolidated balance sheet and are expensed on a straight-line basis over the lease term. The Company’s leases typically include certain renewal options to extend the leases for up to 25 years, some of which include options to terminate the leases within one year. The exercise of lease renewal options is at the Company’s sole discretion. The Company combines lease and non-lease components of its leases and currently has no leases with options to purchase the leased property. Payments of maintenance and property tax costs paid by the Company are accounted for as variable lease cost, which are expensed as incurred. The components of lease cost are as follows (in thousands):
| Year Ended December 31, 2019
Operating lease cost | $ | 18,486 |
Variable lease cost | 3,756 |
Sublease income | (528 | )
Total lease cost | $ | 21,714 |
Supplemental cash flow information related to leases is as follows (in thousands):
| Year Ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases | $ | 19,578 |
Right-of-use assets obtained in exchange for new lease obligations: |
Operating leases | $ | 10,478 |
Supplemental balance sheet information related to leases is as follows (in thousands, except lease term and discount rate):
| December 31, 2019
Assets: |
Operating lease right-of-use assets | $ | 57,382 |
Liabilities: |
Other current liabilities | $ | 15,049 |
Operating lease liabilities | 46,766 |
Total operating lease liabilities | $ | 61,815 |
Weighted average remaining operating lease term (years) | 6.58 |
Weighted average operating lease discount rate | 4.00 | %
The Company uses its incremental borrowing rate as the discount rate. As the Company enters into operating leases in multiple jurisdictions and denominated in currencies other than the U.S. dollar, judgment is used to determine the Company’s incremental borrowing rate including (1) conversion of its subordinated borrowing rate (using published yield curves) to an unsubordinated and collateralized rate, (2) adjusting the rate to align with the term of each lease, and (3) adjusting the rate to incorporate the effects of the currency in which the lease is denominated. Maturities on lease liabilities as of December 31, 2019, are as follows (in thousands):
Fiscal Year Ending December 31, |
2020 | $ | 17,180 |
2021 | 13,050 |
2022 | 10,066 |
2023 | 7,787 |
2024 | 4,951 |
Thereafter | 17,250 |
Total lease payments | 70,284 |
Less: imputed interest | 8,469 |
Total lease liability | $ | 61,815 |
Future payments under operating lease agreements accounted for under ASC 840, Leases, as of December 31, 2018, were as follows (in thousands):
Fiscal Year Ending December 31, |
2019 | $ | 16,925 |
2020 | 14,212 |
2021 | 10,538 |
2022 | 8,178 |
2023 | 6,529 |
Thereafter | 21,196 |
Total minimum lease payments | $ | 77,578 |
As of December 31, 2019, the Company has additional operating leases for office facilities that have not yet commenced with minimum lease payments of $2.1 million. These operating leases will commence in fiscal year 2020, with lease terms of one to five years.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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