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Leases (Notes) | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
Leases | Leases We lease office space and equipment under non-cancelable operating leases. We recognize operating lease expense on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet and are expensed on a straight-line basis. Most leases include one or more options to renew, with renewal terms that can extend the lease term from six months to seven years. The exercise of lease renewal options is at our sole discretion. Certain of our lease agreements include rental payments that are adjusted periodically for inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The table below summarizes the carrying amount of our operating lease assets and liabilities:
|  |  |  | As of
Leases |  | Classification |  | December 31, 2019
Assets |  |  |  |
Operating lease assets |  | Operating lease assets |  | $ | 159,777 |
Total lease assets |  |  |  | $ | 159,777 |
Liabilities |  |  |  |
Current |  |  |  |
Operating lease liabilities |  | Accounts payable, accrued expenses and other |  | $ | 35,727 |
Noncurrent |  |  |  |
Operating lease liabilities |  | Noncurrent operating lease liabilities |  | 176,378 |
Total lease liabilities |  |  |  | $ | 212,105 |
The table below summarizes total lease costs for the year ended December 31, 2019:
| Year Ended December 31,
Lease Cost | 2019
Operating lease costs | $ | 45,144 |
Short-term lease costs | 3,173 |
Variable lease costs | 11,962 |
Sublease income | (5,015 | )
Total lease cost | $ | 55,264 |
We sublease certain of our leased office spaces to third parties. Our sublease portfolio consists of leases of office space that we have vacated before the lease term expiration. Operating lease expense on vacated office space is reduced by sublease rental income, which is recorded to selling, general and administrative (“SG&A”) expenses on the Consolidated Statements of Comprehensive Income. Our sublease arrangements do not contain renewal options or restrictive covenants. We estimate future sublease rental income to be $4.9 million in 2020, $4.5 million in 2021, $0.7 million in 2022, $0.6 million in 2023, $0.6 million in 2024 and $0.3 million in years beyond 2024. The maturity analysis below summarizes the remaining future undiscounted cash flows for our operating leases, a reconciliation to operating lease liabilities reported on the Consolidated Balance Sheets, our weighted average remaining lease term and weighted average discount rate:
| As of
| December 31, 2019
2020 | $ | 45,849 |
2021 | 51,331 |
2022 | 32,194 |
2023 | 26,896 |
2024 | 23,654 |
Thereafter | 77,162 |
Total future lease payments | 257,086 |
Less: imputed interest | (44,981 | )
Total | $ | 212,105 |
Weighted average remaining lease term (years) |
Operating leases | 6.5 |
Weighted average discount rate |
Operating leases | 5.6 | %
The table below summarizes cash paid for our operating lease liabilities and other non-cash information:
| Year Ended December 31,
| 2019
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 46,079 |
Operating lease assets obtained in exchange for lease liabilities | $ | 37,774 |
Operating Lease Commitments Under ASC 840, Leases, our future minimum payments for all operating lease obligations that have initial non-cancelable lease terms exceeding one year, net of rental income from subleases as of December 31, 2018, were as follows:
| Operating Leases |  | Sublease Rental Income
2019 | $ | 49,757 |  |  | $ | 4,760 |
2020 | 47,084 |  |  | 3,944 |
2021 | 44,480 |  |  | 3,864 |
2022 | 24,471 |  |  | 707 |
2023 | 20,309 |  |  | 614 |
Thereafter | 75,190 |  |  | 939 |
Total | $ | 261,291 |  |  | $ | 14,828 |

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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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