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Leases (Tables)
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Schedule of Supplemental Information Related to Operating Leases

Supplemental information related to the Company’s operating leases is as follows (in thousands):

 

 

 

Classification in

Consolidated Statements

of Financial Condition

 

December 31, 2019

 

Assets

 

 

 

 

 

 

Operating lease right-of-use assets

 

Other assets

 

$

169,065

 

Liabilities

 

 

 

 

 

 

Operating lease liabilities

 

Accounts payable,

accrued and other

liabilities

 

$

187,398

 

Schedule of Weighted-Average Remaining Lease Term and Discount Rate

 

 

 

 

 

December 31, 2019

 

Weighted-average remaining lease term

 

 

 

 

 

 

Operating leases (years)

 

 

 

 

7.3

 

Weighted-average discount rate

 

 

 

 

 

 

Operating leases

 

 

 

 

4.9

%

 

Schedule of Components of Lease Expense

The components of lease expense are as follows (in thousands):

 

 

 

Classification in

Consolidated Statements

of Operations

 

For the Year Ended December 31, 2019

 

Operating lease cost

 

Occupancy and

equipment

 

$

47,908

 

Schedule of Maturity Analysis of Operating Lease Liabilities

As of December 31, 2019, minimum lease payments under these arrangements are as follows (in thousands):

 

 

 

Net Lease

Commitment

 

2020

 

$

30,035

 

2021

 

 

27,839

 

2022

 

 

29,205

 

2023

 

 

24,926

 

2024

 

 

19,995

 

2025 and thereafter

 

 

126,254

 

Total

 

$

258,254

 

 

The following table shows the Company’s maturity analysis of its operating lease liabilities as of December 31, 2019 (in thousands):

 

2020

 

$

30,035

 

2021

 

 

27,839

 

2022

 

 

29,205

 

2023

 

 

24,926

 

2024

 

 

19,995

 

Thereafter

 

 

126,254

 

Total

 

$

258,254

 

Interest

 

 

(70,856

)

Total

 

$

187,398

 

Schedule of Cash Flow Information Related to Lease Liabilities

The following table shows cash flow information related to lease liabilities (in thousands):

 

 

 

 

 

For the Year Ended December 31, 2019

 

Cash paid for obligations included in the measurement of

   lease liabilities

 

 

 

$

44,964

 

Schedule of Prior Lease Guidance, Undiscounted Minimum Lease Payments

Under the prior lease guidance, undiscounted minimum lease payments as of December 31, 2018 were as follows (in thousands):

 

2019

 

$

40,254

 

2020

 

 

25,510

 

2021

 

 

24,548

 

2022

 

 

28,053

 

2023

 

 

26,346

 

Thereafter

 

 

152,884

 

Total

 

$

297,595