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Leases (Tables)
3 Months Ended
Mar. 31, 2020
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

Unaudited Condensed

Consolidated Statements

of Financial Condition

 

March 31, 2020

 

 

December 31, 2019

 

Assets

 

 

 

 

 

 

 

 

 

 

Operating lease right-of-use assets

 

Other assets

 

$

161,410

 

 

$

169,065

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities

 

Accounts payable,

accrued and other

liabilities

 

$

179,498

 

 

$

187,398

 

Schedule of Weighted-Average Remaining Lease Term and Discount Rate

 

 

 

 

March 31, 2020

 

 

December 31, 2019

 

Weighted-average remaining lease term

 

 

 

 

 

 

 

 

 

 

Operating leases (years)

 

 

 

 

7.1

 

 

 

7.3

 

Weighted-average discount rate

 

 

 

 

 

 

 

 

 

 

Operating leases

 

 

 

 

4.9

%

 

 

4.9

%

 

Schedule of Components of Lease Expense

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

 

 

 

Classification in

Unaudited Condensed

Consolidated Statements

of Operations

 

Three Months Ended March 31, 2020

 

 

Three Months Ended March 31, 2019

 

Operating lease cost

 

Occupancy and

equipment

 

$

9,866

 

 

$

12,234

 

 

Schedule of Maturity Analysis of Operating Lease Liabilities

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

 

 

March 31, 2020

 

2020 (excluding the three months ended March 31, 2020)

 

$

21,639

 

2021

 

 

28,303

 

2022

 

 

29,298

 

2023

 

 

23,990

 

2024

 

 

19,526

 

Thereafter

 

 

123,013

 

Total

 

$

245,769

 

Interest

 

 

(66,271

)

Total

 

$

179,498

 

Schedule of Cash Flow Information Related to Lease Liabilities

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

 

 

 

 

 

Three Months Ended March 31, 2020

 

 

Three Months Ended March 31, 2019

 

Cash paid for obligations included in the measurement of lease liabilities

 

 

 

$

9,088

 

 

$

11,772