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Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lease, Cost

Operating lease expense was as follows:

	For the Three Months Ended June 30,								For the Six Months Ended June 30,
	2019				2018				2019				2018
Compensation and benefits	$	130			$	117			$	260			$	233
Occupancy (1)	3,671				3,228				9,065				6,054
Communication and technology	74				75				152				162
Total operating lease expense	$	3,875			$	3,420			$	9,477			$	6,449
(1) Occupancy includes a $1.5 million charge related to the abandonment of a leased office space during the six months ended June 30, 2019, as discussed below.

Lessee, Operating Lease, Liability, Maturity

The table below presents the maturity of operating lease liabilities:

	As of June 30, 2019
2019 (excluding the six months ended June 30, 2019)	$	7,637
2020	16,210
2021	16,337
2022	14,838
2023	13,265
Thereafter	60,495
Total undiscounted lease payments	$	128,782
Adjustment to discount to present value	(23,353		)
Total operating lease liabilities	$	105,429

Lessee, Operating Lease, Disclosure

Other information related to leases was as follows:

	For the Six Months Ended June 30, 2019
Weighted average discount rate	4.7		%
Weighted average remaining lease term	8.6 years
Operating cash flows for operating leases	$	6,750

Schedule of Future Minimum Rental Payments for Operating Leases

At December 31, 2018, the aggregate future minimum payments for leases for each of the following five years and thereafter are as follows:

	As of December 31, 2018
2019	$	14,123
2020	15,340
2021	15,215
2022	13,748
2023	12,378
Thereafter	57,185
Total undiscounted lease payments	$	127,989

X

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

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-Publisher FASB
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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

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Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

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