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Leases
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Leases

Note 16. LEASES

 

We determine if a contract is a lease at inception. We have leases for office space and facilities, automobiles and certain information technology equipment. All of our leases are classified as operating leases and the majority of which are for office space and facilities.

 

Balance sheet information related to the Company’s leases as of December 31, 2019 was as follows (in thousands):

 

 

 

December 31, 2019

 

Operating lease ROU assets

 

$

140,831

 

Current portion of operating lease liabilities

 

 

29,030

 

Noncurrent portion of operating lease liabilities

 

 

132,018

 

Total operating lease liabilities

 

$

161,048

 

 

 

 

December 31, 2019

Weighted-average remaining lease term

 

6.9 years

Weighted-average discount rate

 

3.6%

 

The components of lease cost and other lease information as of and during the year ended December 31, 2019 are as follows (in thousands):

 

 

 

December 31, 2019

 

Operating lease cost

 

$

37,275

 

Cash paid for amounts included in measurement of lease liabilities

 

 

 

 

Operating cash flows for operating leases

 

$

37,667

 

 

Our leases have remaining lease terms ranging from 1 to 11 years. These leases generally contain renewal options for periods ranging from two to five years. Because the Company is not reasonably certain to exercise these renewal options, the options are not included in the lease term, and associated potential option payments are excluded from lease payments.  Lease expense, as accounted for under Legacy ASC Topic 840, was $38.0 million and $38.4 million for the years ended December 31, 2018 and 2017, respectively.

 

 

Maturities of operating lease liabilities at December 31, 2019 and minimum cash commitments under operating leases at December 31, 2018 were as follows (in thousands):

 

 

 

December 31, 2019

 

2020

 

$

34,775

 

2021

 

 

32,371

 

2022

 

 

26,112

 

2023

 

 

24,273

 

2024

 

 

21,578

 

Thereafter

 

 

67,025

 

Total undiscounted lease payments

 

 

206,134

 

Less: imputed interest

 

 

(45,086

)

Total lease liabilities

 

$

161,048

 

 

 

 

 

December 31, 2018

 

2019

 

$

34,256

 

2020

 

 

30,419

 

2021

 

 

26,172

 

2022

 

 

20,358

 

2023

 

 

18,981

 

Thereafter

 

 

65,854

 

Total future minimum rental commitments

 

$

196,040