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Leases (Notes) | 3 Months Ended
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Mar. 31, 2020
Leases [Abstract] |
Leases Disclosure | 3. Leases The Company has operating leases for corporate offices, branch offices and data centers. The Company's leases have remaining lease terms of one month to seven years. At the inception of a contract, the Company determines if the contract contains a lease. A contract contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Operating lease right of use ("ROU") assets and operating lease liabilities are recognized at the lease commencement date, based on the present value of the future minimum lease payments. Since most of the Company’s leases do not provide an implicit rate of return, the Company uses its incremental borrowing rate (“IBR”) in determining the present value of lease payments. In determining the IBR, the Company considers its credit rating and the current market interest rates. The IBR approximates the interest rate the Company would pay on collateralized debt with similar terms and payments as the lease agreements and in a similar economic environment where the leased assets are located. Components of lease expense were as follows (in millions):
|  | Three Months Ended
|  | March 31, 2020 |  | March 31, 2019
Operating lease expense |  | $ | 8.2 |  |  | $ | 7.9 |
Short-term lease expense |  | 1.9 |  |  | 0.4 |
Variable lease expense |  | 2.4 |  |  | 1.1 |
Total lease expense |  | $ | 12.5 |  |  | $ | 9.4 |
The Company leases two properties owned indirectly by certain board members and an executive of the Company. Rent expense for these two properties was $0.2 million and $0.3 million for the three months ended March 31, 2020 and 2019, respectively. Supplemental cash flow information related to leases for the three months ended March 31, 2020 (in millions):
Cash paid for operating lease liabilities |  | $ | 8.4 |
Operating lease right of use assets obtained in exchange for new operating lease liabilities |  | $ | 8.5 |
Weighted-average remaining lease term of operating leases |  | 4.1 years |
Weighted-average discount rate of operating leases |  | 4.1 | %
Maturities of operating lease liabilities as of March 31, 2020 (in millions):
Remainder of 2020 |  | $ | 22.7 |
2021 |  | 30.2 |
2022 |  | 24.0 |
2023 |  | 17.6 |
2024 |  | 10.7 |
Thereafter |  | 5.9 |
Total future minimum lease payments |  | 111.1 |
Less imputed interest |  | (9.0 | )
Total operating lease liabilities |  | $ | 102.1 |
As of March 31, 2020, the Company has additional operating leases that have not yet commenced, with total future lease payments of approximately $2.6 million. These operating leases will commence in 2020 with lease terms of approximately 4.6 years.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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