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Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

14. Commitments and Contingencies

Contractual Obligations

The Company has entered into obligations under operating leases with initial non-cancelable terms in excess of one year for its corporate headquarters and other office facilities, financial data terminals and equipment. Expenses recorded under these agreements for the years ended December 31, 2018, 2017, and 2016 were approximately

$5,211, $4,355 and $4,293, respectively.

Future minimum lease payments with respect to non-cancelable operating leases at December 31, 2018 were approximately as follows:

2019	$	5,020
2020		4,172
2021		3,166
2022		2,958
2023 and thereafter		20,599
Total	$	35,915

Letter of Credit

The Company collateralized its U.S. office lease through a standby letter of credit totaling $1,384. The collateral is included in cash and cash equivalents on the Company’s Consolidated Balance Sheets.

Contingencies

The Company may be subject to reviews, inspections and investigations by regulatory authorities as well as legal proceedings arising in the ordinary course of business. The Company is not currently party to any litigation that is expected to have a material adverse impact on its business, financial position, results of operations or cash flows.