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Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases | NOTE 7 – LEASES The Company has operating leases for facilities and equipment which have remaining terms ranging from 1 to 13 years. The leases may include options to extend the lease periods for up to 5 years at rates approximating market rates and/or options to terminate the leases within 1 year. The leases may include a residual value guarantee or a responsibility to return the property to its original state of use. A limited number of leases contain provisions that provide for rental increases based on consumer price indices. The change in rent expense resulting from changes in these indices are included within variable rent. Operating leases consisted of the following at December 31, 2020:
|  | December 31, 2020 |
Real estate facilities |  | $ | 157,010 |
Office equipment |  |  | 1,864 |
Other |  |  | 580 |
|  |  | 159,454 |
Amortization of right-of-use assets |  |  | (32,322 | )
Total operating lease right-of-use assets |  | $ | 127,132 |
Rent expense is recognized on a straight-line basis over the lease term. Rent expense consists of the following:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |
Operating lease costs |  | $ | 37,874 |  |  | $ | 36,210 |
Short-term lease costs |  |  | 1,421 |  |  |  | 2,153 |
Variable lease costs |  |  | 53 |  |  |  | 77 |
Total rent expense |  | $ | 39,348 |  |  | $ | 38,440 |
Future minimum lease payments under non-cancellable leases as of December 31, 2020 were as follows:
|  |  |  |  |  | December 31, 2020 |
December 31, 2021 |  |  |  |  |  | $ | 27,417 |
December 31, 2022 |  |  |  |  |  |  | 38,691 |
December 31, 2023 |  |  |  |  |  |  | 20,835 |
December 31, 2024 |  |  |  |  |  |  | 17,208 |
December 31, 2025 |  |  |  |  |  |  | 13,603 |
Thereafter |  |  |  |  |  |  | 37,314 |
Total future minimum lease payments |  |  |  |  |  |  | 155,068 |
Less: Interest |  |  |  |  |  |  | (16,104 | )
Total operating lease liabilities |  |  |  |  |  | $ | 138,964 |
|  | December 31, 2020 |  |  | December 31, 2019 |
Operating lease liabilities - current |  | $ | 23,350 |  |  | $ | 32,500 |
Operating lease liabilities - non-current |  |  | 115,614 |  |  |  | 119,250 |
Total operating lease liabilities |  | $ | 138,964 |  |  | $ | 151,750 |
Other information related to operating leases is as follows:
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 41,025 |  |  | $ | 36,907 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | 29,790 |  |  | $ | 31,123 |
Weighted-average remaining lease term - operating leases |  |  | 5.9 |  |  |  | 5.1 |
Weighted-average discount rate - operating leases |  |  | 3.4 | % |  |  | 3.7 | %
As of December 31, 2020, the Company had an additional operating lease that had not yet commenced with a potential operating lease liability of $118.5 million. The operating lease has a lease term of 18 years and is anticipated to commence on March 2022 when the Company will take possession of the property and commence any required buildout. Rent expense, for periods prior to the adoption of the new lease standard, is recognized on a straight-line basis over the lease term, net of sublease payments. Rent expense consists of the following for the year ended December 31:
|  | 2018 |
Rent |  | $ | 34,924 |
Sublease income |  |  | (45 | )
Total rent expense |  | $ | 34,879 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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