Leases (Tables)

9 Months Ended

Sep. 30, 2019

Quantitative Disclosures Related to Operating Leases

The following tables provide quantitative disclosures related to our operating leases (in thousands):

Balance Sheet Information	September 30, 2019
Assets
Operating lease right-of-use assets	$	34,055

Liabilities
Sundry payables and accrued expenses	$	7,899
Noncurrent operating lease liabilities		27,214
Total operating lease liabilities	$	35,113

Weighted Average Remaining Lease Term
Operating leases	6 Years

Weighted Average Discount Rate
Operating leases		3.8	%

Lease Expense	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019

Operating Lease Expense (a)	$	2,199	$	6,633

(a)

Excludes expenses of approximately $1.9 million related to non-lease components such as maintenance, property taxes, etc., and operating lease expense for leases with an initial term of 12 months or less, which is not material.

	Nine Months Ended September 30, 2019
Supplemental Cash Flow Information
Cash paid for the amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6,490
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	856

Minimum Lease Payments

At September 30, 2019, we are obligated to make minimum lease payments through 2028, under operating leases, which are as follows (in thousands):

2019	$	2,158
2020		7,787
2021		7,088
2022		5,861
2023		5,279
Thereafter		11,316
Total lease payments	$	39,489
Less: Interest		(4,376	)
Present value of lease liabilities	$	35,113