Lease Commitments (Tables)

6 Months Ended

Jun. 30, 2020

The following table presents the lease-related assets and liabilities recorded on the Company's unaudited Condensed Consolidated Balance Sheets related to its operating leases:

(in thousands)	Classification on Balance Sheet	June 30, 2020			December 31, 2019
Assets:
Operating lease	Operating lease right-of-use assets, net	$	106,508		$	102,354
Liabilities:
Current operating lease liabilities	Current operating lease liabilities		30,027			30,765
Noncurrent operating lease liabilities	Noncurrent operating lease liabilities		93,109			87,064
Total operating lease liabilities		$	123,136		$	117,829

Weighted-Average Remaining Lease Term		6.09 Years			5.72 years
Weighted-Average Discount Rate ⁽¹⁾			5.3	%		5.4	%

(1)	Upon adoption of Topic 842, discount rates used for existing leases were established at the transition date.

Lease Cost

The components of operating lease costs within the Company's unaudited Condensed Consolidated Statements of Operations consisted of the following for the three and six months ended June 30, 2020:

	Three Months Ended		Three Months Ended		Six Months Ended		Six Months Ended
(in thousands)	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Operating lease cost	$	9,854	$	9,718	$	19,389	$	19,112
Variable lease cost		2,030		1,762		4,223		3,771
Sublease income		1,004		1,029		2,103		1,972

Supplemental cash flow information related to operating leases for the three and six months ended June 30, 2020 were as follows:

	Three Months Ended		Three Months Ended		Six Months Ended		Six Months Ended
(in thousands)	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	9,019	$	9,818	$	18,514	$	19,414

Right-of-use assets obtained in exchange for lease obligations ⁽¹⁾	$	6,684	$	7,796	$	22,857	$	12,016

(1)	Amount excludes $122,300,000 of right-of-use assets recognized upon adoption of Topic 842.

Operating Lease Maturities

Future undiscounted operating lease payments reconciled to total operating lease liabilities are as follows:

(in thousands)	June 30, 2020
2020	$	17,449
2021		34,479
2022		21,588
2023		14,920
2024		11,788
Thereafter		45,553
Total undiscounted lease payments		145,777
Less imputed interest		(22,641	)
Present value of future lease payments	$	123,136