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Leases | 9 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
Leases | Note 5 — Leases All of the Company’s leases are operating leases, the majority of which are for office space. Operating lease right-of-use (“ROU”) assets and non-current operating lease liabilities are included as individual line items on the Consolidated Balance Sheets, while short-term operating lease liabilities are recorded within accrued expenses and other current liabilities. Leases with an initial term of twelve months or less are not recorded on the Consolidated Balance Sheets and are not material. The components of lease expense were as follows (in thousands):
| For the Three Months Ended September 30, |
| 2020 |  |  | 2019 |
Operating lease cost | $ | 4,114 |  |  | $ | 3,851 |
Short-term lease cost |  | 81 |  |  |  | 80 |
Variable lease cost |  | 1,539 |  |  |  | 1,197 |
Sublease income |  | (65 | ) |  |  | (54 | )
Total lease cost | $ | 5,669 |  |  | $ | 5,074 |
| For the Nine Months Ended September 30, |
| 2020 |  |  | 2019 |
Operating lease cost | $ | 12,049 |  |  | $ | 11,215 |
Short-term lease cost |  | 245 |  |  |  | 420 |
Variable lease cost |  | 4,555 |  |  |  | 3,888 |
Sublease income |  | (190 | ) |  |  | (121 | )
Total lease cost | $ | 16,659 |  |  | $ | 15,402 |
Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):
| For the Nine Months Ended September 30, |
| 2020 |  |  | 2019 |
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 9,056 |  |  | $ | 9,111 |
Operating lease right-of-use assets obtained in exchange for lease obligations | $ | 16,117 |  |  | $ | 17,770 |
Weighted-average remaining lease term - operating leases (years) |  | 6.6 |  |  |  | 6.6 |
Weighted-average discount rate - operating leases |  | 4.6 | % |  |  | 5.1 | %
Future minimum lease payments under non-cancellable leases as of September 30, 2020 are as follows (in thousands):
2020 (remainder) | $ | 3,863 |
2021 |  | 15,285 |
2022 |  | 15,494 |
2023 |  | 14,962 |
2024 |  | 14,575 |
Thereafter |  | 33,723 |
Total lease payments |  | 97,902 |
Less imputed interest |  | (13,062 | )
Present value of lease liabilities | $ | 84,840 |
Lease balances as of September 30, 2020 are as follows (in thousands):
Operating lease right-of-use assets | $ | 73,211 |
Short-term operating lease liabilities (1) | $ | 11,900 |
Non-current operating lease liabilities |  | 72,940 |
Total operating lease liabilities | $ | 84,840 |
(1) | Included in accrued expenses and other current liabilities on the Consolidated Balance Sheets.
The Company’s leases do not contain residual value guarantees, material restrictions or covenants, and all sublease transactions are not material. The Company incurred $1.4 million of ROU asset impairments during the nine months ended September 30, 2020 related to facility leases from the SiriusDecisions, Inc. acquisition. These impairments are recorded in acquisition and integration costs in the Consolidated Statements of Operations. Additionally, the Company received a variable incentive payment of $3.5 million in the fourth quarter of 2020 from one of its landlords to terminate the related office space lease early. This amount will be recognized as a reduction in rent expense during the fourth quarter of 2020.

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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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