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Leases (Tables)

6 Months Ended

Jun. 30, 2020

The components of our global lease cost reflected in the condensed consolidated statements of income are as follows:


	Three Months Ended						Six Months Ended
(in thousands)	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Lease liability cost	$	6,280	$	5,610	$	12,498	$	10,895
Variable lease cost not included in the lease liability⁽¹⁾	1,224		924		2,321		1,721
Total lease cost	7,504		6,534		14,819		12,616

⁽¹⁾ Variable lease cost includes common area maintenance, property taxes, utilities and fluctuations in rent due to a change in an index or rate.

Lessee, Operating Lease Other Information

Other information related to operating leases is as follows:


	Three 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 the lease liability:
Operating cash flows from operating leases	$	(5,668)	$	(4,977)	$	(11,401)	$	(9,309)
Right-of-use assets obtained in exchange for new operating lease liabilities	642		9,272		20,243		23,107


	As of June 30,
	2020		2019
Weighted-average remaining lease term of operating leases	7.7 years		7.8 years
Weighted-average discount rate of operating leases	3.3	%	3.3	%

Schedule of Maturity of Operating Lease Liabilities

The maturity schedule of the operating lease liabilities as of June 30, 2020 is as follows:


(in thousands)
Remainder of 2020	$	11,395
2021	22,531
2022	19,549
2023	14,962
2024	14,245
Thereafter	57,847
Total future lease payments	140,529
Less: Present value adjustment	(17,810)
Present value of future lease payments⁽¹⁾	$	122,719

⁽¹⁾Includes the current portion of operating lease liabilities of $19.1 million, which is reflected in other accrued expenses and liabilities in the condensed consolidated balance sheets.