LEASES

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases

LEASES

During the three and nine months endedSeptember 30, 2019, the Company incurred operating lease expenses of $7.4 million and $21.5 million, respectively, including short-term lease expenses, which were included as a component of selling, general and administrative expenses in the condensed consolidated statements of comprehensive income (loss). As of September 30, 2019, the weighted-average remaining lease term was 5.3 years and the weighted-average discount rate was 5.41%.

Operating leases mature as follows (in thousands):

Fiscal Year Ending
December 31	Minimum Payments
2019	$	6,793
2020	24,733
2021	19,026
2022	14,021
2023	10,614
After 2024	24,582
Total lease payments	$	99,769
Less: Interest	15,805
Present value of lease liabilities	$	83,964

In addition, the Company had $0.8 million of financing leases outstanding at September 30, 2019 which mature over the next year.

During the three months ended September 30, 2019, the Company did not enter into any significant new operating or financing leases. As of September 30, 2019, the Company did not have any significant operating or financing leases that had not yet commenced.

During the three and nine months endedSeptember 30, 2018, the Company incurred rent expense of $4.5 million and $13.0 million, respectively, under ASC 840, Leases, which were included as a component of selling, general and administrative expenses in the unaudited condensed consolidated statements of comprehensive income (loss).

Leases

LEASES

During the three and nine months endedSeptember 30, 2019, the Company incurred operating lease expenses of $7.4 million and $21.5 million, respectively, including short-term lease expenses, which were included as a component of selling, general and administrative expenses in the condensed consolidated statements of comprehensive income (loss). As of September 30, 2019, the weighted-average remaining lease term was 5.3 years and the weighted-average discount rate was 5.41%.

Operating leases mature as follows (in thousands):

Fiscal Year Ending
December 31	Minimum Payments
2019	$	6,793
2020	24,733
2021	19,026
2022	14,021
2023	10,614
After 2024	24,582
Total lease payments	$	99,769
Less: Interest	15,805
Present value of lease liabilities	$	83,964

In addition, the Company had $0.8 million of financing leases outstanding at September 30, 2019 which mature over the next year.

During the three months ended September 30, 2019, the Company did not enter into any significant new operating or financing leases. As of September 30, 2019, the Company did not have any significant operating or financing leases that had not yet commenced.

During the three and nine months endedSeptember 30, 2018, the Company incurred rent expense of $4.5 million and $13.0 million, respectively, under ASC 840, Leases, which were included as a component of selling, general and administrative expenses in the unaudited condensed consolidated statements of comprehensive income (loss).