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Leases (Tables)
9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Schedule of Quantitative Information and Other Information Related to Leases

Quantitative information related to leases is presented in the following table (dollars in thousands):

 

 

For the Quarter Ended September 30, 2020

 

For the Year to Date Ended September 30, 2020

 

Lease expenses (1)

 

 

 

 

 

 

Fixed lease expenses - operating

$

3,059

 

$

9,323

 

Variable lease expenses - operating

 

1,204

 

 

4,746

 

Sublease income

 

(494

)

 

(1,845

)

Total lease expenses

$

3,769

 

$

12,224

 

 

 

 

 

 

 

 

Other information

 

 

 

 

 

 

Gross operating cash flows for operating leases (2)

$

(5,063

)

$

(17,183

)

Operating cash flows from subleases (2)

$

486

 

$

1,720

 

 

 

 

 

 

 

 

 

For the Quarter Ended September 30, 2019

 

For the Year to Date Ended September 30, 2019

 

Lease expenses (1)

 

 

 

 

 

 

Fixed lease expenses - operating

$

3,046

 

$

9,751

 

Variable lease expenses - operating

 

2,196

 

 

6,830

 

Sublease income

 

(1,075

)

 

(3,332

)

Total lease expenses

$

4,167

 

$

13,249

 

 

 

 

 

 

 

 

Other information

 

 

 

 

 

 

Gross operating cash flows for operating leases (2)

$

(7,400

)

$

(25,503

)

Operating cash flows from subleases (2)

$

1,112

 

$

3,417

 

 

 

 

 

 

 

 

 

As of September 30, 2020

 

As of September 30, 2019

 

Weighted average remaining lease term (in months) – operating leases

 

71

 

 

79

 

Weighted average discount rate – operating leases

 

4.9

%

 

5.2

%

__________________

 

(1)

Lease expense and sublease income represent the amount recorded within our unaudited condensed consolidated statements of income. Variable lease amounts represent expenses recognized as incurred which are not included in the lease liability. Fixed lease expenses and sublease income are recorded on a straight-line basis over the lease term and therefore are not necessarily representative of cash payments during the same period.

 

(2)

Cash flows are presented on a consolidated basis and represent cash payments for fixed and variable lease costs.