Leases

12 Months Ended

Dec. 31, 2019

LEASES

The components of lease expense were as follows:



	Year Ended
(in thousands)	December 31, 2019
Operating lease cost	$	104,007
Short-term and month-to-month lease cost	19,267
Variable lease cost	20,582
Sublease income	(20,108		)
Total net lease cost	$	123,748

The Company recorded impairment charges of $1.1 million in 2019. The Company estimated the fair value of the right-of-use assets using an income approach.

In connection with the sale of the KHE Campuses business, the Company is the guarantor of several leases for which it has established ROU assets and lease liabilities (see Note 18). Any net lease cost or sublease income related to these leases is recorded in other non-operating income. The total net lease cost related to these leases was $0.8 million for the year ended December 31, 2019.

Supplemental information related to leases was as follows:



(in thousands)	Year ended December 31, 2019
Cash Flow Information:
Operating cash flows from operating leases (payments)	$	112,671
Right-of-use assets obtained in exchange for new operating lease liabilities (noncash)	236,714

	As of December 31, 2019
Balance Sheet Information:
Lease right-of-use assets	$	526,417

Current lease liabilities	$	92,714
Noncurrent lease liabilities	477,004
Total lease liabilities	$	569,718

Weighted average remaining lease term (years)	10.5
Weighted average discount rate	4.3		%

At December 31, 2019, maturities of lease liabilities were as follows:



(in thousands)	December 31, 2019
2020	$	115,112
2021	98,530
2022	80,255
2023	65,024
2024	51,731
Thereafter	322,674
Total payments	733,326
Less: Imputed interest	(163,608		)
Total	$	569,718

As of December 31, 2019, the Company has entered into operating leases, including educational and other facilities, that have not yet commenced that have minimum lease payments of $17.2 million. These operating leases will commence in fiscal year 2020 with lease terms of one to 10 years.

Disclosure related to periods prior to the adoption of new lease accounting guidance

At December 31, 2018, future minimum rental payments under noncancelable operating leases approximate the following:



(in thousands)	December 31, 2018
2019	$	101,009
2020	84,945
2021	72,031
2022	53,709
2023	47,091
Thereafter	115,948
Total	$	474,733

Minimum payments have not been reduced by minimum sublease rentals of $66.0 million due in the future under noncancelable subleases.

Rent expense under operating lease was approximately $83.4 million and $81.1 million in 2018 and 2017, respectively. Sublease income was approximately $15.6 million and $14.8 million in 2018 and 2017, respectively.