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Leases (Tables)
 12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Supplemental Balance Sheet Information
Balance sheet information as of December 31, 2019 related to leases was as follows:
ROU Assets and Lease Liabilities
December 31, 2019
Operating lease assets
$
93,485

Operating lease liabilities (1)
$
112,344

(1) 
The difference between operating lease assets and operating lease liabilities is the unamortized balance of deferred rent, which prior to January 1, 2019 was included as a separate liability within “Accrued expenses and other liabilities.”
Lease Costs
Components of net lease costs for the years ended December 31, 2019, 2018 and 2017, were as follows:
 
Year Ended December 31,
Net Lease Costs
Income Statement Classification
2019
 
2018
 
2017
Operating lease costs (1)
Other general and administrative expense
$
(19,502
)
 
$
(17,183
)
 
$
(15,780
)
Sublease revenue
Other revenue
4,637

 
397

 
391

Net lease costs
 
$
(14,865
)
 
$
(16,786
)
 
$
(15,389
)
(1) 
Includes variable lease costs of $1.6 million, $0.6 million and $0.4 million for the years ended December 31, 2019, 2018 and 2017, respectively.
Supplemental Cash Flow Information
Supplemental cash flow information related to the Company’s operating leases for the year ended December 31, 2019 was as follows:
Year Ended December 31,
2019
Non-cash operating activity:
 
Leased assets obtained in exchange for new operating lease liabilities (1)
$
15,277

(1) 
Represents non-cash activity and, accordingly, is not reflected in the Consolidated Statements of Cash Flows.
Future Minimum Undiscounted Lease Payments
The Company’s future minimum undiscounted lease payments under operating leases and anticipated sublease revenue as of December 31, 2019 were as follows:
 
Operating Lease
Payments
 
Sublease
Revenue
 
Net
2020
$
18,219

 
$
(6,369
)
 
$
11,850

2021
18,649

 
(6,560
)
 
12,089

2022
15,010

 
(2,906
)
 
12,104

2023
11,663

 
—

 
11,663

2024
12,002

 
—

 
12,002

Thereafter
74,497

 
—

 
74,497

Total lease payments (1)
$
150,040

 
$
(15,835
)
 
$
134,205

Discount effect
37,696

 
 
 
 
Present value of future minimum lease payments
$
112,344

 
 
 
 
(1) 
As of December 31, 2019, the Company entered into an additional operating lease which has not yet commenced and is therefore not part of the table above nor included in the lease right-of-use asset and liability. This lease will commence when the Company obtains possession of the underlying asset, which is expected to be on April 1, 2020. The lease term is nine years and has an undiscounted future rent payment of approximately $8.7 million.
Weighted-average Remaining Lease Term and Discount Rate
The weighted-average remaining lease term and discount rate used in the calculation of the Company’s operating lease assets and liabilities were as follows:
Lease Term and Discount Rate
December 31, 2019
Weighted-average remaining lease term (in years)
9.67

Weighted-average discount rate
5.75
%