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Leases
9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Leases

NOTE 9  Leases

Substantially all of the Company's operating lease right-of-use assets and operating lease liabilities represent real estate leases for office space used to conduct the Company's business.

The balances and classification of operating lease right-of-use assets and operating lease liabilities within the Condensed Consolidated Balance Sheet is as follows:

 

(in thousands)

 

 

September 30, 2019

 

Balance Sheet

 

 

 

 

 

Assets:

 

 

 

 

 

Operating lease right-of-use assets

Operating lease assets

 

$

193,419

 

Total Assets

 

 

 

193,419

 

Liabilities:

 

 

 

 

 

Current operating lease liabilities

Accrued expenses and other liabilities

 

 

41,828

 

Non-current operating lease liabilities

Operating lease liabilities

 

 

177,097

 

Total Liabilities

 

 

$

218,925

 

The components of lease cost for operating leases for the three and nine months ended September 30, 2019 were:

 

(in thousands)

Three months ended

September 30, 2019

 

 

Nine months ended

September 30, 2019

 

Operating leases:

 

 

 

 

 

 

 

Lease cost

$

11,581

 

 

$

36,671

 

Variable lease cost

 

1,197

 

 

 

2,701

 

Operating lease cost

$

12,778

 

 

$

39,372

 

Sublease income

 

(145

)

 

 

(329

)

Total lease cost net

$

12,633

 

 

$

39,043

 

The weighted average remaining lease term and the weighted average discount rate for operating leases as of September 30, 2019 were:

 

Weighted-average remaining lease term

 

 

6.10

 

Weighted-average discount rate

 

 

3.73

 

Maturities of the operating lease liabilities by fiscal year at September 30, 2019 for the Company's operating leases are as follows:

 

(in thousands)

 

Operating Leases

 

2019 (Remainder)

 

$

10,441

 

2020

 

 

50,613

 

2021

 

 

43,859

 

2022

 

 

36,448

 

2023

 

 

29,936

 

Thereafter

 

 

75,843

 

Total undiscounted lease payments

 

 

247,140

 

Less: Imputed interest

 

 

28,215

 

Present value of lease payments

 

$

218,925

 

At December 31, 2018, the aggregate future minimum lease payments under all non-cancelable lease agreements were as follows:

 

(in thousands)

 

December 31, 2018

 

2019

 

$

48,292

 

2020

 

 

43,517

 

2021

 

 

34,836

 

2022

 

 

27,035

 

2023

 

 

19,981

 

Thereafter

 

 

36,349

 

Total minimum future lease payments

 

$

210,010

 

Supplemental cash flow information for operating leases:

 

(in thousands)

Three months ended

September 30, 2019

 

 

Nine months ended

September 30, 2019

 

Cash paid for amounts included in measurement of liabilities

 

 

 

 

 

 

 

Operating cash flows from operating leases

$

11,816

 

 

$

37,728

 

Right-of-use assets obtained in exchange for new operating

   liabilities

$

11,660

 

 

$

38,291