LEASES

6 Months Ended

Jun. 30, 2019

As of June 30, 2019, the Company’s leases were all operating leases except for a single finance lease related to the Company’s corporate headquarters, which was amended during the first quarter of 2019, resulting in the classification as a finance lease.

The Company’s lease expense was as follows (in thousands):



	For the Three Months Ended June 30, 2019		For the Six Months Ended June 30, 2019
Operating lease cost	$	13,988	$	27,350
Finance lease cost:
Amortization of ROU asset	245		490
Interest on lease liability	291		612
Total finance lease cost	536		1,102
Short-term lease cost	18,323		38,037
Variable lease cost	2,991		4,233
Total lease cost	$	35,838	$	70,722

Other information related to leases was as follows (in thousands, except lease term and discount rate):



Supplemental Lease Balance Sheet Information:	June 30, 2019
ROU assets:
Operating leases	$	173,504
Finance lease (included in property, plant and equipment, net)	22,537
Current portion of lease liabilities:
Operating leases	42,564
Finance lease (included in accrued expenses)	399
Long-term portion of lease liabilities:
Operating leases	130,704
Finance lease (included in deferred taxes, unrecognized tax benefits and other long-term liabilities)	23,701



Weighted Average Remaining Lease Term (years)	June 30, 2019
Operating leases	5.2
Finance lease	23.0
Weighted Average Discount Rate
Operating leases	5.34	%
Finance lease	5.25	%

At June 30, 2019, the Company's future lease payments under non-cancelable leases that have lease terms in excess of one year were as follows (in thousands):



Years Ending December 31,	Operating Leases			Finance Lease
2019 (six months)	$	27,763		$	871
2020	47,602			1,777
2021	35,959			1,813
2022	28,374			1,849
2023	20,388			1,886
2024	13,930			1,923
Thereafter	27,429			40,636
Total future lease payments	201,445			50,755
Amount representing interest	(28,177		)	(26,655		)
Total lease liabilities	$	173,268		$	24,100

At June 30, 2019, none of the Company's executed leases that had not yet commenced will create significant rights or obligations in the future and its sublease transactions are not material. Additionally, the Company does not have any related party leases and there were no restrictions or covenants imposed by its leases.

Disclosures related to periods prior to adoption of Topic 842

The following is a summary of future minimum payments under operating leases that have initial or remaining non-cancelable lease terms in excess of one year at December 31, 2018 (in thousands):



Year	Total Operating Leases
2019	$	56,480
2020	45,467
2021	33,564
2022	24,509
2023	15,253
Thereafter	35,778
Total minimum lease payments	$	211,051

During the years ended December 31, 2018, 2017 and 2016, rent expense including short-term rentals was approximately $141.1 million, $125.4 million and $121.9 million, respectively.