LEASES

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

LEASES

LEASES

As of September 30, 2019, the Company’s leases were all operating leases except for two leases associated with the Company’s corporate headquarters, which were amended during 2019, resulting in the classification as finance leases.

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

	For the Three Months Ended September 30, 2019		For the Nine Months Ended September 30, 2019
Operating lease cost	$	14,056	$	41,406
Finance lease cost:
Amortization of ROU asset	245		735
Interest on lease liability	367		979
Total finance lease cost	612		1,714
Short-term lease cost	22,258		60,295
Variable lease cost	2,139		6,372
Total lease cost	$	39,065	$	109,787

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

Supplemental Lease Balance Sheet Information:	September 30, 2019
ROU assets:
Operating leases	$	164,302
Finance leases (included in property, plant and equipment, net)	30,276
Current portion of lease liabilities:
Operating leases	41,364
Finance leases (included in accrued expenses)	440
Long-term portion of lease liabilities:
Operating leases	122,668
Finance leases (included in deferred taxes, unrecognized tax benefits and other long-term liabilities)	32,228

Weighted Average Remaining Lease Term (years)	September 30, 2019
Operating leases	5.1
Finance leases	22.8
Weighted Average Discount Rate
Operating leases	5.33	%
Finance leases	4.99	%

At September 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 Leases
2019 (three months)	$	13,856		$	535
2020	48,577			2,194
2021	36,506			2,244
2022	28,814			2,297
2023	20,793			2,356
2024	13,930			2,411
Thereafter	27,697			51,151
Total future lease payments	190,173			63,188
Amount representing interest	(26,141		)	(30,520		)
Total lease liabilities	$	164,032		$	32,668

At September 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.

LEASES

LEASES

As of September 30, 2019, the Company’s leases were all operating leases except for two leases associated with the Company’s corporate headquarters, which were amended during 2019, resulting in the classification as finance leases.

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

	For the Three Months Ended September 30, 2019		For the Nine Months Ended September 30, 2019
Operating lease cost	$	14,056	$	41,406
Finance lease cost:
Amortization of ROU asset	245		735
Interest on lease liability	367		979
Total finance lease cost	612		1,714
Short-term lease cost	22,258		60,295
Variable lease cost	2,139		6,372
Total lease cost	$	39,065	$	109,787

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

Supplemental Lease Balance Sheet Information:	September 30, 2019
ROU assets:
Operating leases	$	164,302
Finance leases (included in property, plant and equipment, net)	30,276
Current portion of lease liabilities:
Operating leases	41,364
Finance leases (included in accrued expenses)	440
Long-term portion of lease liabilities:
Operating leases	122,668
Finance leases (included in deferred taxes, unrecognized tax benefits and other long-term liabilities)	32,228

Weighted Average Remaining Lease Term (years)	September 30, 2019
Operating leases	5.1
Finance leases	22.8
Weighted Average Discount Rate
Operating leases	5.33	%
Finance leases	4.99	%

At September 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 Leases
2019 (three months)	$	13,856		$	535
2020	48,577			2,194
2021	36,506			2,244
2022	28,814			2,297
2023	20,793			2,356
2024	13,930			2,411
Thereafter	27,697			51,151
Total future lease payments	190,173			63,188
Amount representing interest	(26,141		)	(30,520		)
Total lease liabilities	$	164,032		$	32,668

At September 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.