Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases

Components for lease expense

Components of lease expense were as follows (in thousands):

	Fiscal Year
	2019
Operating	$	112,048
Variable		66,689
Short-term		368
Total	$	179,105

Rent expense on all operating leases (under ASC 840) was as follows (in thousands):

	Fiscal Year
	2018		2017
Straight-lined minimum base rent	$	83,999	$	83,387
Contingent rent		20,147		19,559
Common area maintenance and taxes		39,961		38,103
Total	$	144,107	$	141,049

Supplemental cash flow information related to leases

Supplemental information related to leases (in thousands, except percentages):

	Fiscal Year
	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	103,210
Right-of-use assets obtained in exchange for new operating lease liabilities		262,421	(1)
Weighted-average remaining lease term — operating leases (in years)		16.6
Weighted-average discount rate — operating leases		5.2	%

(1) Includes $223.5 million in right-of-use assets related to the Acquisition. (See Note 2 for further discussion of the Acquisition.)

Maturity of operating lease liabilities

As of December 31, 2019, the maturities of our operating lease liabilities are as follows (in thousands):

2020	$	122,250
2021		124,383
2022		125,427
2023		121,855
2024		120,772
Thereafter		1,415,777
Total future lease payments		2,030,464
Less: Interest		(712,514)
Present value of lease liabilities	$	1,317,950

Operating lease liabilities include $867.2 million related to options to extend lease terms that are reasonably certain of being exercised and exclude $136.2 million of legally binding minimum lease payments for leases signed but not yet commenced.

As of January 1, 2019, the aggregate minimum annual lease payments under operating leases (under ASC 840), including amounts characterized as deemed landlord financing payments, were as follows (in thousands):

2019	$	93,792
2020		91,808
2021		88,829
2022		86,925
2023		81,929
Thereafter		495,091
Total	$	938,374