Leases (Tables)

6 Months Ended

Jun. 30, 2019

Quantitative Disclosures Related to Operating Leases

The following tables provide quantitative disclosures related to our operating leases (in thousands):

Balance Sheet Information	June 30, 2019
Assets
Operating lease right-of-use assets	$	35,648

Liabilities
Sundry payables and accrued expenses	$	8,053
Noncurrent operating lease liabilities		28,613
Total operating lease liabilities	$	36,666

Weighted Average Remaining Lease Term
Operating leases	6.1 Years

Weighted Average Discount Rate
Operating leases		3.8	%

Lease Expense	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019

Operating Lease Expense (a)	$	2,210	$	4,434

(a)

Excludes expenses of approximately $1.1 million related to non-lease components such as maintenance, property taxes, etc., and operating lease expense for leases with an initial term of 12 months or less, which is not material.

Supplemental Cash Flow Information	Six Months Ended June 30, 2019

Cash Paid for the amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,239
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	744

Minimum Lease Payments

At June 30, 2019, we are obligated to make minimum lease payments through 2028, under operating leases, which are as follows (in thousands):

2019	$	4,342
2020		7,689
2021		7,027
2022		5,818
2023		5,281
Thereafter		11,316
Total lease payments	$	41,473
Less: Interest		(4,807	)
Present value of lease liabilities	$	36,666