Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

Leases. Total operating lease expense was $42.5 million, $40.8 million and $40.8 million in 2019, 2018 and 2017, respectively. Included in the 2019 operating lease expense was $4.2 million of lease expense related to short-term leases and equipment. Total finance lease expense was $2.4 million, $3.8 million and $3.1 million in 2019, 2018 and 2017, respectively.

Lease-related assets and liabilities as of December 31, 2019 are as follows ($000 omitted):

Assets:
Operating lease assets, net of accumulated amortization	99,028
Finance lease assets, net of accumulated depreciation	4,312
Total lease assets	103,340
Liabilities:
Operating lease liabilities	113,843
Finance lease liabilities	3,716
Total lease liabilities	117,559

Other information related to operating and finance leases during the year ended December 31, 2019 is as follows:

	Operating		Finance
Cash paid for amounts included in the measurement of lease liabilities ($000)	43,207		3,076
Lease assets obtained in exchange for lease obligations ($000)	51,188		—
Weighted average remaining lease term (years):	4.7		2.5
Weighted average discount rate	4.4	%	4.7	%

Future minimum lease payments under operating and finance leases as of December 31, 2019 are as follows:

	Operating		Finance
	($000 omitted)
2020	37,835		1,913
2021	28,926		957
2022	21,702		957
2023	15,892		80
2024	12,209		—
Thereafter	14,652		—
Total future minimum lease payments	131,216		3,907
Less: imputed interest	(17,373	)	(191	)
Net future minimum lease payments	113,843		3,716

As required by the Company's adoption of Topic 842 using the optional transition method (refer to Note 1-Q), below were the future minimum lease payments relating to operating leases as of December 31, 2018 (in thousands of dollars): 

2019	40,664
2020	27,064
2021	17,663
2022	11,521
2023	6,677
2024 and after	8,923
	112,512

Leases

Leases. Total operating lease expense was $42.5 million, $40.8 million and $40.8 million in 2019, 2018 and 2017, respectively. Included in the 2019 operating lease expense was $4.2 million of lease expense related to short-term leases and equipment. Total finance lease expense was $2.4 million, $3.8 million and $3.1 million in 2019, 2018 and 2017, respectively.

Lease-related assets and liabilities as of December 31, 2019 are as follows ($000 omitted):

Assets:
Operating lease assets, net of accumulated amortization	99,028
Finance lease assets, net of accumulated depreciation	4,312
Total lease assets	103,340
Liabilities:
Operating lease liabilities	113,843
Finance lease liabilities	3,716
Total lease liabilities	117,559

Other information related to operating and finance leases during the year ended December 31, 2019 is as follows:

	Operating		Finance
Cash paid for amounts included in the measurement of lease liabilities ($000)	43,207		3,076
Lease assets obtained in exchange for lease obligations ($000)	51,188		—
Weighted average remaining lease term (years):	4.7		2.5
Weighted average discount rate	4.4	%	4.7	%

Future minimum lease payments under operating and finance leases as of December 31, 2019 are as follows:

	Operating		Finance
	($000 omitted)
2020	37,835		1,913
2021	28,926		957
2022	21,702		957
2023	15,892		80
2024	12,209		—
Thereafter	14,652		—
Total future minimum lease payments	131,216		3,907
Less: imputed interest	(17,373	)	(191	)
Net future minimum lease payments	113,843		3,716

As required by the Company's adoption of Topic 842 using the optional transition method (refer to Note 1-Q), below were the future minimum lease payments relating to operating leases as of December 31, 2018 (in thousands of dollars): 

2019	40,664
2020	27,064
2021	17,663
2022	11,521
2023	6,677
2024 and after	8,923
	112,512