Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of lease-related assets and liabilities

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

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 leases

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

Future minimum lease payments under finance leases

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

Future minimum lease payments

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