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Leases
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Leases

NOTE 17. LEASES

 

We have operating leases primarily for office facilities, automobiles and information technology equipment. Office facilities account for approximately 96% of our total lease liability.

 

Balance sheet information related to the Company’s operating leases as of March 31, 2019 was as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2019

 

Operating lease ROU assets

 

$

145,574

 

Current portion of operating lease liabilities

 

 

28,647

 

Noncurrent portion of operating lease liabilities

 

 

138,373

 

Total operating lease liabilities

 

$

167,020

 

 

 

 

March 31, 2019

Weighted-average remaining lease term

 

7.1 years

Weighted-average discount rate

 

4.1%

 

The components of lease expense and other lease information as of and during the three-month period ended March 31, 2019 are as follows (in thousands):

 

 

 

March 31, 2019

 

Operating lease cost

 

$

9,242

 

Cash paid for amounts included in measurement of lease liabilities

 

 

 

 

     Operating cash flows from operating leases

 

$

9,260

 

 

Our leases have remaining lease terms of 1 year to 11 years. These leases generally contain renewal options for periods ranging from two to five years. Because the Company is not reasonably certain to exercise these renewal options, the options are not considered in determining the lease term, and associated potential option payments are excluded from lease payments. Expenses associated with operating leases was $38 million, $38.4 million and $37 million for the years ended December 31, 2018, 2017 and 2016, respectively.

 

A number of businesses acquired by us are located in properties owned indirectly by and leased from persons employed by the Company, none of whom are members of our senior management. In the aggregate, we made lease payments to those related parties of approximately $0.6 million and $0.9 million for the three months ended March 31, 2019 and 2018, respectively.

 

 

The following table summarizes the maturity of our operating lease liabilities as of March 31, 2019 (in thousands):

 

 

 

Operating Leases

 

2019

 

$

25,975

 

2020

 

 

30,588

 

2021

 

 

26,243

 

2022

 

 

20,423

 

2023

 

 

19,097

 

Thereafter

 

 

66,194

 

    Total undiscounted lease payments

 

 

188,520

 

Less: imputed interest

 

 

(21,500

)

    Total lease liabilities

 

$

167,020

 

 

The following table summarizes the maturity of our operating lease commitments as of December 31, 2018 (in thousands):

 

 

 

Operating Leases

 

2019

 

$

34,256

 

2020

 

 

30,419

 

2021

 

 

26,172

 

2022

 

 

20,358

 

2023

 

 

18,981

 

Thereafter

 

 

65,854

 

Total future minimum rental commitments

 

$

196,040