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Leases
6 Months Ended
Jun. 30, 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 June 30, 2019 was as follows (in thousands):

 

 

 

June 30, 2019

 

Operating lease ROU assets

 

$

145,303

 

Current portion of operating lease liabilities

 

 

29,100

 

Noncurrent portion of operating lease liabilities

 

 

136,958

 

Total operating lease liabilities

 

$

166,058

 

 

 

 

June 30, 2019

Weighted-average remaining lease term

 

7.0 years

Weighted-average discount rate

 

4.0%

 

The components of lease expense and other lease information as of and during the three-month period ended June 30, 2019 are as follows (in thousands):

 

 

 

June 30, 2019

 

Operating lease cost

 

$

9,216

 

Cash paid for amounts included in measurement of lease liabilities

 

 

 

 

Operating cash flows from operating leases

 

$

9,199

 

 

The components of lease expense and other lease information as of and during the six-month period ended June 30, 2019 are as follows (in thousands):

 

 

 

June 30, 2019

 

Operating lease cost

 

$

18,458

 

Cash paid for amounts included in measurement of lease liabilities

 

 

 

 

Operating cash flows from operating leases

 

$

18,459

 

 

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 $38.0 million, $38.4 million and $37.0 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, for the three and six month periods ending June 30, 2019 and 2018, we made lease payments to those related parties of approximately $0.5 million and $0.8 million, respectively, and $1.2 million and $1.7 million, respectively,  

 

The following table summarizes the maturity of our operating lease liabilities as of June 30, 2019 (in thousands):

 

 

 

Operating Leases

 

2019

 

$

18,002

 

2020

 

 

32,625

 

2021

 

 

28,372

 

2022

 

 

22,535

 

2023

 

 

20,808

 

Thereafter

 

 

71,044

 

Total undiscounted lease payments

 

 

193,386

 

Less: imputed interest

 

 

(27,328

)

Total lease liabilities

 

$

166,058

 

 

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