Annual report pursuant to Section 13 and 15(d)

Operating Leases (Tables)

v3.19.3.a.u2
Operating Leases (Tables)
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Schedule of Operating Lease Cost, Included in Selling, General and Administrative Expense
The operating lease cost, included in selling, general and administrative expense in the consolidated statement of net and comprehensive income, consisted of the following (in thousands):
 
Year Ended
December 31, 2019
 
Operating lease cost:
   
 
Lease cost
(1)
  $
24,372
 
Variable lease cost
(2)
   
5,305
 
Sublease income
   
(305
)
         
  $
29,372
 
         
(1)
Includes short-term lease cost and ROU asset amortization.
(2)
Primarily relates to common area maintenance, property taxes, insurance, utilities and parking.
Maturities of lease liabilities
Maturities of lease liabilities consisted of the following (in thousands):
 
Year Ended
December 31,
 
2020
  $
21,262
 
2021
   
19,002
 
2022
   
14,887
 
2023
   
11,657
 
2024
   
9,660
 
Thereafter
   
12,773
 
         
Total future minimum lease payments
   
89,241
 
Less imputed interest
   
(8,324
)
         
Present value of operating lease liabilities
  $
80,917
 
         
Schedule of Supplemental Cash Flow Information and Noncash Activity Related to Operating Leases
Supplemental cash flow information and noncash activity related to the operating leases consisted of the following (in thousands):
 
Year Ended
December 31, 2019
 
Operating cash flow information:
   
 
Cash paid for amounts included in the measurement of operating lease liabilities
  $
 20,266
 
Noncash activity:
   
 
ROU assets obtained in exchange for operating lease liabilities
  $
 21,548
 
Tenant improvements owned by lessor related to ROU assets
(1)
  $
5,952
 
(1)
Reclassification from other assets current.
Schedule of Other Information Related to Operating Leases
Other information related to the operating leases consisted of the following:
 
December 31, 2019
 
Weighted average remaining operating lease term
   
5.04 years
 
Weighted average discount rate
   
3.8
%