The Company has operating leases for all of its facilities and autos.
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):
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$ |
26,209 |
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$ |
25,508 |
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5,371 |
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5,438 |
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(492 |
) |
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(246 |
) |
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$ |
31,088 |
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$ |
30,700 |
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Primarily relates to common area maintenance, property taxes, insurance, utilities and parking. |
Maturities of lease liabilities by year consisted of the following (in thousands):
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$ |
20,901 |
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17,728 |
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15,224 |
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12,814 |
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9,335 |
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6,738 |
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Total future minimum lease payments |
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82,740 |
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(5,433 |
) |
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Present value of operating lease liabilities |
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$ |
77,307 |
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Supplemental cash flow information and noncash activity related to the operating leases consisted of the following (in thousands):
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Operating cash flow information: |
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Cash paid for amounts included in the measurement of operating lease liabilities |
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$
|
23,662 |
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$
|
21,131 |
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ROU assets obtained in exchange for operating lease liabilities |
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$ |
19,981 |
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$ |
16,293 |
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Tenant improvements owned by lessor related to ROU assets (1)
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|
$ |
1,266 |
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$ |
971 |
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Reclassification from other assets current. |
Other information related to the operating leases consisted of the following:
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Weighted average remaining operating lease term |
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4.57 years |
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4.70 years |
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Weighted average discount rate |
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2.9 |
% |
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|
3.1 |
% |
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