LEASES (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Summary of lease expense and related cash flows

The following table summarizes the amounts related to the Company’s total lease expense and the cash flows arising from lease transactions.

	Three months ended			Six months ended
	June 30, 2019			June 30, 2019
Lease cost:
Operating lease expense	$	4,134		$	11,064
Short-term lease expense(1)	119			765
Sublease income(2)	(192		)	(734		)
Total lease expense	$	4,061		$	11,095
Other information:
Operating cash outflows from operating leases	$	6,384		$	12,920
Right-of-use assets obtained in exchange for new operating lease liabilities	$	—		$	—
Weighted-average remaining lease term - operating leases(3)	8.7 years			8.7 years
Weighted-average discount rate - operating lease(4)	4.7		%	4.7		%

(1) Short-term lease expense is recognized on a straight-line basis over the lease term.

(2) Sublease income largely relates to office property in London, England.

(3) Weighted-average remaining lease term was calculated on the basis of the remaining lease term and the lease liability balance for each lease at the reporting date.

(4) Weighted-average discount was calculated on the basis of the discount rate for the lease that was used to calculate the lease liability balance for each lease at the reporting date and the remaining balance of the lease payments for each lease at the reporting date.

Maturity schedule and minimum lease payments

At June 30, 2019, the scheduled maturity of the Company's operating lease liabilities are expected to be as follows:

	Expected
	Cash Flows
Remainder of 2019	$	12,709
2020	21,558
2021	21,366
2022	21,989
2023	17,877
Later years	70,056
Discount	(32,298		)
Total discounted operating lease liabilities	$	133,257

Schedule of future minimum rental payments for operating leases

At December 31, 2018, the Company's future minimum lease payments were expected to be as follows:

Year ended December 31,
2019	$	28,240
2020	25,331
2021	27,025
2022	28,012
2023	23,801
Later years	118,497
Total future minimum lease payments	$	250,906