LEASES

3 Months Ended

Mar. 31, 2020

LEASES

The components of lease cost as of March 31, 2020 and 2019 were as follows (in thousands):


	Three Months Ended March 31,
	2020		2019
Operating lease cost	$	13,811	$	13,691
Short-term lease cost (12 months or less)	360		299
Sublease income	(1,960)		(476)
Total lease cost, net	$	12,211	$	13,514

The Company's leases and subleases do not include any variable lease payments, residual value guarantees, related-party leases, or restrictions or covenants that would limit or prevent the Company's right to obtain substantially all of economic benefits from use of the respective assets during the lease term.

The Company has subleased certain office facilities under operating lease agreements that expire in 2025. The sublease agreements do not contain any options to renew. The Company recognizes sublease rental income as a reduction in rent expense on a straight-line basis over the lease period.

Supplemental cash flow information related to leases for the three months ended March 31, 2020 and 2019 was as follows (in thousands):


	March 31, 2020		March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	10,108	$	13,759

As of March 31, 2020, maturities of lease liabilities for (i) the remaining nine months of 2020, (ii) each of the succeeding five years, and (iii) thereafter were as follows (in thousands):


Year Ending December 31,	Operating Leases
2020 (from April 1, 2020)	$	49,581
2021	52,051
2022	46,484
2023	43,429
2024	41,197
2025	22,250
Thereafter	23,743
Total minimum lease payments	278,735
Less imputed interest	(41,320)
Present value of lease liabilities	$	237,415

As of March 31, 2020 and December 31, 2019, the weighted-average remaining lease terms and weighted-average discount rates were as follows:


	March 31, 2020		December 31, 2019
Weighted-average remaining lease term (years) — operating leases	5.5		5.5
Weighted-average discount rate — operating leases	6.0	%	6.1	%