LEASES

9 Months Ended

Sep. 30, 2019

ny leases office space, corporate apartments, office equipment, and vehicles. Many of the Company’s leases contain variable payments including changes in base rent and charges for common area maintenance or other miscellaneous expenses. Due to this variability, the cash flows associated with these variable payments are not included in the minimum lease payments used in determining the RoU Assets and associated lease liabilities and are recognized in the period in which the obligation for such payments is incurred. The Company’s leases have remaining lease terms ranging from 0.1 years to 11.6 years. Certain lease agreements, mainly for office space, include options to extend or terminate the lease before the expiration date. The Company considers such options when determining the lease term when it is reasonably certain that the Company will exercise that option. The Company subleases a portion of its office space to third parties.

During the three and nine months ended September 30, 2019, the components of lease expense were as follows:



	Income Statement Classification	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Operating lease cost	Selling, general and administrative expenses	$	16,210		$	45,125
Variable lease cost	Selling, general and administrative expenses	2,439			6,535
Short-term lease cost	Selling, general and administrative expenses	1,085			2,989
Sublease income	Interest and other income, net	(664		)	(1,596		)
Total lease cost		$	19,070		$	53,053

Supplemental cash flow information related to leases was as follows:



	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	14,709	$	43,510
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	14,251	$	67,798
Non-cash net increase due to lease modifications:
Operating lease right-of-use assets	$	3,233	$	6,383
Operating lease liabilities	$	3,199	$	6,451

Weighted average remaining lease term and discount rate as of September 30, 2019 were as follows:



	As of September 30, 2019
Weighted average remaining lease term, in years:
Operating leases	5.9
Weighted average discount rate:
Operating leases	3.8	%

As of September 30, 2019, operating lease liabilities will mature as follows:



Year ending December 31,	Lease Payments
2019 (excluding nine months ended September 30, 2019)	$	15,442
2020	55,258
2021	44,896
2022	28,396
2023	20,915
Thereafter	63,793
Total lease payments	228,700
Less: imputed interest	(23,295		)
Total	$	205,405

There were no lease agreements that contained material restrictive covenants or material residual value guarantees as of September 30, 2019. There were no lease agreements signed with related parties as of September 30, 2019.

As of September 30, 2019, the Company had committed to payments of $69,683 related to operating lease agreements that had not yet commenced. These operating leases will commence during various dates during 2019 through 2020 with lease terms ranging from 1.2 to 11.6 years. The Company did not have any material finance lease agreements that had not yet commenced.