Leases

3 Months Ended

Mar. 31, 2019

NOTE 5 – LEASES

The Company has operating leases for facilities and equipment which have remaining terms ranging from 1 to 29 years. The leases may include options to extend the lease periods for up to 5 years at rates approximating market rates and/or options to terminate the leases within 1 year. The leases may include a residual value guarantee or a responsibility to return the property to its original state of use. Certain leases contain provisions that provide for rental increases based on consumer price indices. The change in rent expense resulting from changes in these indices are included within variable rent.

Operating leases consisted of the following at March 31, 2019:

Real estate facilities	$	132,596
Office equipment		2,062
Other		486
		135,144
Amortization of right-of-use assets		(7,557	)
Total operating lease right-of-use assets	$	127,587

Rent expense is recognized on a straight-line basis over the lease term, net of sublease payments. Rent expense consists of the following:

	Three Months Ended
	March 31, 2019
Operating lease costs	$	8,896
Short-term lease costs		681
Variable lease costs		12
Total operating lease costs		9,589
Sublease income		—
Total rent expense	$	9,589

Future minimum lease payments under non-cancellable leases as of March 31, 2019 were as follows:

March 31, 2020	$	34,825
March 31, 2021		32,970
March 31, 2022		31,653
March 31, 2023		25,967
March 31, 2024		13,065
Thereafter		18,694
Total future minimum lease payments		157,174
Less: Interest		(14,174	)
Total operating lease liabilities	$	143,000

Operating lease liabilities - current	$	30,324
Operating lease liabilities - non-current		112,676
Total operating lease liabilities	$	143,000

Other information related to operating leases is as follows:

	Three Months Ended
	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9,389
Right-of-use assets obtained in exchange for new operating lease liabilities	$	2,159
Weighted-average remaining lease term - operating leases		5.1
Weighted-average discount rate - operating leases		3.8	%

At March 31, 2019, the Company had additional operating leases that have not yet commenced of $16.6 million. Such operating leases will commence within the next year and with lease terms of 1 year to 28 years.