Leases

12 Months Ended

Dec. 31, 2019

NOTE 6 – LEASES

The Company has operating leases for facilities and equipment which have remaining terms ranging from 1 to 17 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. A limited number of 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 December 31, 2019:

Real estate facilities	$	165,752
Office equipment		1,631
Other		892
		168,275
Amortization of right-of-use assets		(34,310	)
Total operating lease right-of-use assets	$	133,965

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

	Year Ended December 31,
	2019
Operating lease costs	$	36,287
Short-term lease costs		2,153
Variable lease costs		5
Total rent expense	$	38,445

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

December 31, 2020	$	38,179
December 31, 2021		37,671
December 31, 2022		35,482
December 31, 2023		18,044
December 31, 2024		14,160
Thereafter		23,059
Total future minimum lease payments		166,595
Less: Interest		(14,845	)
Total operating lease liabilities	$	151,750

Operating lease liabilities - current	$	32,500
Operating lease liabilities - non-current		119,250
Total operating lease liabilities	$	151,750

Other information related to operating leases is as follows:

	Year Ended
	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	36,907
Right-of-use assets obtained in exchange for new operating lease liabilities	$	31,123
Weighted-average remaining lease term - operating leases		5.1
Weighted-average discount rate - operating leases		3.7	%

At December 31, 2019, the Company had additional operating leases that have not yet commenced of $117.5 million. Such operating leases are anticipated to commence, where we take possession of the property and commence any required buildout, over the next three years, with lease terms of 2 years to 17 years.

Rent expense, for periods prior to the adoption of the new lease standard, is recognized on a straight-line basis over the lease term, net of sublease payments. Rent expense consists of the following for the years ended December 31:

	2018			2017
Rent	$	34,924		$	36,269
Sublease income		(45	)		(142	)
Total rent expense	$	34,879		$	36,127