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Leases (Tables)
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Schedule of Components of Lease Expense

The components of lease expense are as follows (in thousands):

 

 

Three Months Ended

 

 

 

March 31, 2019

 

Operating lease cost

 

$

4,332

 

Sublease income

 

 

(580

)

Net operating lease cost

 

$

3,752

 

Schedule of Supplemental Cash Flow Information Related To Leases

Supplemental cash flow information related to leases is as follows (in thousands):

 

 

Three Months Ended

 

 

 

March 31, 2019

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

Operating cash flows from operating leases

 

$

3,866

 

Right-of-use assets obtained in exchange for lease obligations:

 

 

 

 

Operating leases

 

$

34,534

 

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows (in thousands, except lease term and discount rate):

 

 

As of

 

 

 

March 31, 2019

 

Operating lease right-of-use assets

 

$

71,013

 

Included in accounts payable and accrued liabilities:

 

 

 

 

Operating lease liability, current

 

 

14,208

 

Operating lease liability, non-current

 

 

59,950

 

Total operating lease liability

 

$

74,158

 

 

 

 

 

 

Weighted Average Remaining Lease Term

 

 

 

 

Operating leases (in years)

 

8.33

 

Weighted Average Discount Rate

 

 

 

 

Operating leases

 

 

5.95

%

Schedule of Future Lease Payments under Operating Leases

Future lease payments under operating leases as of March 31, 2019 were as follows (in thousands):

Year ending December 31,

 

Operating

Leases

 

2019 (remaining 9 months)

 

$

13,098

 

2020

 

 

18,288

 

2021

 

 

9,774

 

2022

 

 

9,973

 

2023

 

 

10,064

 

Thereafter

 

 

43,882

 

Total future lease payments

 

 

105,079

 

Less: imputed interest

 

 

(22,752

)

Less: expected tenant improvement allowance

 

 

(8,169

)

Total

 

$

74,158

 

Schedule of Future Minimum Lease Payments Due under Operating Leases

As previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and under the previous lease accounting standard, ASC 840, Leases, the following table summarizes the future minimum lease payments due under operating leases as of December 31, 2018 (in thousands):

Year ending December 31,

 

Operating

Leases

 

2019

 

$

16,817

 

2020

 

 

29,124

 

2021

 

 

32,034

 

2022

 

 

32,844

 

2023

 

 

33,414

 

Thereafter

 

 

223,472

 

Less: sublease income

 

 

(3,711

)

Total

 

$

363,994