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

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

 

 

 

Year Ended

 

 

 

December 31, 2019

 

Operating lease cost

 

$

30,218

 

Sublease income

 

 

(2,622

)

Net operating lease cost

 

$

27,596

 

Schedule of Supplemental Cash Flow Information Related To Leases

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

 

 

 

Year Ended

 

 

 

December 31, 2019

 

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

 

 

 

 

Operating cash outflows from operating leases

 

$

17,721

 

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

 

 

 

 

Operating leases

 

$

267,048

 

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

 

 

 

December 31, 2019

 

Operating lease right-of-use assets

 

$

283,291

 

Included in accounts payable and accrued liabilities:

 

 

 

 

Operating lease liability, current

 

 

17,896

 

Operating lease liability, non-current

 

 

301,694

 

Total operating lease liability

 

$

319,590

 

 

 

 

 

 

Weighted Average Remaining Lease Term:

 

 

 

 

Operating leases (in years)

 

9.98

 

Weighted Average Discount Rate:

 

 

 

 

Operating leases

 

 

4.65

%

Schedule of Future Lease Payments under Operating Leases

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

 

Year Ending December 31,

 

Operating Leases

 

2020

 

$

29,230

 

2021

 

 

47,035

 

2022

 

 

43,909

 

2023

 

 

44,655

 

2024

 

 

44,014

 

Thereafter

 

 

246,488

 

Total future lease payments

 

 

455,331

 

Less: imputed interest

 

 

(95,762

)

Less: expected tenant improvement allowance

 

 

(39,979

)

Total

 

$

319,590

 

Schedule of Future Minimum Lease Payments Due under Operating Leases

The following table summarizes the future minimum lease payments due under operating leases as of December 31, 2018 and reflect the application of the prior lease standard (ASC 840, Leases). These amounts were disclosed in the Company’s Annual Report on Form 10-K for the year ended 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