The Company has operating leases for its offices. Its leases have remaining lease terms of up to 11 years, some of which include options to extend the leases for up to 5 years, and some of which include options to terminate the leases within 1 year with proper notification. ROU Assets and Lease Liabilities are recorded based on the present value of lease payments over the lease term, which includes the minimum unconditional term of the lease, and may include options to extend or terminate the lease when it is reasonably certain at the commencement date that such options will be exercised. The decision to include these options involves consideration of the Company’s overall growth plans, as well as other strategic requirements. As the rate implicit for each of its leases is not readily determinable, the Company uses its incremental borrowing rate, based on the information available at the lease commencement date, for each of its leases in determining the present value of its expected lease payments. The Company’s incremental borrowing rate is determined by analyzing and combining an applicable risk-free rate, a financial spread adjustment and any lease specific adjustment. Certain leases contain provisions for property-related costs that are variable in nature for which the Company is responsible, including common area maintenance and other property operating services. These costs are calculated based on a variety of factors including property values, tax and utility rates, property services fees, and other factors. The Company records rent expense for operating leases, some of which have escalating rent payments, on a straight-line basis over the lease term. The Company does not have any finance leases.

The components of lease expense for the three and nine months ended September 30, 2019 were as follows (in thousands):

	Three Months Ended			Nine Months Ended
	September 30, 2019			September 30, 2019
Operating lease cost	$	8,547		$	19,089
Short-term lease cost		491			1,373
Variable lease cost		654			1,836
Sublease income		(271	)		(827	)
Total lease cost	$	9,421		$	21,471

Supplemental information related to leases as of September 30, 2019 was as follows:

Maturities of lease commitments as of September 30, 2019 were as follows (in thousands):

Year	Amount
Remainder of 2019	$	4,556
2020		10,601
2021		38,462
2022		34,916
2023		32,241
Thereafter		181,843
Total undiscounted lease commitments		302,619
Less: commitments for leases not yet commenced		(71,977	)
Less: interest		(47,036	)
Present value of lease liabilities		183,606
Less: operating lease liabilities, current		(15,938	)
Operating lease liabilities, non-current	$	167,668

As of December 31, 2018, the Company’s non-cancelable minimum lease commitments were as follows (in thousands):

Year	Amount (1)
2019	$	13,419
2020		18,746
2021		29,054
2022		23,786
2023		20,902
Thereafter		119,109
Total	$	225,016