Lease Commitments (Tables)

3 Months Ended

Mar. 31, 2020

The following table presents the lease-related assets and liabilities recorded on the Company's unaudited Condensed Consolidated Balance Sheets related to its operating leases:



(in thousands)	Classification on Balance Sheet	March 31, 2020			December 31, 2019
Assets:
Operating lease	Operating lease right-of-use assets, net	$	108,974		$	102,354
Liabilities:
Current operating lease liabilities	Current operating lease liabilities	29,277			30,765
Noncurrent operating lease liabilities	Noncurrent operating lease liabilities	95,522			87,064
Total operating lease liabilities		$	124,799		$	117,829

Weighted-Average Remaining Lease Term		6.14 years			5.72 years
Weighted-Average Discount Rate⁽¹⁾		5.3		%	5.4		%

⁽¹⁾ Upon adoption of Topic 842, discount rates used for existing leases were established at the transition date.

Lease cost

The components of operating lease costs within the Company's unaudited Condensed Consolidated Statements of Operations consisted of the following for the three months ended March 31, 2020:



	Three Months Ended		Three Months Ended
(in thousands)	March 31, 2020		March 31, 2019
Operating lease cost	$	9,535	$	9,394
Variable lease cost	2,193		2,009
Sublease income	1,099		943

Supplemental cash flow information related to operating leases for the three months ended March 31, 2020 were as follows:



	Three Months Ended		Three Months Ended
(in thousands)	March 31, 2020		March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	9,495	$	9,596

Right-of-use assets obtained in exchange for lease obligations ⁽¹⁾	$	16,173	$	4,220

⁽¹⁾Amount excludes $122.3 million of right-of-use assets recognized upon adoption of Topic 842.

Operating lease maturities

Future undiscounted operating lease payments reconciled to total operating lease liabilities are as follows:



(in thousands)	March 31, 2020
2020	$	25,883
2021	32,656
2022	20,461
2023	14,540
2024	11,289
Thereafter	43,035
Total undiscounted lease payments	147,864
Less imputed interest	(23,064		)
Present value of future lease payments	$	124,799