Leases

12 Months Ended

Dec. 31, 2019

The Company has operating leases for corporate and field offices, and certain equipment. The Company’s leases have remaining lease terms of 1 year to 10 years, some of which include options to extend the leases for up to 7 years, and some of which include options to terminate the leases within 1 year. Operating lease expense for the year ended December 31, 2019, was $77.7 million. Rental expense, primarily for offices premises, was $89.4 million and $87.5 million for the years ended December 31, 2018 and 2017, respectively.

Supplemental cash flow information related to leases consisted of the following (in thousands):


	Year Ended December 31, 2019
Cash paid for operating lease liabilities	$	78,152
Right-of-use assets obtained in exchange for new operating lease liabilities	$	32,170

Supplemental balance sheet information related to leases consisted of the following:


	December 31, 2019
Weighted average remaining lease term for operating leases	4.8 years
Weighted average discount rate for operating leases	3.0	%

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


2020	$	77,813
2021	63,534
2022	49,737
2023	40,811
2024	31,178
Thereafter	30,674
Less: Imputed interest	(20,378)
Present value of operating lease liabilities (a)	$	273,369

(a) Includes current portion of $71.4 million for operating leases.

As of December 31, 2019, the Company had additional future minimum lease obligations totaling $45.5 million under executed operating lease contracts that had not yet commenced. These operating leases include agreements for corporate and field office facilities with lease terms of 1 to 8 years.