Leases

3 Months Ended

Mar. 31, 2020

LeasesThe Company has operating leases for corporate and field offices, and certain equipment. The Company’s leases have remaining lease terms of less than 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 expenses for the three months ended March 31, 2020 and 2019, were $19.9 million and $16.6 million, respectively.

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


	Three Months Ended March 31,
	2020		2019
Cash paid for operating lease liabilities	$	20,554	$	16,728
Right-of-use assets obtained in exchange for new operating lease liabilities	$	14,547	$	10,517

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


	March 31, 2020		December 31, 2019
Weighted average remaining lease term for operating leases	4.8 years		4.8 years
Weighted average discount rate for operating leases	2.9	%	3.0	%

Future minimum lease payments under non-cancellable leases as of March 31, 2020, were as follows (in thousands):


2020 (excluding the three months ended March 31, 2020)	$	59,247
2021	67,151
2022	53,833
2023	44,610
2024	34,645
Thereafter	35,863
Less: Imputed interest	(19,463)
Present value of operating lease liabilities (a)	$	275,886

(a) Includes current portion of $71.3 million for operating leases.

As of March 31, 2020, the Company had additional future minimum lease obligations totaling $33.2 million under operating leases that had not yet commenced. These operating leases include agreements for corporate and field office facilities with lease terms of less than 1 year to 8 years.