Leases

3 Months Ended

Mar. 31, 2021

The Company has operating leases for corporate and field offices, and certain equipment. The Company’s leases have remaining lease terms of 1 month to 9 years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the leases within 1 year. Operating lease expenses for the three months ended March 31, 2021 and 2020, were $21.5 million and $19.9 million, respectively.

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


	Three Months Ended March 31,
	2021		2020
Cash paid for operating lease liabilities	$	22,225	$	20,554
Right-of-use assets obtained in exchange for new operating lease liabilities	$	3,501	$	14,547

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


	March 31, 2021		December 31, 2020
Weighted average remaining lease term for operating leases	4.4 years		4.5 years
Weighted average discount rate for operating leases	2.6	%	2.6	%

Future minimum lease payments under non-cancellable leases as of March 31, 2021, were as follows (in thousands):


2021 (excluding the three months ended March 31, 2021)	$	65,666
2022	73,205
2023	59,476
2024	47,524
2025	29,095
Thereafter	29,371
Less: Imputed interest	(16,932)
Present value of operating lease liabilities (a)	$	287,405

(a) Includes current portion of $79.2 million for operating leases.

As of March 31, 2021, the Company had additional future minimum lease obligations totaling $4.0 million under operating leases that had not yet commenced. These operating leases include agreements for corporate and field office facilities with lease terms of 1 to 8 years.