Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of Lease Assets And Liabilities

Total recorded balances for the lease assets and liabilities are as follows:

(Dollars in thousands)	December 31, 2019
Assets:
Right-of-use assets - operating leases (1)	$	197,365
Liabilities:
Lease liabilities - operating leases (1)	218,847

(1)

Included in these amounts are $21.7 million and $30.0 million of ROU assets and lease liabilities, respectively, attributable to the inclusion of SVB Leerink in our financial results at December 31, 2019.

Lease Expense Components

The components of our lease cost and supplemental cash flow information related to leases for the year ended December 31, 2019 were as follows:

(Dollars in thousands)	2019
Operating lease cost	$	41,049
Short-term lease cost	1,823
Variable lease cost	3,477
Less: sublease income	(4,492		)
Total lease expense, net	$	41,857
Supplemental cash flows information:
Cash paid for amounts included in the measurement of lease liabilities:
Cash paid for operating leases	$	44,976
Noncash items during the period:
Lease obligations in exchange for obtaining right-of-use assets:
Operating leases	$	33,167

Lessee, Operating Lease, Liability, Maturity

The following table presents our undiscounted future cash payments for our operating lease liabilities as of December 31, 2019:

Years ended December 31, (Dollars in thousands)	Operating Leases
2020	$	44,791
2021	42,683
2022	37,669
2023	36,914
2024	26,602
2025 and thereafter	52,128
Total lease payments (1)	$	240,787
Less: imputed interest	(21,940		)
Total lease liabilities	$	218,847

(1)

As of December 31, 2019, we have additional leases that have not yet commenced. We estimate that we will record additional lease liabilities of $29.1 million upon commencement. These leases will commence in 2020 with lease terms of two to five years.

Schedule of Future Minimum Rental Payments for Operating Leases

The following table presents minimum future payments under noncancelable operating leases under ASC 840 as of December 31, 2018:

(Dollars in thousands)	Amount
2019	$	38,609
2020	37,575
2021	35,854
2022	31,659
2023	30,904
2024 and thereafter	49,071
Total minimum future payments	$	223,672