Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease costs

The table below presents the Company’s net lease cost and certain other information related to our leasing activities as of and for the year ended December 31, 2019 (dollars in thousands).

Description
Year Ended December 31, 2019:
Operating lease cost (1)	$	144,727
Variable lease cost (2)	16,404
Sublease income	(38,901		)
Total lease cost, net (3)	$	122,230
Cash paid for amounts included in the measurement of operating lease liabilities	$	135,799
Cash receipts from sublease arrangements	$	34,441
Right-of-use assets obtained in exchange for new operating lease liabilities	$	136,997
As of December 31, 2019:
Weighted average remaining lease term for operating leases (in years)	10.2
Weighted average discount rate for operating leases	6.7		%

(1) Included in operating lease cost was $43.2 million of costs for subleasing activities during 2019.

(2) These amounts are primarily variable lease and nonlease costs that were not fixed at the lease commencement date or are dependent on something other than an index or a rate.

(3)

The Company did not capitalize any operating lease costs during 2019.

Operating lease maturity schedule

As of December 31, 2019, the (i) maturities of operating lease liabilities under non-cancelable arrangements and (ii) estimated future sublease cash receipts from non-cancelable arrangements were as follows (in thousands):

	Operating			Sublease
	Lease			Cash
Period ending December 31,	Payments			Receipts
2020	$	134,579		$	39,941
2021	134,707			44,382
2022	129,741			45,582
2023	126,435			46,520
2024	114,948			40,643
Thereafter	643,129			143,547
Total future minimum operating lease payments and estimated sublease cash receipts (1)	1,283,539			$	360,615
Imputed interest	(374,490		)
Total operating lease liabilities per the Consolidated Balance Sheet	$	909,049

(1)

Approximately 82% of the operating lease payments pertain to properties in the United States.

Supplemental balance sheet information

The table below indicates where the discounted operating lease payments from the above table are classified in the Consolidated Balance Sheet as of December 31, 2019 (in thousands).

Description
Accounts payable and accrued liabilities	$	76,516
Operating lease liabilities	832,533
Total operating lease liabilities per the Consolidated Balance Sheet	$	909,049

Schedule of future minimum lease payments for capital leases

As of December 31, 2018, future minimum annual cash payments under non-cancelable operating lease agreements for facilities, office equipment and other assets, which expired in 2019 and through 2038, were as follows (in thousands):

Year ended or ending December 31,
2019	$	130,991
2020	121,802
2021	118,945
2022	111,117
2023	106,113
Thereafter	689,360
Total minimum lease payments (1)	$	1,278,328

(1) Excludes approximately $372.0 million of sublease income.