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Leases (Tables)

9 Months Ended

Sep. 30, 2019

Such arrangements represent further commitments of approximately $107.8 million as follows:



Year	Commitments
	(in thousands)
2019 (Remaining three months)	$	6,886
2020	27,543
2021	26,050
2022	23,739
2023	23,195
Thereafter	398
Total	$	107,811

Finance Lease, Liability, Maturity [Table Text Block]

As of September 30, 2019, the maturity of lease liabilities under Topic 842 are as follows:



Year	Operating Leases			Financing Leases			Total
	(in thousands)
2019 (Remaining three months)	$	1,892		$	52		$	1,944
2020	6,173			201			6,374
2021	4,127			190			4,317
2022	2,620			160			2,780
2023	1,746			99			1,845
Thereafter	2,646			77			2,723
Total	19,204			779			19,983
Less: present value discount*	(2,824		)	(91		)	(2,915		)
Present value of lease liabilities	16,380			688			17,068

Less: current portion of lease liabilities	(5,578		)	(177		)	(5,755		)
Total long-term lease liabilities	$	10,802		$	511		$	11,313

* The discount rate used was the incremental borrowing rate.

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Commitments for minimum rentals under non-cancellable leases, under the legacy guidance in ASC 840 as of December 31, 2018 were as follows:



Year	Operating Leases			Financing Leases
	(in thousands)
2019	$	34,189		$	266
2020	32,093			96
2021	26,675			89
2022	23,355			67
2023	21,890			15
Thereafter	3,299			—
Total	$	141,501		$	533
Less: sublease income	(1,091		)
Net lease payments	$	140,410
Less: amount representing interest				(63		)
Present value of obligations under financing leases				$	470
Less: current portion				(239		)
Long-term obligations				$	231

Lease, Cost [Table Text Block]

The company's net assets recorded under operating and finance leases were $17.0 million as of September 30, 2019. The lease cost recognized in our Condensed Consolidated Statement of Income in the category of General and Administrative, is summarized as follows:



	Three Months Ended			Nine Months Ended
	September 30, 2019
	(in thousands)
Operating Lease Cost	$	2,016		$	6,265
Finance Lease Cost:
Amortization of Lease Assets	32			76
Interest on Lease liabilities	9			24
Finance Lease Cost	41			100
Sublease Income	(99		)	(521		)
Total Net Lease Cost	$	1,958		$	5,844

Other Operating and Finance Lease Information [Table Text Block]

Other information about lease amounts recognized in our Condensed Consolidated Statement of Income is summarized as follows:



	September 30, 2019
Weighted Average Lease Term - Operating Leases	3.85 years
Weighted Average Lease Term - Finance Leases	4.23 years
Weighted Average Discount Rate - Operating Leases	8.38	%
Weighted Average Discount Rate - Finance Leases	7.31	%

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

Commitments for minimum rentals under non-cancellable leases, under the legacy guidance in ASC 840 as of December 31, 2018 were as follows:



Year	Operating Leases			Financing Leases
	(in thousands)
2019	$	34,189		$	266
2020	32,093			96
2021	26,675			89
2022	23,355			67
2023	21,890			15
Thereafter	3,299			—
Total	$	141,501		$	533
Less: sublease income	(1,091		)
Net lease payments	$	140,410
Less: amount representing interest				(63		)
Present value of obligations under financing leases				$	470
Less: current portion				(239		)
Long-term obligations				$	231

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

As of September 30, 2019, the maturity of lease liabilities under Topic 842 are as follows:



Year	Operating Leases			Financing Leases			Total
	(in thousands)
2019 (Remaining three months)	$	1,892		$	52		$	1,944
2020	6,173			201			6,374
2021	4,127			190			4,317
2022	2,620			160			2,780
2023	1,746			99			1,845
Thereafter	2,646			77			2,723
Total	19,204			779			19,983
Less: present value discount*	(2,824		)	(91		)	(2,915		)
Present value of lease liabilities	16,380			688			17,068

Less: current portion of lease liabilities	(5,578		)	(177		)	(5,755		)
Total long-term lease liabilities	$	10,802		$	511		$	11,313

* The discount rate used was the incremental borrowing rate.

Schedule Of Future Principal Debt Payments and Minimum Lease Payments Under Non-Cancelable Operating And Capital Leases [Table Text Block]

Commitments for minimum rentals under non-cancellable leases, under the legacy guidance in ASC 840 as of December 31, 2018 were as follows:



Year	Operating Leases			Financing Leases
	(in thousands)
2019	$	34,189		$	266
2020	32,093			96
2021	26,675			89
2022	23,355			67
2023	21,890			15
Thereafter	3,299			—
Total	$	141,501		$	533
Less: sublease income	(1,091		)
Net lease payments	$	140,410
Less: amount representing interest				(63		)
Present value of obligations under financing leases				$	470
Less: current portion				(239		)
Long-term obligations				$	231

As of September 30, 2019, our lease liability of $17.1 million does not include certain arrangements, which are primarily airport leases that do not meet the definition of a lease under Topic 842. Such arrangements represent further commitments of approximately $107.8 million as follows:



Year	Commitments
	(in thousands)
2019 (Remaining three months)	$	6,886
2020	27,543
2021	26,050
2022	23,739
2023	23,195
Thereafter	398
Total	$	107,811

The Company leases office space under non-cancelable operating leases with expiration dates ranging through 2029, with various renewal options. Finance leases range from three to five years and are primarily for office equipment. There were multiple assets under various individual finance leases at September 30, 2019 and 2018. Rental expense for office and airport facilities and certain equipment subject to operating leases for the nine months ended September 30, 2019 and 2018 was $28.0 million and $14.7 million, respectively.