LEASES

As of March 31, 2019, the Company’s leases were all operating leases except for a single finance lease related to the Company’s corporate headquarters, which was amended during the first quarter of 2019, resulting in the classification as a finance lease.

The Company’s lease expense was as follows (in thousands):



	For the Three Months Ended March 31, 2019
Operating lease cost	$	13,362
Finance lease cost
Amortization of ROU asset	245
Interest on lease liability	321
Total finance lease cost	566
Short-term lease cost	19,714
Variable lease cost	1,242
Total lease cost	$	34,884

Other information related to leases was as follows (in thousands, except lease term and discount rate):



Supplemental Lease Balance Sheet Information:	March 31, 2019
ROU assets
Operating leases	$	170,550
Finance lease (included in property, plant and equipment, net)	22,782
Current portion of lease liabilities
Operating leases	43,858
Finance lease (included in accrued expenses)	413
Long-term portion of lease liabilities
Operating leases	128,689
Finance lease (included in deferred taxes, unrecognized tax benefits and other long-term liabilities)	23,797



Weighted Average Remaining Lease Term (years)	March 31, 2019
Operating leases	5.3
Finance lease	23.3
Weighted Average Discount Rate
Operating leases	5.42	%
Finance lease	5.25	%

At March 31, 2019, our future lease payments under non-cancelable leases that have lease terms in excess of one year were as follows (in thousands):



Years Ending December 31,	Operating Leases			Finance Lease
2019 (nine months)	$	40,019		$	1,307
2020	44,558			1,777
2021	33,147			1,813
2022	26,081			1,849
2023	18,498			1,886
2024	12,525			1,923
Thereafter	26,037			40,636
Total future lease payments	200,865			51,191
Amount representing interest	(28,318		)	(26,981		)
Total lease liabilities	$	172,547		$	24,210

At March 31, 2019, none of our executed leases that had not yet commenced will create significant rights or obligations in the future and our sublease transactions are not material. Additionally, the Company does not have any related party leases and there were no restrictions or covenants imposed by its leases.

Disclosures related to periods prior to adoption of Topic 842

The following is a summary of future minimum payments under operating leases that have initial or remaining non-cancelable lease terms in excess of one year at December 31, 2018 (in thousands):



Year	Total Operating Leases
2019	$	56,480
2020	45,467
2021	33,564
2022	24,509
2023	15,253
Thereafter	35,778
Total minimum lease payments	$	211,051

During the years ended December 31, 2018, 2017 and 2016, rent expense including short-term rentals was approximately $141.1 million, $125.4 million, and $121.9 million, respectively.