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Leases
 3 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Leases Leases
We lease office space and equipment under non-cancelable operating leases. We recognize operating lease expense on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet and are expensed on a straight-line basis. Most leases include one or more options to renew, with renewal terms that can extend the lease term from six months to seven years. The exercise of lease renewal options is at our sole discretion. Certain of our lease agreements include rental payments that are adjusted periodically for inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
The table below summarizes the carrying amount of our operating lease assets and liabilities:
Leases
 
Classification
 
As of
March 31,
2020
 
As of
December 31,
2019
Assets
 
 
 
 
 
 
  Operating lease assets
 
Operating lease assets
 
$
149,570

 
$
159,777

Total lease assets
 
 
 
$
149,570

 
$
159,777

Liabilities
 
 
 
 
 
 
Current
 
 
 
 
 
 
  Operating lease liabilities
 
Accounts payable, accrued expenses and other
 
$
36,235

 
$
35,727

Noncurrent
 
 
 
 
 
 
  Operating lease liabilities
 
Noncurrent operating lease liabilities
 
163,594

 
176,378

Total lease liabilities
 
 
 
$
199,829

 
$
212,105



The table below summarizes total lease costs:
 
Three months ended March 31,
Lease Cost
2020
 
2019
Operating lease costs
$
11,900

 
$
10,865

Short-term lease costs
522

 
863

Variable lease costs
2,987

 
3,013

Sublease income
(1,090
)
 
(1,197
)
Total lease cost
$
14,319

 
$
13,544



We sublease certain of our leased office spaces to third parties. Our sublease portfolio consists of leases of office space that we have vacated before the lease term expiration. Operating lease expense on vacated office space is reduced by sublease rental income, which is recorded to SG&A expenses on the Condensed Consolidated Statements of Comprehensive Income. Our sublease arrangements do not contain renewal options or restrictive covenants. We estimate future sublease rental income to be $3.6 million for the remainder of 2020, $4.5 million in 2021, $0.7 million in 2022, $0.6 million in 2023, $0.6 million in 2024 and $0.3 million in years beyond 2024.

The maturity analysis below summarizes the remaining future undiscounted cash flows for our operating leases and includes a reconciliation to operating lease liabilities reported on the Condensed Consolidated Balance Sheet:
 
As of
March 31, 2020
2020 (remaining)
$
32,688

2021
50,784

2022
31,886

2023
26,654

2024
23,518

Thereafter
75,776

   Total future lease payments
241,306

   Less: imputed interest
(41,477
)
Total
$
199,829



The table below includes cash paid for our operating lease liabilities, other non-cash information, our weighted average remaining lease term and weighted average discount rate:
 
Three months ended March 31,
 
2020
 
2019
Cash paid for amounts included in the measurement of operating lease liabilities
$
13,431

 
$
11,535

 
 
 
 
Operating lease assets obtained in exchange for lease liabilities
$
1,455

 
$
4,045

 
 
 
 
Weighted average remaining lease term (years)
 
 
 
   Operating leases
6.5

 
6.5

 
 
 
 
Weighted average discount rate
 
 
 
   Operating leases
5.6
%
 
6.2
%