Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases

Leases

Lease assets and liabilities recorded on our Statement of Financial Position as of:

(in thousands)	September 30, 2019		December 31, 2018
Operating lease assets	$	23,841	$	—
Operating lease liabilities - current	$	11,366	$	—
Operating lease liabilities - long-term	12,129		—
Total operating lease liabilities	$	23,495	$	—

We currently have leases for real estate, technology equipment, copiers, and vehicles. Our largest operating lease asset at September 30, 2019 of $13.3 million is for office space leased from the Exchange, including the home office. Under this lease, rent is based on rental rates of like property and all operating expenses are the responsibility of the tenant (Indemnity). The lease agreement expires December 31, 2021.

Operating lease costs for the three and nine months ended September 30, 2019 were $3.5 million and $10.7 million, respectively. Of this amount, the Exchange and its subsidiaries reimbursed us $1.5 million and $4.6 million for the three and nine months ended September 30, 2019, respectively, which represents the allocated share of lease costs supporting administrative services activities.