Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Additional information regarding operating leases

Additional information regarding the Company’s operating leases is as follows:

	September 30,
	2019
Three Months Ended
Operating lease costs	$	7,751
Cash payments included in the measurement of lease liabilities reported in operating cash flows	$	8,031
Right-of-use assets obtained in exchange for new lease liabilities	$	2,897
Right-of-use assets (1)	$	131,424
Operating lease liability (1)	$	147,326
Weighted average discount rate	3.9		%
Weighted average remaining lease term	6.3 years
Nine Months Ended
Operating lease costs	$	22,611
Cash payments included in the measurement of lease liabilities reported in operating cash flows	$	22,616
Right-of-use assets obtained in exchange for new lease liabilities	$	7,009
Right-of-use assets (1)	$	131,424
Operating lease liability (1)	$	147,326
Weighted average discount rate	3.9		%
Weighted average remaining lease term	6.3 years

(1)

The right-of-use assets are included in ‘other assets’ while the operating lease liability is included in ‘other liabilities.’

Contractual maturities of lease liabilities

The following table presents the contractual maturities of the Company's operating lease liabilities at September 30, 2019:

Years Ending December 31,
2019 (remainder)	$	1,693
2020	31,541
2021	30,392
2022	27,096
2023	22,290
2024 and thereafter	55,080
Total undiscounted lease liability	$	168,092
Less: present value adjustment	(20,767		)
Operating lease liability	$	147,325

Future minimum rental commitments

At December 31, 2018, the future minimum rental commitments, exclusive of escalation clauses and maintenance costs and net of rental income, for all of the Company’s operating leases was as follows:

2019	$	31,088
2020	30,491
2021	29,351
2022	26,068
2023	21,408
2024 and thereafter	54,745
Total	$	193,151