Annual report pursuant to Section 13 and 15(d)

Leases

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Leases
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Leases
NOTE 10—LEASES
The components of lease cost for the year ended December 31, 2019 were as follows:
(in thousands)  
Operating lease cost(1)
$ 78,609   
Variable lease cost(1)
60,085   
Short term lease cost(1)
9,013   
$ 147,707   
(1) Prior to the adoption of ASC 842, $143.9 million and $84.6 million of rent expense was included in SG&A expense for the years ended December 31, 2018 and 2017, respectively, and $1.6 million of rent expense was included in Cost of sales for the years ended December 31, 2018 and 2017, respectively.
Supplemental cash flow information for the year ended December 31, 2019 is as follows:
(in thousands)  
Cash paid for amounts included in the measurement of operating lease liabilities $ 77,350   
Operating lease liabilities arising from obtaining ROU assets(1)
471,396   
(1) Includes amount initially capitalized in conjunction with the adoption of ASC 842.
Amounts disclosed for lease liabilities arising from obtaining ROU assets include amounts added to the carrying amount of lease liabilities resulting from lease modifications and reassessments.
Supplemental balance sheet information related to leases as of December 31, 2019 is as follows:
Weighted average remaining lease term 6.79 years
Weighted average discount rate 3.82  %
As of December 31, 2019, future maturities of liabilities are as follows:
(in thousands)
2020 $ 75,833   
2021 73,078   
2022 67,424   
2023 60,998   
2024 59,216   
Thereafter 168,996   
Total lease payments 505,545   
Less: imputed interest (70,019)  
Total lease liabilities 435,526   
Less: current obligations (64,019)  
Long-term lease obligations $ 371,507   
As of December 31, 2019, the Company has additional operating lease commitments that have not yet commenced of $6.8 million. These leases will commence in 2020 with lease terms of 6 to 11 years.