The Company determines if an arrangement contains a lease at its inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, accrued liabilities, and operating lease liability in our consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the rate implicit in the lease is not readily determinable, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of future lease payments. The Company took into consideration its credit rating and the length of the lease when calculating the incremental borrowing rate. The Company considers the options to extend or terminate the lease in determining the lease term, when it is reasonably certain to exercise one of the options. The Company combines lease and non-lease components into a single lease component for its real estate and equipment leases.

The Company has entered into operating leases primarily for office real estate. The leases have remaining terms ranging from one year to 11 years and may include options to extend or terminate the lease. The depreciable life of ROU assets is limited by the expected lease term.

The Company earns sublease income from subleases for a portion of the former headquarters in Saratoga, California. The subleases expire in 2020 when the underlying leases expire.

	Year Ended
	December 31, 2019
Operating lease cost	$	30,218
Sublease income		(2,622	)
Net operating lease cost	$	27,596

Supplemental cash flow information related to leases is as follows (in thousands):

	Year Ended
	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	17,721
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	267,048

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

	As of
	December 31, 2019
Operating lease right-of-use assets	$	283,291
Included in accounts payable and accrued liabilities:
Operating lease liability, current		17,896
Operating lease liability, non-current		301,694
Total operating lease liability	$	319,590

Weighted Average Remaining Lease Term:
Operating leases (in years)	9.98
Weighted Average Discount Rate:
Operating leases		4.65	%

Future lease payments under operating leases as of December 31, 2019 were as follows (in thousands):

Year Ending December 31,	Operating Leases
2020	$	29,230
2021		47,035
2022		43,909
2023		44,655
2024		44,014
Thereafter		246,488
Total future lease payments		455,331
Less: imputed interest		(95,762	)
Less: expected tenant improvement allowance		(39,979	)
Total	$	319,590

As of December 31, 2019, the Company has additional operating leases, primarily corporate offices, that have not yet commenced of $6.6 million. These operating leases will commence in fiscal year 2020 with lease terms of 5 years to 11 years.

The following table summarizes the future minimum lease payments due under operating leases as of December 31, 2018 and reflect the application of the prior lease standard (ASC 840, Leases). These amounts were disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (in thousands):

Year Ending December 31,	Operating Leases
2019	$	16,817
2020		29,124
2021		32,034
2022		32,844
2023		33,414
Thereafter		223,472
Less: sublease income		(3,711	)
Total	$	363,994

Rent expense, under ASC 840, for the years ended December 31, 2018 and 2017 was $9.7 million and $6.9 million, respectively.