Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information Related to Leases [Table Text Block]

The following table summarizes the Company's lease assets and liabilities recorded in the consolidated balance sheet as of March 31, 2019 (dollars in thousands):

	Balance Sheet Location	March 31, 2019
Lease right-of-use assets:
Operating lease assets	Other assets	$	495,399
Finance lease assets, net	Property and equipment, net(a)	74,816
Total lease assets		$	570,215
Lease liabilities:
Current
Operating lease liabilities	Accrued expenses	$	62,759
Finance lease liabilities	Current portion of long-term debt	9,786
Non-current
Operating lease liabilities	Other long-term liabilities	431,218
Finance lease liabilities	Long-term debt, less current portion	60,955
Total lease liabilities		$	564,718

(a) Net of $25.6 million of accumulated amortization as of March 31, 2019, which was recognized in depreciation and amortization expense within the Company's consolidated statement of operations.

Lease, Cost [Table Text Block]

The following table summarizes the components of lease expense for the three months ended March 31, 2019 (dollars in thousands):

	Location of Amount Recognized in Earnings	Three Months Ended
		March 31, 2019
Finance leases:
Amortization of right-of-use assets	Depreciation and amortization	$	1,873
Interest on lease liability	Interest expense	826
Total finance lease cost		$	2,699
Operating leases:
Operating lease cost	Equipment rents/Trackage rights	$	21,760
Short-term lease cost	Equipment rents/Trackage rights	1,355
Variable lease cost	Equipment rents/Trackage rights	704
Sublease income (gross basis)	Operating revenues	(723		)
Total operating lease cost		$	23,096
Total lease cost		$	25,795

Finance Lease, Liability, Maturity [Table Text Block]

The maturities of lease liabilities under the New Standard based on the Company's reasonably certain holding period for each lease were as follows as of March 31, 2019 (dollars in thousands):

	Finance Leases		Operating Leases
Maturity of lease liabilities:
2019 (remainder)	$	7,590	$	65,831
2020	18,859		68,232
2021	9,886		60,260
2022	14,281		50,476
2023	9,969		42,357
Thereafter	20,726		536,872
Total lease payments	81,311		824,028
Less: Imputed interest	10,570		330,051
Total lease liabilities	$	70,741	$	493,977

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The maturities of lease liabilities under the New Standard based on the Company's reasonably certain holding period for each lease were as follows as of March 31, 2019 (dollars in thousands):

	Finance Leases		Operating Leases
Maturity of lease liabilities:
2019 (remainder)	$	7,590	$	65,831
2020	18,859		68,232
2021	9,886		60,260
2022	14,281		50,476
2023	9,969		42,357
Thereafter	20,726		536,872
Total lease payments	81,311		824,028
Less: Imputed interest	10,570		330,051
Total lease liabilities	$	70,741	$	493,977

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The following is a summary of future minimum lease payments based on the minimum non-cancelable lease term as required under previous guidance for capital and operating leases as of December 31, 2018 (dollars in thousands):

	Capital		Operating
2019	$	11,405	$	82,191
2020	17,261		63,062
2021	8,668		54,305
2022	9,625		44,739
2023	10,780		35,919
Thereafter	13,988		383,739
Total minimum payments	$	71,727	$	663,955

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

The following is a summary of future minimum lease payments based on the minimum non-cancelable lease term as required under previous guidance for capital and operating leases as of December 31, 2018 (dollars in thousands):

	Capital		Operating
2019	$	11,405	$	82,191
2020	17,261		63,062
2021	8,668		54,305
2022	9,625		44,739
2023	10,780		35,919
Thereafter	13,988		383,739
Total minimum payments	$	71,727	$	663,955

Other Supplemental Lease Information

The following table presents supplemental cash flow and other information for the Company's leases as of and for the three months ended March 31, 2019 (dollars in thousands):

	Three Months Ended
	March 31, 2019
Cash flow information:
Cash paid for operating leases included in operating activities	$	23,126
Cash paid for finance leases included in operating activities	$	722
Cash paid for finance leases included in financing activities	$	2,288
Weighted average remaining lease term (in years):
Operating leases	27.0
Finance leases	5.9
Weighted average discount rate:
Operating leases	3.9		%
Finance leases	5.0		%
New leases:
Right-of-use assets obtained in exchange for operating lease liabilities	$	15,038
Right-of-use assets obtained in exchange for finance lease liabilities	$	9,926