Leases (Tables)

3 Months Ended

Mar. 31, 2022

Future minimum lease payments under non-cancelable operating leases (with initial lease terms in excess of one year) as of March 31, 2022 are:

	As of March 31, 2022
Maturity of Lease Liabilities (in thousands)	Operating Leases (1)
Remainder of 2022	$	36,760
2023	40,223
2024	30,573
2025	21,766
2026	15,077
Thereafter	23,207
Total lease payments	$	167,606
Less: imputed interest	(4,963		)
Present value of lease liabilities	$	162,643

(1) Operating lease payments reflect our current fixed obligations under the operating lease agreements.

Lease expense recognized in the Consolidated Statements of Income is summarized as follows:

Lease Expense (in thousands)	Income Statement Classification	Three Months Ended March 31, 2022		Three Months Ended March 31, 2021
Operating lease expense	Selling, general and administrative and Direct operating costs	$	13,517	$	13,858
Short-term and variable lease expense	Selling, general and administrative and Direct operating costs		29,723		22,549
Total lease expense		$	43,240	$	36,407

Other information about lease amounts recognized in the consolidated financial statements is summarized as follows:


Lease Term and Discount Rate of Operating Leases	As of March 31, 2022
Weighted- average remaining lease term (years)	4.8
Weighted- average discount rate	2.3	%

The following table presents supplemental cash flow and non-cash information related to leases.


Other Information (in thousands)	Three Months Ended March 31, 2022		Three Months Ended March 31, 2021
Cash paid for amounts included in the measurement of lease liabilities (a)	$	13,521	$	13,669
Supplemental non-cash information on lease liabilities arising from obtaining ROU assets:
ROU assets obtained in exchange for new operating lease liabilities	$	15,207	$	28,188

(a) Included in Net cash provided by operating activities on our Consolidated Statements of Cash Flows.