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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2019

Cumulative Effect of Adjustments for Adoption of Topic 842

The adoption of ASC 842, “Leases,” did not have a material effect on our unaudited condensed consolidated statements of income or our unaudited condensed consolidated statements of cash flows. The effect of the adoption of ASC 842, “Leases,” on our unaudited condensed consolidated balance sheets as of January 1, 2019 and June 30, 2019 was as follows:


	Before Impact of ASC 842		Effects of Adoption of ASC 842		After Impact of ASC 842
	December 31, 2018						January 1, 2019
Balance Sheet			(In thousands)
Assets:
Property and Equipment, net	$	1,178,489	$	(18,948)	$	1,159,541
Other Intangible Assets, net	69,705		(4,005)		65,700
Right-of-Use Assets	—		406,918		406,918

Liabilities:
Current lease liabilities	$	—	$	48,832	$	48,832
Other accrued liabilities	257,823		(1,987)		255,836
Long-Term Debt	918,779		(20,557)		898,222
Long-Term Lease Liabilities	—		370,647		370,647
Other Long-Term Liabilities	75,887		(2,508)		73,379
Deferred Income Taxes	33,178		(3,034)		30,144
Stockholders' Equity:
Retained earnings	$	670,691	$	(7,428)	$	663,263


	Adoption of ASC 842 as of January 1, 2019		New Leases		Modifications (1)		Amortization		As Reported June 30, 2019
	(In thousands)
Right-of-Use Assets:
Finance Leases	$	18,948	$	38	$	21,514	$	(1,572)	$	38,928
Operating Leases	387,970		—		(33,710)		(20,735)		333,525
Total Right-of-Use Assets	$	406,918	$	38	$	(12,196)	$	(22,307)	$	372,453

Current Lease Liabilities:
Finance Leases	$	728	$	3	$	4,552	$	(133)	$	5,150
Operating Leases	48,104		89		(1,615)		(2,101)		44,477
Total Current Lease Liabilities	$	48,832	$	92	$	2,937	$	(2,234)	$	49,627

Long-Term Lease Liabilities:
Finance Leases	$	19,829	$	35	$	16,935	$	(579)	$	36,220
Operating Leases	350,818		—		(32,200)		(19,609)		299,009
Total Long-Term Lease Liabilities	$	370,647	$	35	$	(15,265)	$	(20,188)	$	335,229

Lease Expenses


	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Lease Expense	(In thousands)
Finance lease expense:
Amortization of right-of-use assets	$	862	$	1,572
Interest on lease liabilities	1,339		2,515
Operating lease expense (1)	17,057		35,054
Short-term lease expense (1)	473		900
Variable lease expense	683		797
Sublease income	(3,806)		(7,384)
Total	$	16,608	$	33,454

(1) Included in operating cash flows in the accompanying unaudited condensed consolidated statements of cash flows.


	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
	(In thousands)
Other Information

Cash paid for amounts included in the measurement of lease liabilities:
Financing cash flows for finance leases	$	502	$	782
Operating cash flows for finance leases	$	1,339	$	2,515
Operating cash flows for operating leases	$	18,315	$	36,784
Right-of-use assets obtained in exchange for lease liabilities:
Finance leases	$	9,290	$	19,273
Operating leases (1)	$	1,541	$	(9,170)

(1) Includes the impact of reclassification of right-of-use assets from operating leases to finance leases due to remeasurement.


	June 30, 2019
Other Information
Weighted-average remaining lease term (in years):
Finance leases	11.22
Operating leases	9.66
Weighted-average discount rate:
Finance leases	18.33	%
Operating leases	6.87	%

Lessee, Operating Lease, Liability, Maturity


	Undiscounted Lease Cash Flows Under ASC 842 as of June 30, 2019
	Finance		Operating		Receipts from Subleases
Year Ending December 31,	(In thousands)
2019	$	6,965	$	33,956	$	(8,045)
2020	6,535		63,257		(11,545)
2021	6,667		55,960		(9,299)
2022	6,667		48,103		(6,612)
2023	6,719		46,335		(6,612)
Thereafter	49,922		235,548		(9,744)
Total	$	83,475	$	483,159	$	(51,857)

Less: Present value discount	(42,105)		(139,673)
Lease liabilities	$	41,370	$	343,486

For comparison purposes the following table provides the future minimum lease payments as presented in our Annual Report on Form 10-K for the year ended December 31, 2018 in accordance with ASC 840, “Leases,”.


	Undiscounted Lease Cash Flows Under ASC 842 as of December 31, 2018
	Finance		Operating		Receipts from Subleases
Year Ending December 31,	(In thousands)
2019	$	6,985	$	82,177	$	(13,430)
2020	7,165		66,023		(10,508)
2021	7,357		51,501		(8,534)
2022	7,374		37,152		(7,232)
2023	7,609		33,486		(7,013)
Thereafter	482,390		127,026		(13,116)
Total minimum lease payments (receipts)	$	518,880	$	397,365	$	(59,833)
Less: Present value discount	(498,291)
Lease liabilities	$	20,589
Current portion of lease liabilities	$	643
Long-term portion of lease liabilities	$	19,946

Finance Lease, Liability, Maturity


	Undiscounted Lease Cash Flows Under ASC 842 as of June 30, 2019
	Finance		Operating		Receipts from Subleases
Year Ending December 31,	(In thousands)
2019	$	6,965	$	33,956	$	(8,045)
2020	6,535		63,257		(11,545)
2021	6,667		55,960		(9,299)
2022	6,667		48,103		(6,612)
2023	6,719		46,335		(6,612)
Thereafter	49,922		235,548		(9,744)
Total	$	83,475	$	483,159	$	(51,857)

Less: Present value discount	(42,105)		(139,673)
Lease liabilities	$	41,370	$	343,486


	Undiscounted Lease Cash Flows Under ASC 842 as of December 31, 2018
	Finance		Operating		Receipts from Subleases
Year Ending December 31,	(In thousands)
2019	$	6,985	$	82,177	$	(13,430)
2020	7,165		66,023		(10,508)
2021	7,357		51,501		(8,534)
2022	7,374		37,152		(7,232)
2023	7,609		33,486		(7,013)
Thereafter	482,390		127,026		(13,116)
Total minimum lease payments (receipts)	$	518,880	$	397,365	$	(59,833)
Less: Present value discount	(498,291)
Lease liabilities	$	20,589
Current portion of lease liabilities	$	643
Long-term portion of lease liabilities	$	19,946