Leases (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Components of Lease Expenses

The components of lease expenses are as follows (in thousands):


	Three Months Ended March 31,
		2023		2022
Finance lease cost
Amortization of right-of-use assets (1)		$	42,530	$	40,123
Interest on lease liabilities		28,222		28,887
Total finance lease cost		70,752		69,010

Operating lease cost		53,406		51,630
Variable lease cost		12,808		7,616
Total lease cost		$	136,966	$	128,256

(1) Amortization of right-of-use assets is included within depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations.

Schedule of Other Information Related to Leases

Other information related to leases is as follows (in thousands, except years and percent):


	Three Months Ended March 31, 2023			Three Months Ended March 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	27,452		$	28,297
Operating cash flows from operating leases	52,227			47,970
Financing cash flows from finance leases	35,498			40,773

Right-of-use assets obtained in exchange for lease obligations: (1)
Finance leases	$	216		$	26,339
Operating leases	5,286			7,400

	As of March 31, 2023			As of December 31, 2022
Weighted-average remaining lease term - finance leases (2)	14 years			15 years
Weighted-average remaining lease term - operating leases (2)	12 years			12 years
Weighted-average discount rate - finance leases	6		%	6		%
Weighted-average discount rate - operating leases	4		%	4		%
Finance lease right-of-use assets (3)	$	1,978,005		$	2,018,070

(1) Represents all non-cash changes in right-of-use assets.

(2) Includes lease renewal options that are reasonably certain to be exercised.

(3) As of March 31, 2023 and December 31, 2022, we recorded accumulated amortization of finance lease right-of-use assets of $873.7 million and $840.0 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets.

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities as of March 31, 2023 are as follows (in thousands):


	Operating Leases		Finance Leases		Total
2023 (9 months remaining)	$	132,066	$	196,644	$	328,710
2024	192,566		258,510		451,076
2025	186,010		277,003		463,013
2026	181,221		245,510		426,731
2027	158,467		248,524		406,991
Thereafter	1,020,904		2,193,035		3,213,939
Total lease payments	1,871,234		3,419,226		5,290,460

Less imputed interest	(489,605)		(1,158,649)		(1,648,254)


Total	$	1,381,629	$	2,260,577	$	3,642,206

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities as of March 31, 2023 are as follows (in thousands):


	Operating Leases		Finance Leases		Total
2023 (9 months remaining)	$	132,066	$	196,644	$	328,710
2024	192,566		258,510		451,076
2025	186,010		277,003		463,013
2026	181,221		245,510		426,731
2027	158,467		248,524		406,991
Thereafter	1,020,904		2,193,035		3,213,939
Total lease payments	1,871,234		3,419,226		5,290,460

Less imputed interest	(489,605)		(1,158,649)		(1,648,254)


Total	$	1,381,629	$	2,260,577	$	3,642,206