Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to our leases is as follows (dollars in thousands):

		December 31,
Category	Classification	2021		2020
Assets
Operating	Operating lease assets	$	1,046,377	$	1,020,352
Financing	Other assets, net	110,809		117,805
Total leased assets		$	1,157,186	$	1,138,157
Liabilities
Current:
Operating	Operating lease liabilities	$	232,423	$	208,526
Financing	Other current liabilities	38,103		39,298
Non-current:
Operating	Non-current operating lease liabilities	1,116,562		1,116,795
Financing	Other liabilities	73,257		78,881
Total lease liabilities		$	1,460,345	$	1,443,500

Schedule of Components of Lease Costs

Components of lease cost are as follows (dollars in thousands):

		Year Ended December 31,
Component	Classification	2021		2020
Operating lease cost	Operating, administrative and other	$	196,685	$	204,415
Financing lease cost:
Amortization of right-to-use assets	(1)	36,376		38,568
Interest on lease liabilities	Interest expense	1,301		1,847
Variable lease cost	(2)	70,091		74,332
Sublease income	Revenue	(2,271)		(2,643)
Total lease cost		$	302,182	$	316,519

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(1)Amortization costs of $31.9 million and $32.7 million from vehicle finance leases utilized in client outsourcing arrangements are included in the “Cost of revenue” line item in the accompanying consolidated statements of operations for the years ended December 31, 2021 and 2020, respectively. Amortization costs of $4.4 million and $5.9 million from all other finance leases are included in the “Depreciation and amortization” line item in the accompanying consolidated statements of operations for the years ended December 31, 2021 and 2020, respectively.

(2)Variable lease costs of $16.8 million and $17.1 million from leases in client outsourcing arrangements are included in the “Cost of revenue” line item in the accompanying consolidated statements of operations for the years ended December 31, 2021 and 2020, respectively. Variable lease costs of $53.3 million and $55.6 million from all other leases are included in the “Operating, administrative, and other” line item in the accompanying consolidated statements of operations for the years ended December 31, 2021 and 2020, respectively.

Schedule of Weighted Average Remaining Lease Term and Discount Rate for Operating Leases

Weighted average remaining lease term and discount rate for our operating and finance leases are as follows:

	December 31,
	2021	2020
Weighted-average remaining lease term:
Operating leases	8 years	8 years
Financing leases (1)	72 years	71 years
Weighted-average discount rate:
Operating leases	2.9%	3.1%
Financing leases (1)	5.0%	5.0%

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(1)Finance leases as of December 31, 2021 and 2020 included a 99 year lease on a real estate under development. If excluded, the weighted-average remaining lease term and weighted-average discount rate would be 3 years and 1.8%, respectively, as of December 31, 2021 and 3 years and 2.1%, respectively, as of December 31, 2020.

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities by fiscal year as of December 31, 2021 are as follows (dollars in thousands):

	Operating Leases		Financing Leases
2022	$	233,249	$	38,058
2023	227,269		31,013
2024	202,485		19,774
2025	185,185		8,027
2026	153,623		2,335
Thereafter	513,462		222,142
Total remaining lease payments at December 31, 2021	1,515,273		321,349
Less: Interest	166,288		209,989
Present value of lease liabilities at December 31, 2021	$	1,348,985	$	111,360

Supplemental Cash Flow Information and Non-Cash Activity Related to Operating Leases

Supplemental cash flow information and non-cash activity related to our operating and finance leases are as follows (dollars in thousands):

	Year Ended December 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	202,690	$	170,317
Operating cash flows from financing leases	2,876		2,077
Financing cash flows from financing leases	41,211		40,304
Right-of-use assets obtained in exchange for new operating lease liabilities	199,275		177,384
Right-of-use assets obtained in exchange for new financing lease liabilities	39,460		61,218
Other non-cash increases (decreases) in operating lease right-of-use assets (1)	12,126		(17,621)
Other non-cash decreases in financing lease right-of-use assets (1)	(2,754)		(1,233)

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(1)The non-cash activity in the right-of-use assets resulted from lease modifications and remeasurements.