Lease Accounting (Tables)

12 Months Ended

Dec. 31, 2023

The components of lease expense were as follows (in thousands):


	Years Ended December 31,
	2023		2022		2021
Components of lease expense:
Operating lease cost (a)	$	44,971	$	52,331	$	59,405
Financing lease cost:
Depreciation	26,129		25,687		29,743
Interest on lease liabilities	444		3,063		7,135
Sublease income	(5,856)		(7,991)		(3,785)
Net lease expense	$	65,688	$	73,090	$	92,498

(a) Includes short-term lease and variable lease costs, which are immaterial.

Other information related to leases is as follows:


	Years Ended December 31,
	2023			2022			2021

Supplemental Cash Flow Information (in thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(35,510)		$	(42,949)		$	(52,226)
Financing cash flows from finance leases	$	(39,214)		$	(33,860)		$	(32,441)
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	6,244		$	7,889		$	50,886
Finance leases	$	59,276		$	18,694		$	24,567
Weighted-average remaining lease term (years)
Operating leases	10.6			11.1			11.7
Finance leases	3.9			3.3			3.6
Weighted-average discount rate
Operating leases	2.8		%	2.8		%	2.7		%
Finance leases	3.9		%	3.2		%	3.4		%

Future minimum lease payments under non-cancellable leases as of December 31, 2023 were as follows (in thousands):


Years ending December 31,	Operating Lease Payments		Finance Lease Payments		Total Lease Payments
2024	$	35,335	$	36,917	$	72,252
2025	31,328		24,554		55,882
2026	27,506		19,776		47,282
2027	25,050		14,732		39,782
2028	23,710		8,294		32,004
Thereafter	135,588		2,062		137,650
Total future minimum lease payments	$	278,517	$	106,335	$	384,852
Less: Interest	(38,266)		(9,158)		(47,424)
Total future minimum lease payments less interest	$	240,251	$	97,177	$	337,428

Future minimum lease payments under non-cancellable leases as of December 31, 2023 were as follows (in thousands):


Years ending December 31,	Operating Lease Payments		Finance Lease Payments		Total Lease Payments
2024	$	35,335	$	36,917	$	72,252
2025	31,328		24,554		55,882
2026	27,506		19,776		47,282
2027	25,050		14,732		39,782
2028	23,710		8,294		32,004
Thereafter	135,588		2,062		137,650
Total future minimum lease payments	$	278,517	$	106,335	$	384,852
Less: Interest	(38,266)		(9,158)		(47,424)
Total future minimum lease payments less interest	$	240,251	$	97,177	$	337,428

Future minimum lease payments due from our customers on leases as of December 31, 2023 were as follows (in thousands):