Leases

3 Months Ended

Mar. 31, 2021

NOTE 3 — Leases

We lease certain real estate, vehicles, and equipment. Our leases have remaining lease terms of one to fifteen years, some of which may include options to extend the leases, and some of which may include options to terminate the leases. The exercise of lease renewal options is at our sole discretion. The depreciable lives of assets and leasehold improvements are limited by the expected lease term unless there is a transfer of title or purchase option reasonably certain of exercise.

As of March 31, 2021, our condensed consolidated balance sheets included $286.4 million of operating lease right-to-use assets, $42.6 million of short-term operating lease liabilities included in Other current liabilities, and $271.5 million of long-term operating lease liabilities.

The components of lease expense are as follows:


	Three months ended March 31,
In thousands		2021		2020
Operating lease cost (a)		$	23,755	$	23,884
Short-term lease cost (b)		142		3,142
Net lease cost		$	23,897	$	27,026

(a)Includes variable lease costs of $3.1 million and $4.3 million, respectively, and sublease income of $1.2 million and $1.1 million, respectively, for the three months ended March 31, 2021 and 2020.

(b)Excluding expenses relating to leases with a lease term of one month or less.

Future minimum lease payments under non-cancellable leases are as follows:


In thousands	Year ended December 31, (a)
2021 (excluding the three months ended March 31, 2021)	$	55,719
2022	77,522
2023	64,681
2024	57,723
2025	50,584
Thereafter	216,335
Total future minimum lease payments	522,564
Less: Imputed interest	(208,452)
Total	$	314,112

(a)Operating lease payments exclude $14.9 million of legally binding minimum lease payments for leases signed but not yet commenced.

Supplemental information related to leases is as follows:


	Three months ended March 31,
In thousands, except lease term and discount rate	2021			2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	21,935		$	16,771
Right-of-use assets obtained in exchange for operating lease obligations	9,053			1,238
Loss on sale and leaseback transactions, net	406			—

	As of March 31,
	2021			2020
Weighted-average remaining lease term (in years)	7.6			8.1
Weighted-average discount rate	12.90		%	12.45		%