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Leases (Tables)
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Lease assets and liabilities
Lease assets and liabilities are summarized as follows:

(in thousands)Financial Statement LocationDecember 31, 2020December 31, 2019
Operating leases
Operating lease right-of-use assetsOperating lease right-of-use assets$268,864 $314,526 
Operating lease liabilitiesOperating lease liabilities315,340 365,364 
Finance leases
Property and equipment, at costProperty, equipment, and capitalized software, net36,093 37,589 
Accumulated depreciationProperty, equipment, and capitalized software, net(24,585)(24,579)
Finance lease liabilitiesAccounts payable, accrued expenses, and other liabilities11,687 13,371 
Lease term, discount rate and components of lease expense
Weighted average remaining lease term and discount rate are as follows:

December 31, 2020December 31, 2019
Weighted average remaining lease term
Operating leases6.9 years7.5 years
Finance leases2.0 years1.5 years
Weighted average discount rate
Operating leases5.67 %5.70 %
Finance leases3.13 %3.52 %
The components of lease expense are as follows:

Years Ended December 31,
(in thousands)20202019
Operating lease cost:
Fixed$73,624 $72,714 
Variable8,532 8,333 
Impairment of ROU Asset6,003 27,104 
Total Operating lease cost88,159 108,151 
Sublease income16,437 12,590 
Finance lease cost:
Amortization of right-of-use assets11,536 12,565 
Interest on lease liabilities432 661 
Total Finance lease cost11,968 13,226 
Future minimum lease payments under operating leases
Future minimum lease payments under operating and finance leases with non-cancelable lease terms, as of December 31, 2020, are as follows:

(in thousands)Operating LeasesFinance Leases
2021$74,590 $6,774 
202267,979 4,035 
202364,621 1,438 
202435,393 — 
202527,495 — 
2026 and thereafter114,873 — 
Total lease payments$384,951 $12,247 
Less imputed interest(69,611)(560)
Total lease liability$315,340 $11,687 
Future minimum lease payments under finance leases
Future minimum lease payments under operating and finance leases with non-cancelable lease terms, as of December 31, 2020, are as follows:

(in thousands)Operating LeasesFinance Leases
2021$74,590 $6,774 
202267,979 4,035 
202364,621 1,438 
202435,393 — 
202527,495 — 
2026 and thereafter114,873 — 
Total lease payments$384,951 $12,247 
Less imputed interest(69,611)(560)
Total lease liability$315,340 $11,687