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Lease Commitments (Tables)
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Components of Lease Expense

The components of lease expense for the year ended December 31, 2019 are as follows (in thousands):

 

Twelve months ended

December 31,

 

 

2019

 

 

 

 

 

Operating lease cost

$

72,098

 

Variable and short term lease cost (a)

 

35,711

 

Total lease and rental expense

$

107,809

 

 

 

 

 

Finance lease cost:

 

 

 

Amortization of property under capital lease

$

1,877

 

Interest on debt of property under capital lease

 

1,876

 

Total finance lease cost

$

3,753

 

(a) Includes equipment, month-to-month and leases with a maturity of less than 12 months.

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases for the year ended December 31, 2019 are as follows (in thousands):

 

 

Twelve months ended

December 31,

 

 

2019

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

Operating cash flows from operating leases

$

107,239

 

Operating cash flows from finance leases

$

2,078

 

Financing cash flows from finance leases

$

1,959

 

 

 

 

 

Right-of-use assets obtained in exchange for lease obligations:

 

 

 

Operating leases

$

383,857

 

Finance leases

0

 

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases as of December 31, 2019 are as follows (in thousands):

 

December 31,

 

 

2019

 

 

 

 

 

Operating Leases

 

 

 

Right of use assets-operating leases

$

326,518

 

 

 

 

 

Operating lease liabilities

$

56,442

 

Operating lease liabilities noncurrent

 

270,076

 

Total operating lease liabilities

$

326,518

 

 

 

 

 

Finance Leases

 

 

 

Property and equipment

$

38,582

 

Accumulated depreciation

 

(26,610

)

Property and equipment, net

$

11,972

 

 

 

 

 

Current maturities of long-term debt

$

1,650

 

Long-term debt

 

16,359

 

Total finance lease liabilities

$

18,009

 

 

 

 

 

Weighted Average remaining lease term, years

 

 

 

Operating leases

 

9.7

 

Finance leases

 

6.9

 

 

 

 

 

Weighted Average discount rate

 

 

 

Operating leases

 

4.7

%

Finance leases

 

9.8

%

Future Maturities of Lease Liabilities

Future maturities of lease liabilities as of December 31, 2019 are as follows (in thousands):

 

Operating Leases

 

 

Finance Leases

 

Year ending December 31,

 

 

 

 

 

 

 

2020

$

68,703

 

 

$

3,375

 

2021

 

62,017

 

 

 

3,257

 

2022

 

51,178

 

 

 

3,559

 

2023

 

46,327

 

 

 

3,654

 

2024

 

40,498

 

 

 

3,752

 

Later years

 

148,928

 

 

 

8,380

 

Total lease payments

 

417,651

 

 

 

25,977

 

less imputed interest

 

(91,133

)

 

 

(7,968

)

Total

$

326,518

 

 

$

18,009

 

Future Minimum Rental Payments Under Lease Commitments

We assumed no finance leases in 2019.

 

Future minimum rental payments under lease commitments with a term of more than one year as of December 31, 2018, prior to our adoption of ASC 842 are as follows (amounts in thousands):

Year

 

Capital

Leases

 

 

Operating

Leases

 

2019

 

$

3,996

 

 

$

72,353

 

2020

 

 

3,345

 

 

 

59,492

 

2021

 

 

3,227

 

 

 

48,891

 

2022

 

 

3,508

 

 

 

35,233

 

2023

 

 

3,624

 

 

 

28,839

 

Later years

 

 

12,070

 

 

 

123,039

 

Total minimum rental

 

$

29,770

 

 

$

367,847

 

Less: Amount representing interest

 

 

(9,829

)

 

 

 

 

Present value of minimum rental commitments

 

 

19,941

 

 

 

 

 

Less: Current portion of capital lease obligations

 

 

(2,128

)

 

 

 

 

Long-term portion of capital lease obligations

 

$

17,813