Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

Leases

The components of lease expense were as follows:

	Three Months Ended
	March 31
(In thousands)	2021		2020
Finance leases:
Amortization expense	$	475	$	371
Interest on lease liabilities	102		52
Operating leases	8,372		4,284
Variable and short-term lease expense	12,679		7,111
Sublease income	(49)		(50)
Total lease expense from continuing operations	$	21,579	$	11,768

Supplemental cash flow information related to leases was as follows:

	Three Months Ended
	March 31
(In thousands)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows from operating activities - Operating leases	$	8,092	$	3,789
Cash flows from financing activities - Finance leases	497		324
ROU assets obtained in exchange for lease obligations:
Operating leases	$	5,702	$	2,217
Finance leases	430		1,234

Supplemental balance sheet information related to leases was as follows: 

(In thousands)	March 31 2021		December 31 2020
Operating Leases:
Operating lease ROU assets	$	89,772	$	96,849
Current portion of operating lease liabilities	23,632		24,862
Operating lease liabilities	64,029		69,860
Finance Leases:
Property, plant and equipment, net	$	8,362	$	8,434
Current maturities of long-term debt	1,598		1,683
Long-term debt	6,901		6,867

Supplemental additional information related to leases was as follows:

	March 31 2021		December 31 2020
Other information:
Weighted average remaining lease term - Operating leases (in years)	7.61		8.00
Weighted average remaining lease term - Finance leases (in years)	8.02		8.20
Weighted average discount rate - Operating leases	5.9	%	6.1	%
Weighted average discount rate - Finance leases	5.1	%	5.1	%

Maturities of lease liabilities were as follows:

(In thousands)	Operating Leases		Finance Leases
Year Ending December 31:
2021 (excluding the three months ended March 31, 2021)	$	22,007	$	1,522
2022	24,262		1,788
2023	18,957		1,577
2024	13,224		1,405
2025	8,255		797
After 2025	33,206		3,429
Total lease payments	119,911		10,518
Less: Imputed interest	(32,250)		(2,019)
Total	$	87,661	$	8,499

The Company's leases, excluding short-term leases, have remaining terms of less than one year to 30 years, some of which include options to extend for up to 10 years, and some of which include options to terminate within one year. As of March 31, 2021, the Company had additional operating leases for property and equipment that have not yet commenced with estimated ROU assets and lease liabilities of $5.8 million to be recognized upon the anticipated lease commencements in the second quarter of 2021 There are no material residual value guarantees or material restrictive covenants in any of the Company's leases.

Leases

Leases

The components of lease expense were as follows:

	Three Months Ended
	March 31
(In thousands)	2021		2020
Finance leases:
Amortization expense	$	475	$	371
Interest on lease liabilities	102		52
Operating leases	8,372		4,284
Variable and short-term lease expense	12,679		7,111
Sublease income	(49)		(50)
Total lease expense from continuing operations	$	21,579	$	11,768

Supplemental cash flow information related to leases was as follows:

	Three Months Ended
	March 31
(In thousands)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows from operating activities - Operating leases	$	8,092	$	3,789
Cash flows from financing activities - Finance leases	497		324
ROU assets obtained in exchange for lease obligations:
Operating leases	$	5,702	$	2,217
Finance leases	430		1,234

Supplemental balance sheet information related to leases was as follows: 

(In thousands)	March 31 2021		December 31 2020
Operating Leases:
Operating lease ROU assets	$	89,772	$	96,849
Current portion of operating lease liabilities	23,632		24,862
Operating lease liabilities	64,029		69,860
Finance Leases:
Property, plant and equipment, net	$	8,362	$	8,434
Current maturities of long-term debt	1,598		1,683
Long-term debt	6,901		6,867

Supplemental additional information related to leases was as follows:

	March 31 2021		December 31 2020
Other information:
Weighted average remaining lease term - Operating leases (in years)	7.61		8.00
Weighted average remaining lease term - Finance leases (in years)	8.02		8.20
Weighted average discount rate - Operating leases	5.9	%	6.1	%
Weighted average discount rate - Finance leases	5.1	%	5.1	%

Maturities of lease liabilities were as follows:

(In thousands)	Operating Leases		Finance Leases
Year Ending December 31:
2021 (excluding the three months ended March 31, 2021)	$	22,007	$	1,522
2022	24,262		1,788
2023	18,957		1,577
2024	13,224		1,405
2025	8,255		797
After 2025	33,206		3,429
Total lease payments	119,911		10,518
Less: Imputed interest	(32,250)		(2,019)
Total	$	87,661	$	8,499

The Company's leases, excluding short-term leases, have remaining terms of less than one year to 30 years, some of which include options to extend for up to 10 years, and some of which include options to terminate within one year. As of March 31, 2021, the Company had additional operating leases for property and equipment that have not yet commenced with estimated ROU assets and lease liabilities of $5.8 million to be recognized upon the anticipated lease commencements in the second quarter of 2021 There are no material residual value guarantees or material restrictive covenants in any of the Company's leases.