Leases

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Leases

Leases

The components of lease expense were as follows:

	Three Months Ended				Six Months Ended
	June 30				June 30
(In thousands)	2021		2020		2021		2020
Finance leases:
Amortization expense	$	474	$	367	$	949	$	738
Interest on lease liabilities	109		44		211		96
Operating leases	8,370		8,904		16,742		13,188
Variable and short-term lease expense	13,516		10,485		26,195		17,596
Sublease income	(2)		(48)		(51)		(98)
Total lease expense from continuing operations	$	22,467	$	19,752	$	44,046	$	31,520

Supplemental cash flow information related to leases was as follows:

	Six Months Ended
	June 30
(In thousands)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows from operating activities - Operating leases	$	16,363	$	12,384
Cash flows from financing activities - Finance leases	1,056		663
ROU assets obtained in exchange for lease obligations:
Operating leases	$	17,119	$	67,534
Finance leases	2,938		1,234

Supplemental balance sheet information related to leases was as follows: 

(In thousands)	June 30 2021		December 31 2020
Operating Leases:
Operating lease ROU assets	$	94,276	$	96,849
Current portion of operating lease liabilities	24,056		24,862
Operating lease liabilities	68,484		69,860
Finance Leases:
Property, plant and equipment, net	$	10,065	$	8,434
Current maturities of long-term debt	2,037		1,683
Long-term debt	8,538		6,867

Supplemental additional information related to leases was as follows:

	June 30 2021		December 31 2020
Other information:
Weighted average remaining lease term - Operating leases (in years)	7.62		8.00
Weighted average remaining lease term - Finance leases (in years)	7.22		8.20
Weighted average discount rate - Operating leases	5.9	%	6.1	%
Weighted average discount rate - Finance leases	4.9	%	5.1	%

Maturities of lease liabilities were as follows:

(In thousands)	Operating Leases		Finance Leases
Year Ending December 31:
2021 (excluding the six months ended June 30, 2021)	$	15,145	$	1,294
2022	25,899		2,368
2023	20,220		2,145
2024	14,110		1,963
2025	8,992		1,339
After 2025	34,607		3,618
Total lease payments	118,973		12,727
Less: Imputed interest	(26,433)		(2,152)
Total	$	92,540	$	10,575

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 June 30, 2021, the Company had additional finance leases for property and equipment that had not yet commenced with estimated finance lease obligations of approximately $2.0 million to recognize upon anticipated lease commencement in the third 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				Six Months Ended
	June 30				June 30
(In thousands)	2021		2020		2021		2020
Finance leases:
Amortization expense	$	474	$	367	$	949	$	738
Interest on lease liabilities	109		44		211		96
Operating leases	8,370		8,904		16,742		13,188
Variable and short-term lease expense	13,516		10,485		26,195		17,596
Sublease income	(2)		(48)		(51)		(98)
Total lease expense from continuing operations	$	22,467	$	19,752	$	44,046	$	31,520

Supplemental cash flow information related to leases was as follows:

	Six Months Ended
	June 30
(In thousands)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows from operating activities - Operating leases	$	16,363	$	12,384
Cash flows from financing activities - Finance leases	1,056		663
ROU assets obtained in exchange for lease obligations:
Operating leases	$	17,119	$	67,534
Finance leases	2,938		1,234

Supplemental balance sheet information related to leases was as follows: 

(In thousands)	June 30 2021		December 31 2020
Operating Leases:
Operating lease ROU assets	$	94,276	$	96,849
Current portion of operating lease liabilities	24,056		24,862
Operating lease liabilities	68,484		69,860
Finance Leases:
Property, plant and equipment, net	$	10,065	$	8,434
Current maturities of long-term debt	2,037		1,683
Long-term debt	8,538		6,867

Supplemental additional information related to leases was as follows:

	June 30 2021		December 31 2020
Other information:
Weighted average remaining lease term - Operating leases (in years)	7.62		8.00
Weighted average remaining lease term - Finance leases (in years)	7.22		8.20
Weighted average discount rate - Operating leases	5.9	%	6.1	%
Weighted average discount rate - Finance leases	4.9	%	5.1	%

Maturities of lease liabilities were as follows:

(In thousands)	Operating Leases		Finance Leases
Year Ending December 31:
2021 (excluding the six months ended June 30, 2021)	$	15,145	$	1,294
2022	25,899		2,368
2023	20,220		2,145
2024	14,110		1,963
2025	8,992		1,339
After 2025	34,607		3,618
Total lease payments	118,973		12,727
Less: Imputed interest	(26,433)		(2,152)
Total	$	92,540	$	10,575

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 June 30, 2021, the Company had additional finance leases for property and equipment that had not yet commenced with estimated finance lease obligations of approximately $2.0 million to recognize upon anticipated lease commencement in the third quarter of 2021. There are no material residual value guarantees or material restrictive covenants in any of the Company's leases.