Leases

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Leases

Leases

The components of lease expense were as follows:

	Three Months Ended				Nine Months Ended
	September 30				September 30
(In thousands)	2021		2020		2021		2020
Finance leases:
Amortization expense	$	743	$	377	$	1,692	$	1,115
Interest on lease liabilities	129		43		340		139
Operating leases	8,554		8,558		25,296		21,745
Variable and short-term lease expense	12,756		11,572		38,952		29,169
Sublease income	(1)		(51)		(52)		(150)
Total lease expense from continuing operations	$	22,181	$	20,499	$	66,228	$	52,018

Supplemental cash flow information related to leases was as follows:

	Nine Months Ended
	September 30
(In thousands)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows from operating activities - Operating leases	$	24,747	$	20,512
Cash flows from financing activities - Finance leases	1,978		997
ROU assets obtained in exchange for lease obligations:
Operating leases	$	29,190	$	62,507
Finance leases	5,911		1,613

Supplemental balance sheet information related to leases was as follows: 

(In thousands)	September 30 2021		December 31 2020
Operating Leases:
Operating lease ROU assets	$	98,841	$	96,849
Current portion of operating lease liabilities	25,112		24,862
Operating lease liabilities	72,090		69,860
Finance Leases:
Property, plant and equipment, net	$	12,508	$	8,434
Current maturities of long-term debt	2,724		1,683
Long-term debt	10,011		6,867

Supplemental additional information related to leases was as follows:

	September 30 2021		December 31 2020
Other information:
Weighted average remaining lease term - Operating leases (in years)	7.44		8.00
Weighted average remaining lease term - Finance leases (in years)	6.41		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 nine months ended September 30, 2021)	$	8,027	$	849
2022	28,602		3,220
2023	22,897		3,001
2024	16,537		2,615
2025	11,284		1,576
After 2025	36,936		3,754
Total lease payments	124,283		15,015
Less: Imputed interest	(27,081)		(2,280)
Total	$	97,202	$	12,735

The Company's leases, excluding short-term leases, have remaining terms of less than one year to 29 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 September 30, 2021, the Company had additional operating leases for property and equipment that had not yet commenced with estimated operating lease obligations of approximately $11.8 million to recognize upon anticipated lease commencement in the fourth quarter of 2021 through the second quarter of 2022. 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				Nine Months Ended
	September 30				September 30
(In thousands)	2021		2020		2021		2020
Finance leases:
Amortization expense	$	743	$	377	$	1,692	$	1,115
Interest on lease liabilities	129		43		340		139
Operating leases	8,554		8,558		25,296		21,745
Variable and short-term lease expense	12,756		11,572		38,952		29,169
Sublease income	(1)		(51)		(52)		(150)
Total lease expense from continuing operations	$	22,181	$	20,499	$	66,228	$	52,018

Supplemental cash flow information related to leases was as follows:

	Nine Months Ended
	September 30
(In thousands)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows from operating activities - Operating leases	$	24,747	$	20,512
Cash flows from financing activities - Finance leases	1,978		997
ROU assets obtained in exchange for lease obligations:
Operating leases	$	29,190	$	62,507
Finance leases	5,911		1,613

Supplemental balance sheet information related to leases was as follows: 

(In thousands)	September 30 2021		December 31 2020
Operating Leases:
Operating lease ROU assets	$	98,841	$	96,849
Current portion of operating lease liabilities	25,112		24,862
Operating lease liabilities	72,090		69,860
Finance Leases:
Property, plant and equipment, net	$	12,508	$	8,434
Current maturities of long-term debt	2,724		1,683
Long-term debt	10,011		6,867

Supplemental additional information related to leases was as follows:

	September 30 2021		December 31 2020
Other information:
Weighted average remaining lease term - Operating leases (in years)	7.44		8.00
Weighted average remaining lease term - Finance leases (in years)	6.41		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 nine months ended September 30, 2021)	$	8,027	$	849
2022	28,602		3,220
2023	22,897		3,001
2024	16,537		2,615
2025	11,284		1,576
After 2025	36,936		3,754
Total lease payments	124,283		15,015
Less: Imputed interest	(27,081)		(2,280)
Total	$	97,202	$	12,735

The Company's leases, excluding short-term leases, have remaining terms of less than one year to 29 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 September 30, 2021, the Company had additional operating leases for property and equipment that had not yet commenced with estimated operating lease obligations of approximately $11.8 million to recognize upon anticipated lease commencement in the fourth quarter of 2021 through the second quarter of 2022. There are no material residual value guarantees or material restrictive covenants in any of the Company's leases.