Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lease, Cost

The Company’s total lease expense is comprised of the following:

	Three Months Ended			Six Months Ended
(In Thousands)	June 30, 2019			June 30, 2019
Finance Lease Cost:
Amortization of Right-of-Use Assets	$	440		$	906
Interest on Lease Liabilities	100			213
Total Finance Lease Cost:	540			1,119
Operating Lease Cost:
Operating Lease Cost Classified within Operating Expenses1	27,929			57,142
Operating Lease Cost Classified within Restructuring Expenses, Net	837			1,640
Sublease Receipts	(1,039		)	(1,771		)
Total Operating Lease Cost:	27,727			57,011
Total Lease Cost	$	28,267		$	58,130

¹ Includes short-term and variable lease costs, which are not significant.

Supplemental Cash Flow Information

Additional information regarding the Company’s leasing activities as a lessee is as follows:

	Six Months Ended
(In Thousands)	June 30, 2019
Cash Paid for Amounts Included in Measurement of Lease Liabilities:
Operating Cash Flows for Finance Leases	$	261
Operating Cash Flows for Operating Leases	62,541
Financing Cash Flows for Finance Leases	1,202
Total Cash Paid for Amounts Included in Measurement of Lease Liabilities	64,004
Right-of-Use Assets Obtained in Exchange for New Finance Lease Liabilities	—
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities, Net of Exercised Early Lease Termination Options	$	14,891

Assets And Liabilities, Lessee

Supplemental balance sheet information related to leases is as follows:

(In Thousands)	Balance Sheet Classification	June 30, 2019
Assets
Operating Lease Assets	Operating Lease Right-of-Use Assets	$	338,805
Finance Lease Assets	Property, Plant and Equipment, Net	2,116
Total Lease Assets		$	340,921
Liabilities
Operating Lease Liabilities	Operating Lease Liabilities	$	386,989
Finance Lease Liabilities	Debt	3,962
Total Lease Liabilities		$	390,951

Schedule of Weighted-Average Discount Rate and Weighted-Average Remaining Lease Term

Below is a summary of the weighted-average discount rate and weighted-average remaining lease term for the Company’s finance and operating leases:

	Weighted Average Discount Rate1		Weighted Average Remaining Lease Term (in years)
Finance Leases	5.9	%	1.5
Operating Leases	3.6	%	5.1

¹ Upon adoption of ASC 842, discount rates for existing operating leases were established as of January 1, 2019.

Operating Lease, Liability, Maturity

The table also includes a reconciliation of the future undiscounted cash flows to the present value of the finance and operating lease liabilities included in the condensed consolidated balance sheet.

(In Thousands)	Operating Leases		Finance Leases		Total
2019	$	55,063	$	1,327	$	56,390
2020	105,901		2,084		107,985
2021	83,319		853		84,172
2022	62,929		87		63,016
2023	42,406		—		42,406
Thereafter	76,525		—		76,525
Total Undiscounted Cash Flows	426,143		4,351		430,494
Less: Interest	39,154		389		39,543
Present Value of Lease Liabilities	$	386,989	$	3,962	$	390,951

Finance Lease, Liability, Maturity

The table also includes a reconciliation of the future undiscounted cash flows to the present value of the finance and operating lease liabilities included in the condensed consolidated balance sheet.

(In Thousands)	Operating Leases		Finance Leases		Total
2019	$	55,063	$	1,327	$	56,390
2020	105,901		2,084		107,985
2021	83,319		853		84,172
2022	62,929		87		63,016
2023	42,406		—		42,406
Thereafter	76,525		—		76,525
Total Undiscounted Cash Flows	426,143		4,351		430,494
Less: Interest	39,154		389		39,543
Present Value of Lease Liabilities	$	386,989	$	3,962	$	390,951