Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

ROU Assets and Lease Liabilities By Lease Type

The following table presents the components of ROU assets and lease liabilities by lease type at March 31, 2019.

	March 31, 2019
	(in thousands)
ROU assets:
Operating leases	$	288,577
Finance leases	1,092
Total	$	289,669
Lease liabilities:
Operating leases	$	311,362
Finance leases	2,163
Total	$	313,525

Components of Lease, Supplemental Cash Flow and Supplemental Information

The following table presents the components by lease type, of total lease cost recognized in the consolidated statement of income for the three months ended March 31, 2019:

	Three Months Ended
	March 31, 2019
	(in thousands)
Finance lease cost:
Amortization of ROU assets	$	73
Interest on lease liabilities	52
Operating lease cost	6,974
Short-term lease cost	75
Variable lease cost	948
Sublease income	(903		)
Total lease cost (included in net occupancy and equipment expense)	$	7,219

The following table presents supplemental cash flow information related to leases for the three months ended March 31, 2019:

	Three Months Ended
	March 31, 2019
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,199
Operating cash flows from finance leases	52
Financing cash flows from finance leases	119

The following table presents supplemental information related to leases at March 31, 2019:

	March 31, 2019
Weighted-average remaining lease term
Operating leases	13.23 years
Finance leases	3.75 years
Weighted-average discount rate
Operating leases	3.72	%
Finance leases	8.25	%

Sales-type Leases

The following table presents a maturity analysis of lessor and lessee arrangements outstanding as of March 31, 2019:

	Lessor			Lessee
	Direct Financing and Sales-Type Leases			Operating Leases			Finance Leases
	(in thousands)
2019	$	86,787		$	26,352		$	513
2020	96,830			35,103			684
2021	80,580			34,295			684
2022	59,226			32,639			684
2023	37,135			29,195			—
Thereafter	23,260			244,608			—
Total lease payments	383,818			402,192			2,565
Less: present value discount	(33,823		)	(90,830		)	(402		)
Total	$	349,995		$	311,362		$	2,163

Direct Financing Leases

The following table presents a maturity analysis of lessor and lessee arrangements outstanding as of March 31, 2019:

	Lessor			Lessee
	Direct Financing and Sales-Type Leases			Operating Leases			Finance Leases
	(in thousands)
2019	$	86,787		$	26,352		$	513
2020	96,830			35,103			684
2021	80,580			34,295			684
2022	59,226			32,639			684
2023	37,135			29,195			—
Thereafter	23,260			244,608			—
Total lease payments	383,818			402,192			2,565
Less: present value discount	(33,823		)	(90,830		)	(402		)
Total	$	349,995		$	311,362		$	2,163

Finance Leases Maturity

The following table presents a maturity analysis of lessor and lessee arrangements outstanding as of March 31, 2019:

	Lessor			Lessee
	Direct Financing and Sales-Type Leases			Operating Leases			Finance Leases
	(in thousands)
2019	$	86,787		$	26,352		$	513
2020	96,830			35,103			684
2021	80,580			34,295			684
2022	59,226			32,639			684
2023	37,135			29,195			—
Thereafter	23,260			244,608			—
Total lease payments	383,818			402,192			2,565
Less: present value discount	(33,823		)	(90,830		)	(402		)
Total	$	349,995		$	311,362		$	2,163

Operating Lease Maturity

The following table presents a maturity analysis of lessor and lessee arrangements outstanding as of March 31, 2019:

	Lessor			Lessee
	Direct Financing and Sales-Type Leases			Operating Leases			Finance Leases
	(in thousands)
2019	$	86,787		$	26,352		$	513
2020	96,830			35,103			684
2021	80,580			34,295			684
2022	59,226			32,639			684
2023	37,135			29,195			—
Thereafter	23,260			244,608			—
Total lease payments	383,818			402,192			2,565
Less: present value discount	(33,823		)	(90,830		)	(402		)
Total	$	349,995		$	311,362		$	2,163

Minimum Aggregate Lease Payments In Accordance With Topic 840

The following table presents minimum aggregate lease payments in accordance with Topic 840 at March 31, 2018:

	Gross Rents		Sublease Income		Net Rents
	(in thousands)
2018	$	20,776	$	1,644	$	19,132
2019	27,570		2,124		25,446
2020	27,709		2,077		25,632
2021	26,872		2,009		24,863
2022	25,860		1,891		23,969
Thereafter	270,431		8,130		262,301
Total lease payments	$	399,218	$	17,875	$	381,343