Leases (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2019.

	June 30, 2019
	(in thousands)
ROU assets:
Operating leases	$	282,329
Finance leases	1,019
Total	$	283,348
Lease liabilities:
Operating leases	$	305,364
Finance leases	2,041
Total	$	307,405

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 and six months ended June 30, 2019:

	Three Months Ended			Six Months Ended
	June 30, 2019			June 30, 2019
	(in thousands)
Finance lease cost:
Amortization of ROU assets	$	73		$	146
Interest on lease liabilities	49			101
Operating lease cost	8,949			15,923
Short-term lease cost	59			134
Variable lease cost	1,024			1,972
Sublease income	(783		)	(1,686		)
Total lease cost (included in net occupancy and equipment expense)	$	9,371		$	16,590

The following table presents supplemental cash flow information related to leases for the six months ended June 30, 2019:

	Six Months Ended
	June 30, 2019
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	16,896
Operating cash flows from finance leases	102
Financing cash flows from finance leases	240

The following table presents supplemental information related to leases at June 30, 2019:

	June 30, 2019
Weighted-average remaining lease term
Operating leases	13.08 years
Finance leases	3.50 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 June 30, 2019:

	Lessor			Lessee
	Direct Financing and Sales-Type Leases			Operating Leases			Finance Leases
	(in thousands)
2019	$	63,085		$	17,594		$	341
2020	108,188			35,006			684
2021	91,950			34,169			684
2022	70,058			32,625			684
2023	47,744			29,222			—
Thereafter	33,007			244,762			—
Total lease payments	414,032			393,378			2,393
Less: present value discount	(36,769		)	(88,014		)	(352		)
Total	$	377,263		$	305,364		$	2,041

Direct Financing Leases

The following table presents a maturity analysis of lessor and lessee arrangements outstanding as of June 30, 2019:

	Lessor			Lessee
	Direct Financing and Sales-Type Leases			Operating Leases			Finance Leases
	(in thousands)
2019	$	63,085		$	17,594		$	341
2020	108,188			35,006			684
2021	91,950			34,169			684
2022	70,058			32,625			684
2023	47,744			29,222			—
Thereafter	33,007			244,762			—
Total lease payments	414,032			393,378			2,393
Less: present value discount	(36,769		)	(88,014		)	(352		)
Total	$	377,263		$	305,364		$	2,041

Finance Leases Maturity

The following table presents a maturity analysis of lessor and lessee arrangements outstanding as of June 30, 2019:

	Lessor			Lessee
	Direct Financing and Sales-Type Leases			Operating Leases			Finance Leases
	(in thousands)
2019	$	63,085		$	17,594		$	341
2020	108,188			35,006			684
2021	91,950			34,169			684
2022	70,058			32,625			684
2023	47,744			29,222			—
Thereafter	33,007			244,762			—
Total lease payments	414,032			393,378			2,393
Less: present value discount	(36,769		)	(88,014		)	(352		)
Total	$	377,263		$	305,364		$	2,041

Operating Lease Maturity

The following table presents a maturity analysis of lessor and lessee arrangements outstanding as of June 30, 2019:

	Lessor			Lessee
	Direct Financing and Sales-Type Leases			Operating Leases			Finance Leases
	(in thousands)
2019	$	63,085		$	17,594		$	341
2020	108,188			35,006			684
2021	91,950			34,169			684
2022	70,058			32,625			684
2023	47,744			29,222			—
Thereafter	33,007			244,762			—
Total lease payments	414,032			393,378			2,393
Less: present value discount	(36,769		)	(88,014		)	(352		)
Total	$	377,263		$	305,364		$	2,041

Minimum Aggregate Lease Payments In Accordance With Topic 840

The following table presents minimum aggregate lease payments in accordance with Topic 840 at June 30, 2018:

	Gross Rents		Sublease Income		Net Rents
	(in thousands)
2018	$	13,731	$	1,092	$	12,639
2019	27,640		2,124		25,516
2020	27,785		2,077		25,708
2021	26,955		2,009		24,946
2022	25,948		1,891		24,057
Thereafter	271,054		8,130		262,924
Total lease payments	$	393,113	$	17,323	$	375,790