XML 30 R20.htm IDEA: XBRL DOCUMENT v3.19.1
LEASES
3 Months Ended
Mar. 31, 2019
LEASES  
LEASES

NOTE L — LEASES

 

The information pertaining to leases on the condensed consolidated balance sheet is as follows:

 

 

 

 

 

 

 

 

 

    

    

 

    

As of March 31,

(in thousands)

 

Classification

 

2019

Assets

 

 

  

 

 

  

Operating lease right-of-use assets

 

 

Operating lease right-of-use assets

 

$

103,676

Finance lease right-of-use assets

 

 

Other assets

 

 

541

Total lease assets

 

 

 

 

$

104,217

Liabilities

 

 

  

 

 

  

Current

 

 

  

 

 

  

Operating

 

 

Current portion of operating lease liabilities

 

$

33,675

Finance

 

 

Current portion of long-term debt

 

 

246

Noncurrent

 

 

  

 

 

  

Operating

 

 

Operating lease liabilities

 

 

83,693

Finance

 

 

Long-term debt, less current portion

 

 

321

Total lease liabilities

 

 

 

 

$

117,935

 

The components of lease cost recognized in the condensed consolidated statement of operations are as follows:

 

 

 

 

 

 

    

For the Three Months Ended

(in thousands)

 

March 31, 2019

Operating lease cost

 

$

10,836

Finance lease cost

 

 

  

Amortization of right-of-use assets

 

 

75

Interest on lease liabilities

 

 

 6

Sublease income

 

 

(33)

Short-term lease cost

 

 

368

Variable lease cost

 

 

1,217

Total lease cost

 

$

12,469

 

Future minimum rental payments, by year and in the aggregate, under operating and financing obligations with terms of one year or more at March 31, 2019 are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

    

Finance

    

Operating

    

 

 

(in thousands)

 

Leases

 

Leases

 

Total Leases

2019 (remainder of year)

 

$

206

 

$

29,609

 

$

29,815

2020

 

 

208

 

 

35,411

 

 

35,619

2021

 

 

136

 

 

26,294

 

 

26,430

2022

 

 

50

 

 

18,741

 

 

18,791

2023

 

 

 2

 

 

12,019

 

 

12,021

2024

 

 

 —

 

 

5,826

 

 

5,826

Thereafter

 

 

 —

 

 

4,593

 

 

4,593

Total future minimum lease payments

 

 

602

 

 

132,493

 

 

133,095

Imputed interest

 

 

(35)

 

 

(15,125)

 

 

(15,160)

Total

 

$

567

 

$

117,368

 

$

117,935

 

The lease term and discount rates are as follows:

 

 

 

 

 

 

    

For the Three Months Ended

 

 

 

March 31, 2019

 

Weighted average remaining lease term (years)

 

  

 

Operating leases

 

3.98

 

Finance leases

 

2.60

 

Weighted average discount rate

 

  

 

Operating leases

 

5.73

%

Finance leases

 

4.20

%

 

Supplemental cash flow information related to leases is as follows:

 

 

 

 

 

 

    

For the Three Months Ended

(in thousands)

 

March 31, 2019

Cash paid for amounts included in the measurement of lease liabilities:

 

 

  

Operating cash flows from operating leases

 

$

11,787

Operating cash flows from finance leases

 

 

 6

Financing cash flows from finance leases

 

 

80

Right-of-use assets obtained in exchange for lease obligations:

 

 

  

Operating leases

 

 

10,394

Finance leases

 

 

76

 

Future minimum rental payments, by year and in the aggregate, under operating and financing obligations with terms of one year or more at December 31, 2018 are as follows:

 

 

 

 

 

 

 

 

 

 

Operating

 

Capital

(in thousands)

    

Leases

    

Leases

2019

 

$

39,378

 

$

249

2020

 

 

29,641

 

 

175

2021

 

 

21,303

 

 

109

2022

 

 

14,479

 

 

28

2023

 

 

9,193

 

 

 —

Thereafter

 

 

10,008

 

 

 —

 

 

$

124,002

 

$

561