Leases, Commitments, Guarantees and Contingencies (Tables)

9 Months Ended

Sep. 30, 2022

Leases, Commitments, Guarantees and Contingencies

Summary of related terms and discount rates

	As of September 30, 2022
Weighted-average remaining lease term for operating leases	6.4 years
Weighted-average discount rate for operating leases	6.0%

Summary of lease costs

The Company’s lease costs for the three and nine months ended September 30, 2022 and 2021 included the following components (in thousands):

	For the three months ended September 30,				For the nine months ended September 30,
	2022		2021		2022		2021
Operating lease cost	$	21,697	$	23,370	$	65,360	$	67,582
Variable and short-term lease cost		765		976		2,588		3,256
Sublease income		(1,845)		(1,888)		(5,492)		(4,717)
Total lease cost	$	20,617	$	22,458	$	62,456	$	66,121

Schedule of future minimum rental payments for operating leases

The following table summarizes future minimum rental payments primarily related to leased aircraft required under operating leases that had initial or remaining non-cancelable lease terms as of September 30, 2022 (in thousands):

July 2022 through December 2022	$	22,328
2023		76,223
2024		33,452
2025		17,590
2026		15,491
Thereafter		72,872
	$	237,956

Summary of commitments and obligations

The following table summarizes the Company’s commitments and obligations as noted for each of the next five years and thereafter (in thousands):

	Total		Oct - Dec 2022		2023		2024		2025		2026		Thereafter
Operating lease payments for aircraft and facility obligations	$	237,956	$	22,328	$	76,223	$	33,452	$	17,590	$	15,491	$	72,872
Firm aircraft and spare engine commitments		244,425		104,088		85,670		26,896		27,771		—		—
Interest commitments (1)		565,683		32,824		126,265		108,355		88,733		69,670		139,836
Principal maturities on long-term debt		3,441,734		110,392		437,798		438,782		522,388		498,757		1,433,617
Total commitments and obligations	$	4,489,798	$	269,632	$	725,956	$	607,485	$	656,482	$	583,918	$	1,646,325

(1) At September 30, 2022, the Company’s long-term debt had fixed interest rates.