LEASES (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
Leases [Abstract] |
|
Schedule of Supplemental Lease Balance Sheet Information |
The following table presents the Company's finance lease balances and their classification on the consolidated balance sheets (in thousands): | | | | | | | | | | | | | | | Finance Lease Balances (Classification) | | December 31, 2022 | | December 31, 2021 | ROU assets (Property, plant and equipment, net) | | $ | 96,207 | | | $ | 81,267 | | Current portion of lease liabilities (Accrued expenses) | | 12,767 | | | 10,893 | | Long-term portion of lease liabilities (Other long-term liabilities) | | 86,390 | | | 72,051 | |
|
Schedule of Lease Expense and Other Information |
The Company’s lease expense was as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | For the years ended December 31, | | | | 2022 | | 2021 | | 2020 | Operating lease cost | | | $ | 59,041 | | | $ | 50,264 | | | $ | 53,194 | | | | | | | | | | Finance lease cost: | | | | | | | | Amortization of ROU assets | | | 13,239 | | | 9,504 | | | 4,966 | | Interest on lease liabilities | | | 3,011 | | | 2,544 | | | 1,523 | | Total finance lease cost | | | 16,250 | | | 12,048 | | | 6,489 | | | | | | | | | | Short-term lease cost | | | 158,736 | | | 102,913 | | | 70,692 | | Variable lease cost | | | 4,353 | | | 3,546 | | | 3,691 | | Total lease cost | | | $ | 238,380 | | | $ | 168,771 | | | $ | 134,066 | |
Other information related to leases was as follows: | | | | | | | | | | | | | | | Weighted Average Remaining Lease Term (years) | | December 31, 2022 | | December 31, 2021 | Operating leases | | 4.2 | | 4.4 | Finance leases | | 7.5 | | 8.1 | | | | | | Weighted Average Discount Rate | | December 31, 2022 | | December 31, 2021 | Operating leases | | 4.08 | % | | 4.35 | % | Finance leases | | 3.53 | % | | 3.65 | % |
| | | | | | | | | | | | | | | | | | | | | | | For the years ended December 31, | Supplemental Cash Flow Related Disclosures (in thousands) | | 2022 | | 2021 | | 2020 | Cash paid for amounts related to lease liabilities: | | | | | | | Operating cash flows from operating leases | | $ | 61,014 | | | $ | 50,963 | | | $ | 53,498 | | Operating cash flows from finance leases | | 3,011 | | | 2,544 | | | 1,523 | | Financing cash flows from finance leases | | 12,821 | | | 8,458 | | | 4,469 | | ROU assets obtained in exchange for operating lease liabilities | | 58,230 | | | 55,556 | | | 34,358 | | ROU assets obtained in exchange for finance lease liabilities | | 29,205 | | | 30,476 | | | 32,526 | |
|
Schedule of Operating Lease Maturity |
At December 31, 2022, the Company's future lease payments under non-cancelable leases that have lease terms in excess of one year were as follows (in thousands): | | | | | | | | | | | | Years ending December 31, | December 31, 2022 | Operating Leases | | Finance Leases | 2023 | $ | 57,757 | | | $ | 17,085 | | 2024 | 45,478 | | | 16,423 | | 2025 | 32,739 | | | 15,748 | | 2026 | 23,791 | | | 15,761 | | 2027 | 14,635 | | | 15,748 | | Thereafter | 11,564 | | | 33,950 | | Total future lease payments | 185,964 | | | 114,715 | | Amount representing interest | (17,173) | | | (15,558) | | Total lease liabilities | $ | 168,791 | | | $ | 99,157 | |
|
Schedule of Finance Lease Maturity |
At December 31, 2022, the Company's future lease payments under non-cancelable leases that have lease terms in excess of one year were as follows (in thousands): | | | | | | | | | | | | Years ending December 31, | December 31, 2022 | Operating Leases | | Finance Leases | 2023 | $ | 57,757 | | | $ | 17,085 | | 2024 | 45,478 | | | 16,423 | | 2025 | 32,739 | | | 15,748 | | 2026 | 23,791 | | | 15,761 | | 2027 | 14,635 | | | 15,748 | | Thereafter | 11,564 | | | 33,950 | | Total future lease payments | 185,964 | | | 114,715 | | Amount representing interest | (17,173) | | | (15,558) | | Total lease liabilities | $ | 168,791 | | | $ | 99,157 | |
|