Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

Note 4 — Leases

We charter vessels and lease facilities and equipment under non-cancelable contracts that expire on various dates through 2031. We also sublease some of our facilities under non-cancelable sublease agreements.

The following table details the components of our lease cost (in thousands):

	Three Months Ended
	March 31,
	2021		2020
Operating lease cost	$	16,216	$	16,323
Variable lease cost		3,484		3,212
Short-term lease cost		1,732		7,174
Sublease income		(349)		(279)
Net lease cost	$	21,083	$	26,430

Maturities of our operating lease liabilities as of March 31, 2021 are as follows (in thousands):

			Facilities and
	Vessels		Equipment		Total
Less than one year	$	52,620	$	5,825	$	58,445
One to two years		52,105		5,249		57,354
Two to three years		24,203		4,637		28,840
Three to four years		—		4,205		4,205
Four to five years		—		1,591		1,591
Over five years		—		3,884		3,884
Total lease payments	$	128,928	$	25,391	$	154,319
Less: imputed interest		(11,088)		(4,334)		(15,422)
Total operating lease liabilities	$	117,840	$	21,057	$	138,897
Current operating lease liabilities	$	45,598	$	4,723	$	50,321
Non-current operating lease liabilities		72,242		16,334		88,576
Total operating lease liabilities	$	117,840	$	21,057	$	138,897

Maturities of our operating lease liabilities as of December 31, 2020 are as follows (in thousands):

			Facilities and
	Vessels		Equipment		Total
Less than one year	$	54,621	$	6,028	$	60,649
One to two years		52,106		5,435		57,541
Two to three years		34,580		4,649		39,229
Three to four years		2,470		4,374		6,844
Four to five years		—		2,340		2,340
Over five years		—		4,054		4,054
Total lease payments	$	143,777	$	26,880	$	170,657
Less: imputed interest		(13,352)		(4,697)		(18,049)
Total operating lease liabilities	$	130,425	$	22,183	$	152,608
Current operating lease liabilities	$	46,748	$	4,851	$	51,599
Non-current operating lease liabilities		83,677		17,332		101,009
Total operating lease liabilities	$	130,425	$	22,183	$	152,608

The following table presents the weighted average remaining lease term and discount rate:

	March 31,		December 31,
	2021		2020
Weighted average remaining lease term	3.0	years	3.1	years
Weighted average discount rate	7.53	%	7.53	%

The following table presents other information related to our operating leases (in thousands):

	Three Months Ended
	March 31,
	2021		2020
Cash paid for operating lease liabilities	$	16,502	$	16,472
ROU assets obtained in exchange for new operating lease obligations		113		—