LEASES

3 Months Ended

Mar. 31, 2022

LEASES

LEASES

NOTE F – LEASES

The Company leases, under finance and operating lease arrangements, certain facilities used primarily in the Asset-Based segment service center operations, certain revenue equipment used in the ArcBest segment operations, and certain other office equipment.

The components of operating lease expense were as follows:

	Three Months Ended
	March 31
	2022		2021
	(in thousands)
Operating lease expense	$	7,083	$	6,642
Variable lease expense		976		1,332
Sublease income		(161)		(155)
Total operating lease expense(1)	$	7,898	$	7,819

(1) Operating lease expense excludes short-term leases with a term of 12 months or less.

The operating cash flows from operating lease activity were as follows:

	Three Months Ended March 31
	2022		2021
	(in thousands)
Noncash change in operating right-of-use assets	$	6,171	$	5,741
Change in operating lease liabilities		(6,157)		(5,174)
Operating right-of-use-assets and lease liabilities, net	$	14	$	567
Cash paid for amounts included in the measurement of operating lease liabilities	$	(7,071)	$	(6,079)

Maturities of operating lease liabilities at March 31, 2022 were as follows:

					Equipment
			Land and		and
	Total		Structures(1)		Other
	(in thousands)
Remainder of 2022	$	20,810	$	20,656	$	154
2023		24,163		24,138		25
2024		21,651		21,651		—
2025		18,603		18,603		—
2026		16,487		16,487		—
Thereafter		41,351		41,351		—
Total lease payments		143,065		142,886		179
Less imputed interest		(12,475)		(12,474)		(1)
Total	$	130,590	$	130,412	$	178

(1) Excludes future minimum lease payments for leases which were executed but had not yet commenced as of March 31, 2022 of $81.4 million which will be paid over approximately 10-12 years.