LEASES

6 Months Ended

Jun. 30, 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				Six Months Ended
	June 30				June 30
	2022		2021		2022		2021
	(in thousands)
Operating lease expense	$	7,367	$	6,584	$	14,450	$	13,226
Variable lease expense		1,068		963		2,044		2,295
Sublease income		(97)		(156)		(258)		(311)
Total operating lease expense(1)	$	8,338	$	7,391	$	16,236	$	15,210

(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:

	Six Months Ended June 30
	2022		2021
	(in thousands)
Noncash change in operating right-of-use assets	$	12,810	$	11,386
Change in operating lease liabilities		(12,696)		(10,625)
Operating right-of-use-assets and lease liabilities, net	$	114	$	761
Cash paid for amounts included in the measurement of operating lease liabilities	$	(14,334)	$	(12,446)

Maturities of operating lease liabilities at June 30, 2022 were as follows:

					Equipment
			Land and		and
	Total		Structures(1)		Other
	(in thousands)
Remainder of 2022	$	14,212	$	14,155	$	57
2023		25,496		25,471		25
2024		22,832		22,832		—
2025		19,480		19,480		—
2026		17,123		17,123		—
Thereafter		41,602		41,602		—
Total lease payments		140,745		140,663		82
Less imputed interest		(11,958)		(11,958)		—
Total	$	128,787	$	128,705	$	82

(1) Excludes future minimum lease payments for leases which were executed but had not yet commenced as of June 30, 2022 totaling $81.4 million which will be paid over approximately 10 and 12 years.