Leases

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Leases

6.        Leases

We have operating and finance leases with terms of 1 year to 16 years for certain revenue and service equipment and office and terminal facilities.

The table below presents the lease-related assets and liabilities recorded on the balance sheet (in thousands):

Leases	Classification	September 30, 2021
Assets
Operating	Operating lease right-of-use assets	$	275,247
Finance	Property and equipment, net		7,824
Total leased assets		$	283,071
Liabilities
Current
Operating	Current portion of operating lease liabilities	$	82,015
Finance	Current maturities of long-term debt and finance leases		1,501
Noncurrent
Operating	Noncurrent operating lease liabilities		194,525
Finance	Long-term debt and finance leases, net of current maturities		7,021
Total lease liabilities		$	285,062

The table below presents certain information related to the lease costs for finance and operating leases (in thousands):

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
Lease Cost	Classification	2021		2020		2021		2020
Operating lease cost	Vehicle rents and General and other operating	$	23,255	$	20,902	$	69,518	$	64,445
Finance lease cost:
Amortization of finance lease assets	Depreciation and amortization		355		439		1,326		1,319
Interest on lease liabilities	Interest expense		117		138		388		452
Short-term lease cost	Vehicle rents and General and other operating		1,399		2,358		3,962		6,156
Total lease cost		$	25,126	$	23,837	$	75,194	$	72,372

	Nine Months Ended
	September 30,
Cash Flow Information	2021		2020
Cash paid for operating leases included in operating activities	$	69,518	$	64,445
Cash paid for finance leases included in operating activities	$	388	$	452
Cash paid for finance leases included in financing activities	$	1,538	$	3,746
Operating lease right-of-use assets obtained in exchange for lease obligations	$	48,959	$	66,526

Noncash lease expense was $70.6 million and $64.7 million during the nine months ended September 30, 2021 and 2020, respectively.

	September 30, 2021
	Weighted‑Average	Weighted-
	Remaining Lease	Average
Lease Term and Discount Rate	Term (years)	Discount Rate
Operating leases	4.8	3.9	%
Finance leases	8.1	4.7	%
	September 30, 2020
	Weighted‑Average	Weighted-
	Remaining Lease	Average
Lease Term and Discount Rate	Term (years)	Discount Rate
Operating leases	4.7	4.1	%
Finance leases	2.9	5.4	%

As of September 30, 2021, future maturities of lease liabilities were as follows (in thousands):

	September 30, 2021
	Finance		Operating
2021	$	485	$	23,198
2022		1,948		89,779
2023		1,962		74,192
2024		850		44,811
2025		568		25,968
Thereafter		4,580		48,541
		10,393		306,489
Less: Amount representing interest		(1,871)		(29,949)
Total	$	8,522	$	276,540

We lease tractors to independent contractors under operating leases and recognized lease income under these leases of $5.7 million and $9.0 million for the three months ended September 30, 2021 and 2020, respectively, and $20.4 million and $31.1 million for the nine months ended September 30, 2021 and 2020, respectively.