Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.4
Leases (Tables)
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of components of lease expense and revenue

The components of lease expense and revenue were as follows (in thousands):

Year Ended

Year Ended

December 31, 2020

December 31, 2019

Operating lease expense

$

19,406

 

$

31,596

Variable lease expense

9,705

 

14,284

Short-term lease expense

11,076

 

50,832

Finance lease cost:

Amortization of right-of-use assets

1,924

 

1,765

Interest on lease liabilities

1,072

 

1,239

Operating lease revenue

173

 

446

Sublease income

1,616

 

1,615

Schedule of lease balances

Lease balances were as follows (in thousands):

    

Balance Sheet location

    

December 31, 2020

December 31, 2019

Operating leases

 

  

 

  

  

Right-of-use assets

 

Other long-term assets

$

209,037

$

236,604

Current operating lease liabilities

 

Accrued expenses and other liabilities

17,700

39,126

Non-current operating lease liabilities

 

Other long-term liabilities

185,414

207,243

Finance leases

 

  

  

Right-of-use assets

 

Property and equipment, net

11,948

13,873

Current finance lease liabilities

 

Current portion of long-term debt

5,143

6,419

Non-current finance lease liabilities

 

Long-term debt

4,648

8,812

Supplemental information related to leases

Supplemental cash flow and non-cash information related to leases was as follows (in thousands):

Year Ended

Year Ended

    

December 31, 2020

December 31, 2019

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash outflows from operating leases

 

$

70,555

$

75,539

Operating cash outflows from finance leases

 

898

1,051

Financing cash outflows from finance leases

 

4,078

2,826

Right-of-use assets obtained in exchange for lease obligations:

Operating leases

 

823

24,834

Finance leases

705

Other supplemental information related to leases was as follows:

Year Ended

Year Ended

    

December 31, 2020

December 31, 2019

Weighted average remaining lease term (years) - operating leases

 

7.36

 

8.30

Weighted average remaining lease term (years) - finance leases

 

2.89

3.65

Weighted average discount rate - operating leases

3.96

%  

3.76

%  

Weighted average discount rate - finance leases

7.75

%

7.47

%

Maturities of operating lease liabilities

As of December 31, 2020, maturities of lease liabilities were as follows (in thousands):

Operating

Finance 

 

    

leases

    

leases

 

2021

$

27,371

$

4,891

2022

 

32,105

 

3,910

2023

 

31,866

 

683

2024

 

32,065

 

630

2025

 

31,827

 

544

Thereafter

 

80,951

 

38

Total

 

236,185

10,696

Less: Present value discount

 

(33,071)

(905)

Present value of lease liabilities

$

203,114

$

9,791

Maturities of finance lease liabilities

As of December 31, 2020, maturities of lease liabilities were as follows (in thousands):

Operating

Finance 

 

    

leases

    

leases

 

2021

$

27,371

$

4,891

2022

 

32,105

 

3,910

2023

 

31,866

 

683

2024

 

32,065

 

630

2025

 

31,827

 

544

Thereafter

 

80,951

 

38

Total

 

236,185

10,696

Less: Present value discount

 

(33,071)

(905)

Present value of lease liabilities

$

203,114

$

9,791