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 |
|
|