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Leases | 12 Months Ended
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Dec. 31, 2021
Leases [Abstract] |
Leases | 12 Leases As of December 31 , 2021 and 2020 , the Company had lease agreements that expire at various dates through 2034 , with weighted-average remaining lease terms of 4.7 years and 5.2 years, respectively. Rental expense was $ 34 million, $ 38 million and $ 36 million for the years ended December 31 , 2021 , 2020 and 2019 , respectively. As of December 31 , 2021 and 2020 , the weighted-average discount rates used to determine the present value of lease liabilities were 3.04 % and 3.50 %, respectively. During the years ended December 31 , 2021 , 2020 and 2019 , cash paid for amounts included in the measurement of lease liabilities in operating activities in the statement of cash flows was $ 34 million, $ 38 million and $ 36 million, respectively. The Company recorded $ 3 million, $ 16 million and $ 118 million right-of-use assets in exchange for new operating lease liabilities during the years ended December 31 , 2021 , 2020 and 2019 , respectively. The Company’s right-of-use lease assets and lease liabilities included in the consolidated balance sheets are classified as follows (in thousands):
|  |  |  | December 31, |
|  | Financial Statement Classification |  | 2021 |  |  | 2020 |
Assets: |  |  |  |  |  |  |  |  |  |
Property operating lease assets |  | Operating lease assets |  | $ | 55,774 |  |  | $ | 62,374 |
Automobile operating lease assets |  | Operating lease assets |  |  | 28,236 |  |  |  | 29,694 |
Equipment operating lease assets |  | Operating lease assets |  |  | 724 |  |  |  | 1,184 |
Total lease assets |  |  |  | $ | 84,734 |  |  | $ | 93,252 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Current operating lease liabilities |  | Current operating lease liabilities |  | $ | 27,906 |  |  | $ | 27,764 |
Long-term operating lease liabilities |  | Long-term operating lease liabilities |  |  | 59,623 |  |  |  | 68,197 |
Total lease liabilities |  |  |  | $ | 87,529 |  |  | $ | 95,961 |
Undiscounted future minimum rents payable as of December 31, 2021 under non-cancelable leases with initial terms exceeding one year reconcile to lease liabilities included in the consolidated balance sheet as follows (in thousands):
2022 |  | $ | 29,311 |
2023 |  |  | 20,763 |
2024 |  |  | 14,688 |
2025 |  |  | 10,642 |
2026 |  |  | 7,107 |
2027 and thereafter |  |  | 11,072 |
Total future minimum lease payments |  |  | 93,583 |
Less: amount of lease payments representing interest |  |  | (6,054 | )
Present value of future minimum lease payments |  |  | 87,529 |
Less: current operating lease liabilities |  |  | (27,906 | )
Long-term operating lease liabilities |  | $ | 59,623 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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