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Leases (Tables) | 6 Months Ended
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Jun. 30, 2020
Leases [Abstract] |
Components of lease expenses | The components of lease expenses are as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Finance lease cost |  |  |  |  |  |  |
Amortization of right-of-use assets (1) | $ | 28,897 |  |  | 19,811 |  |  | $ | 54,062 |  |  | $ | 39,897 |
Interest on lease liabilities | 28,438 |  |  | 27,111 |  |  | 56,263 |  |  | 54,634 |
Total finance lease cost | 57,335 |  |  | 46,922 |  |  | 110,325 |  |  | 94,531 |
Operating lease cost | 52,556 |  |  | 54,920 |  |  | 106,347 |  |  | 106,559 |
Total lease cost | $ | 109,891 |  |  | $ | 101,842 |  |  | $ | 216,672 |  |  | $ | 201,090 |
(1) Amortization of right-of-use assets is included with depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations.
Other information related to leases | Other information related to leases is as follows (in thousands):
| Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from finance leases | $ | 54,417 |  | $ | 52,701 |
Operating cash flows from operating leases | 102,146 |  | 101,875 |
Financing cash flows from finance leases | 42,681 |  | 43,112 |
Right-of-use assets obtained in exchange for lease obligations: (1) |  |
Finance leases | $ | 311,951 |  | $ | 2,597 |
Operating leases | 14,114 |  | 77,905 |
| As of June 30, 2020 | As of December 31, 2019
Weighted-average remaining lease term - finance leases (2) | 15 years |  | 15 years |
Weighted-average remaining lease term - operating leases (2) | 13 years |  | 13 years |
Weighted-average discount rate - finance leases | 8 | % | 9 | %
Weighted-average discount rate - operating leases | 4 | % | 4 | %
Finance lease assets (3) | $ | 1,516,351 |  | $ | 1,277,614 |
(1) Represents all non-cash changes in ROU assets. (2) Includes lease renewal options that are reasonably certain to be exercised. (3) As of June 30, 2020 and December 31, 2019, the Company recorded accumulated amortization of finance lease assets of $528.6 million and $474.8 million, respectively. Finance lease assets are recorded within property, plant and equipment, net on the condensed consolidated balance sheets.
Maturities of lease liabilities | Maturities of lease liabilities as of June 30, 2020 are as follows (in thousands):
| Operating Leases |  | Finance Leases |  | Total
2020 (6 months remaining) | $ | 87,527 |  |  | $ | 95,454 |  |  | $ | 182,981 |
2021 | 192,368 |  |  | 205,435 |  |  | 397,803 |
2022 | 184,049 |  |  | 202,461 |  |  | 386,510 |
2023 | 168,561 |  |  | 197,071 |  |  | 365,632 |
2024 | 156,627 |  |  | 194,842 |  |  | 351,469 |
Thereafter | 1,094,015 |  |  | 1,975,440 |  |  | 3,069,455 |
Total lease payments | 1,883,147 |  |  | 2,870,703 |  |  | 4,753,850 |
Plus amount representing residual property value | — |  |  | 17,626 |  |  | 17,626 |
Less imputed interest | (499,952 | ) |  | (1,127,481 | ) |  | (1,627,433 | )
Total | $ | 1,383,195 |  |  | $ | 1,760,848 |  |  | $ | 3,144,043 |
Maturities of lease liabilities | Maturities of lease liabilities as of June 30, 2020 are as follows (in thousands):
| Operating Leases |  | Finance Leases |  | Total
2020 (6 months remaining) | $ | 87,527 |  |  | $ | 95,454 |  |  | $ | 182,981 |
2021 | 192,368 |  |  | 205,435 |  |  | 397,803 |
2022 | 184,049 |  |  | 202,461 |  |  | 386,510 |
2023 | 168,561 |  |  | 197,071 |  |  | 365,632 |
2024 | 156,627 |  |  | 194,842 |  |  | 351,469 |
Thereafter | 1,094,015 |  |  | 1,975,440 |  |  | 3,069,455 |
Total lease payments | 1,883,147 |  |  | 2,870,703 |  |  | 4,753,850 |
Plus amount representing residual property value | — |  |  | 17,626 |  |  | 17,626 |
Less imputed interest | (499,952 | ) |  | (1,127,481 | ) |  | (1,627,433 | )
Total | $ | 1,383,195 |  |  | $ | 1,760,848 |  |  | $ | 3,144,043 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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