Leases (Tables)

12 Months Ended

Dec. 31, 2020

The components of lease costs in the accompanying consolidated statements of operations are as follows (in thousands):


		Year Ended December 31,
Lease cost	Classification	2020		2019
Finance lease cost:
Amortization of lease assets	Depreciation (1)	$	1,234	$	1,393
Interest on lease liabilities	Interest expense	107		64
Operating lease cost	Cost of services and Selling, general and administrative expenses	116,672		121,767
Short-term and variable lease cost (2)	Cost of services and Selling, general and administrative expenses	656,649		837,244
Total lease cost		$	774,662	$	960,468

(1) Depreciation is included within “Cost of services” and “Selling, general and administrative expenses” in the accompanying consolidated statements of operations.

(2) Short-term lease cost includes both leases and rentals with initial terms of one year or less. Variable lease cost is insignificant and primarily relates to real estate leases and consists of common area maintenance charges, real estate taxes, insurance and other variable costs.

Components of Leases in the Balance Sheet

The components of leases in the accompanying consolidated balance sheet were as follows (in thousands):


		December 31,
Lease type	Classification	2020		2019
Assets:
Operating lease right-of-use assets	Operating lease right-of-use assets	$	256,845	$	284,369
Finance lease assets	Property and equipment, net of accumulated depreciation	2,370		1,043
Total lease assets		$	259,215	$	285,412
Liabilities:
Current:
Operating	Current portion of operating lease liabilities	$	85,134	$	92,475
Finance	Current maturities of long-term debt and short-term debt	846		440

Non-current:
Operating	Operating lease liabilities, net of current portion	178,822		196,521
Finance	Long-term debt, net of current maturities	1,382		517
Total lease liabilities		$	266,184	$	289,953

Future Minimum Lease Payments - Operating Leases

Future minimum lease payments for operating and finance leases were as follows (in thousands):


	As of December 31, 2020
	Operating Leases		Finance Leases		Total
2021	$	94,166	$	920	$	95,086
2022	68,284		690		68,974
2023	47,872		493		48,365
2024	29,362		264		29,626
2025	18,685		—		18,685
Thereafter	30,311		—		30,311
Total future minimum operating and finance lease payments	288,680		2,367		291,047
Less imputed interest	(24,724)		(139)		(24,863)
Total lease liabilities	$	263,956	$	2,228	$	266,184

Future Minimum Lease Payments - Finance Leases

Future minimum lease payments for operating and finance leases were as follows (in thousands):


	As of December 31, 2020
	Operating Leases		Finance Leases		Total
2021	$	94,166	$	920	$	95,086
2022	68,284		690		68,974
2023	47,872		493		48,365
2024	29,362		264		29,626
2025	18,685		—		18,685
Thereafter	30,311		—		30,311
Total future minimum operating and finance lease payments	288,680		2,367		291,047
Less imputed interest	(24,724)		(139)		(24,863)
Total lease liabilities	$	263,956	$	2,228	$	266,184

Other Information Related to Leases

The weighted average remaining lease terms and discount rates were as follows:


	As of December 31, 2020
Weighted average remaining lease term (in years):
Operating leases	4.28
Finance leases	3.06
Weighted average discount rate:
Operating leases	4.2	%
Finance leases	4.1	%