Leases (Tables)

3 Months Ended

Mar. 31, 2021

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


		Three Months Ended
		March 31,
Lease cost	Classification	2021		2020
Finance lease cost:
Amortization of lease assets	Depreciation (1)	$	244	$	202
Interest on lease liabilities	Interest expense	27		17
Operating lease cost	Cost of services and Selling, general and administrative expenses	27,776		29,737
Short-term and variable lease cost (2)	Cost of services and Selling, general and administrative expenses	157,899		170,365
Total lease cost		$	185,946	$	200,321

(1) Depreciation is included within “Cost of services” and “Selling, general and administrative expenses” in the accompanying condensed 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 condensed consolidated balance sheet were as follows (in thousands):


Lease type	Classification	March 31, 2021		December 31, 2020
Assets:
Operating lease right-of-use assets	Operating lease right-of-use assets	$	252,206	$	256,845
Finance lease assets	Property and equipment, net of accumulated depreciation	2,715		2,370
Total lease assets		$	254,921	$	259,215
Liabilities:
Current:
Operating	Current portion of operating lease liabilities	$	83,799	$	85,134
Finance	Current maturities of long-term debt and short-term debt	988		846

Non-current:
Operating	Operating lease liabilities, net of current portion	176,008		178,822
Finance	Long-term debt, net of current maturities	1,627		1,382
Total lease liabilities		$	262,422	$	266,184

Future Minimum Lease Payments - Operating Leases

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


	As of March 31, 2021
	Operating Leases		Finance Leases		Total
Remainder of 2021	$	71,358	$	836	$	72,194
2022	73,550		847		74,397
2023	52,368		626		52,994
2024	32,349		394		32,743
2025	21,287		62		21,349
Thereafter	32,342		—		32,342
Total future minimum operating and finance lease payments	$	283,254	$	2,765	$	286,019
Less imputed interest	(23,447)		(150)		(23,597)
Total lease liabilities	$	259,807	$	2,615	$	262,422

Future Minimum Lease Payments - Finance Leases

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


	As of March 31, 2021
	Operating Leases		Finance Leases		Total
Remainder of 2021	$	71,358	$	836	$	72,194
2022	73,550		847		74,397
2023	52,368		626		52,994
2024	32,349		394		32,743
2025	21,287		62		21,349
Thereafter	32,342		—		32,342
Total future minimum operating and finance lease payments	$	283,254	$	2,765	$	286,019
Less imputed interest	(23,447)		(150)		(23,597)
Total lease liabilities	$	259,807	$	2,615	$	262,422

Other Information Related to Leases

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


	As of March 31, 2021
Weighted average remaining lease term (in years):
Operating leases	4.22
Finance leases	3.09
Weighted average discount rate:
Operating leases	4.1	%
Finance leases	4.1	%