Leases (Tables)

12 Months Ended

Dec. 31, 2021

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


		Year Ended December 31,
Lease cost	Classification	2021		2020		2019
Finance lease cost:
Amortization of lease assets	Depreciation (1)	$	1,097	$	1,234	$	1,393
Interest on lease liabilities	Interest and other financing expenses	90		107		64
Operating lease cost	Cost of services and Selling, general and administrative expenses	104,668		116,672		121,767
Short-term and variable lease cost (2)	Cost of services and Selling, general and administrative expenses	716,722		656,649		837,244
Total lease cost		$	822,577	$	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.

Components of Leases in the Balance Sheet

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


		December 31,
Lease type	Classification	2021		2020
Assets:
Operating lease right-of-use assets	Operating lease right-of-use assets	$	240,605	$	256,845
Finance lease assets	Property and equipment, net of accumulated depreciation	2,415		2,370
Total lease assets		$	243,020	$	259,215
Liabilities:
Current:
Operating	Current portion of operating lease liabilities	$	78,251	$	85,134
Finance	Current maturities of long-term debt and short-term debt	1,156		846

Non-current:
Operating	Operating lease liabilities, net of current portion	170,427		178,822
Finance	Long-term debt, net of current maturities	1,390		1,382
Total lease liabilities		$	251,224	$	266,184

Future Minimum Lease Payments - Operating Leases

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


	As of December 31, 2021
	Operating Leases		Finance Leases		Total
2022	$	85,427	$	1,185	$	86,612
2023	63,890		907		64,797
2024	44,113		423		44,536
2025	30,638		137		30,775
2026	20,602		—		20,602
Thereafter	23,866		—		23,866
Total future minimum operating and finance lease payments	268,536		2,652		271,188
Less imputed interest	(19,858)		(106)		(19,964)
Total lease liabilities	$	248,678	$	2,546	$	251,224

Future Minimum Lease Payments - Finance Leases

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


	As of December 31, 2021
	Operating Leases		Finance Leases		Total
2022	$	85,427	$	1,185	$	86,612
2023	63,890		907		64,797
2024	44,113		423		44,536
2025	30,638		137		30,775
2026	20,602		—		20,602
Thereafter	23,866		—		23,866
Total future minimum operating and finance lease payments	268,536		2,652		271,188
Less imputed interest	(19,858)		(106)		(19,964)
Total lease liabilities	$	248,678	$	2,546	$	251,224

Other Information Related to Leases

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


	As of December 31,
	2021		2020
Weighted average remaining lease term (in years):
Operating leases	4.25		4.28
Finance leases	2.57		3.06
Weighted average discount rate:
Operating leases	3.7	%	4.2	%
Finance leases	3.3	%	4.1	%