Leases (Tables)

9 Months Ended

Sep. 30, 2022

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


		Three Months Ended				Nine Months Ended
		September 30,				September 30,
Lease cost	Classification	2022		2021		2022		2021
Finance lease cost:
Amortization of lease assets	Depreciation (1)	$	301	$	231	$	1,177	$	705
Interest on lease liabilities	Interest and other financing expenses	27		18		82		68
Operating lease cost	Cost of services and Selling, general and administrative expenses	21,957		25,323		71,082		80,046
Short-term and variable lease cost (2)	Cost of services and Selling, general and administrative expenses	250,460		176,605		693,847		494,846
Total lease cost		$	272,745	$	202,177	$	766,188	$	575,665

(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.

Future Minimum Lease Payments - Operating Leases

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


	As of September 30, 2022
	Operating Leases		Finance Leases		Total
Remainder of 2022	$	22,108	$	417	$	22,525
2023	76,118		1,408		77,526
2024	56,284		859		57,143
2025	41,028		516		41,544
2026	29,157		357		29,514
Thereafter	37,425		58		37,483
Total future minimum operating and finance lease payments	262,120		3,615		265,735
Less imputed interest	(19,357)		(3)		(19,360)
Total lease liabilities	$	242,763	$	3,612	$	246,375

Future Minimum Lease Payments - Finance Leases

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


	As of September 30, 2022
	Operating Leases		Finance Leases		Total
Remainder of 2022	$	22,108	$	417	$	22,525
2023	76,118		1,408		77,526
2024	56,284		859		57,143
2025	41,028		516		41,544
2026	29,157		357		29,514
Thereafter	37,425		58		37,483
Total future minimum operating and finance lease payments	262,120		3,615		265,735
Less imputed interest	(19,357)		(3)		(19,360)
Total lease liabilities	$	242,763	$	3,612	$	246,375

Other Information Related to Leases

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


	As of September 30, 2022
Weighted average remaining lease term (in years):
Operating leases	4.34
Finance leases	2.95
Weighted average discount rate:
Operating leases	3.5	%
Finance leases	3.1	%