Leases (Tables)

3 Months Ended

Mar. 31, 2023

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	2023		2022
Finance lease cost:
Amortization of lease assets	Depreciation (1)	$	911	$	440
Interest on lease liabilities	Interest and other financing expenses	208		27
Operating lease cost	Cost of services and Selling, general and administrative expenses	23,223		24,877
Short-term and variable lease cost (2)	Cost of services and Selling, general and administrative expenses	238,078		219,299
Total lease cost		$	262,420	$	244,643

(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 leases, finance leases and lease financing transactions were as follows (in thousands):


	As of March 31, 2023
	Operating Leases		Finance Leases		Lease Financing Transactions		Total
Remainder of 2023	$	65,507	$	1,159	$	12,870	$	79,536
2024	70,456		3,950		14,345		88,751
2025	53,957		3,845		12,577		70,379
2026	39,185		3,628		13,111		55,924
2027	24,428		3,229		10,491		38,148
Thereafter	27,814		852		20,190		48,856
Total future minimum payments related to operating leases, finance leases and lease financing transactions	281,347		16,663		83,584		381,594
Less imputed interest	(23,421)		(86)		—		(23,507)
Total operating lease, finance lease and lease financing transaction liabilities	$	257,926	$	16,577	$	83,584	$	358,087

Future Minimum Lease Payments - Finance Leases

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


	As of March 31, 2023
	Operating Leases		Finance Leases		Lease Financing Transactions		Total
Remainder of 2023	$	65,507	$	1,159	$	12,870	$	79,536
2024	70,456		3,950		14,345		88,751
2025	53,957		3,845		12,577		70,379
2026	39,185		3,628		13,111		55,924
2027	24,428		3,229		10,491		38,148
Thereafter	27,814		852		20,190		48,856
Total future minimum payments related to operating leases, finance leases and lease financing transactions	281,347		16,663		83,584		381,594
Less imputed interest	(23,421)		(86)		—		(23,507)
Total operating lease, finance lease and lease financing transaction liabilities	$	257,926	$	16,577	$	83,584	$	358,087

Other Information Related to Leases

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


	As of March 31, 2023
Weighted average remaining lease term (in years):
Operating leases	4.32
Finance leases	5.23
Weighted average discount rate:
Operating leases	3.8	%
Finance leases	5.0	%