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v3.23.3

Leases (Tables) | 9 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Components of Lease Costs | 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 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Finance lease cost: |  |  |  |  |  |  |  |  |
Amortization of lease assets | Depreciation (1) |  | $ | 1,168 |  |  | $ | 301 |  |  | $ | 3,181 |  |  | $ | 1,177 |
Interest on lease liabilities | Interest and other financing expenses |  | 674 |  |  | 27 |  |  | 1,181 |  |  | 82 |
Operating lease cost | Cost of services and Selling, general and administrative expenses |  | 23,379 |  |  | 21,957 |  |  | 69,742 |  |  | 71,082 |
Short-term and variable lease cost (2) | Cost of services and Selling, general and administrative expenses |  | 302,134 |  |  | 250,460 |  |  | 790,080 |  |  | 693,847 |
Total lease cost |  |  | $ | 327,355 |  |  | $ | 272,745 |  |  | $ | 864,184 |  |  | $ | 766,188 |
(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 September 30, 2023
|  | Operating Leases |  | Finance Leases |  | Lease Financing Transactions |  | Total
Remainder of 2023 |  | $ | 23,541 |  |  | $ | 770 |  |  | $ | 4,940 |  |  | $ | 29,251 |
2024 |  | 82,431 |  |  | 6,902 |  |  | 18,710 |  |  | 108,043 |
2025 |  | 65,559 |  |  | 6,542 |  |  | 16,986 |  |  | 89,087 |
2026 |  | 48,661 |  |  | 6,298 |  |  | 17,530 |  |  | 72,489 |
2027 |  | 32,482 |  |  | 5,768 |  |  | 14,679 |  |  | 52,929 |
Thereafter |  | 38,454 |  |  | 5,414 |  |  | 32,492 |  |  | 76,360 |
Total future minimum payments related to operating leases, finance leases and lease financing transactions |  | 291,128 |  |  | 31,694 |  |  | 105,337 |  |  | 428,159 |
Less imputed interest |  | (25,343) |  |  | (1,605) |  |  | — |  |  | (26,948) |
Total |  | $ | 265,785 |  |  | $ | 30,089 |  |  | $ | 105,337 |  |  | $ | 401,211 |
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 September 30, 2023
|  | Operating Leases |  | Finance Leases |  | Lease Financing Transactions |  | Total
Remainder of 2023 |  | $ | 23,541 |  |  | $ | 770 |  |  | $ | 4,940 |  |  | $ | 29,251 |
2024 |  | 82,431 |  |  | 6,902 |  |  | 18,710 |  |  | 108,043 |
2025 |  | 65,559 |  |  | 6,542 |  |  | 16,986 |  |  | 89,087 |
2026 |  | 48,661 |  |  | 6,298 |  |  | 17,530 |  |  | 72,489 |
2027 |  | 32,482 |  |  | 5,768 |  |  | 14,679 |  |  | 52,929 |
Thereafter |  | 38,454 |  |  | 5,414 |  |  | 32,492 |  |  | 76,360 |
Total future minimum payments related to operating leases, finance leases and lease financing transactions |  | 291,128 |  |  | 31,694 |  |  | 105,337 |  |  | 428,159 |
Less imputed interest |  | (25,343) |  |  | (1,605) |  |  | — |  |  | (26,948) |
Total |  | $ | 265,785 |  |  | $ | 30,089 |  |  | $ | 105,337 |  |  | $ | 401,211 |
Other Information Related to Leases | The weighted average remaining lease terms and discount rates were as follows:
|  | As of September 30, 2023
Weighted average remaining lease term (in years): |  |  |  |
Operating leases |  | 4.34 |  |
Finance leases |  | 5.70 |  |
Weighted average discount rate: |  |  |  |
Operating leases |  | 4.1 | % |  |
Finance leases |  | 5.2 | % |  |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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