XML 32 R17.htm IDEA: XBRL DOCUMENT
v3.20.2

Leases | 6 Months Ended
--- | ---
Jun. 30, 2020
Leases [Abstract] |
Leases | LEASES The majority of our facilities are occupied under operating lease arrangements with various expiration dates through 2067, some of which include options to extend the life of the lease, and some of which include options to terminate the lease within one year. In certain instances, we are responsible for the real estate taxes and operating expenses related to these facilities. Additionally, we enter into operating leases for certain vehicles and office equipment in the normal course of business. We determine the expected term of any executed agreements using the non-cancelable lease term plus any renewal options by which the failure to renew imposes a penalty in such amount that renewal is reasonably assured. The derived expected term is then used in the determination of a financing or operating lease and in the calculation of straight-line rent expense. Rent escalations are considered in the calculation of minimum lease payments in our capital lease tests and in determining straight-line rent expense for operating leases. Minimum lease payments include the fixed lease component of the agreement, as well as fixed rate increases that are initially measured at the lease commencement date. Variable lease payments based on an index, payments associated with non-lease components and short-term rentals (leases with terms less than 12 months) are expensed as incurred. Consideration is allocated to the lease and non-lease components based on the estimated standalone prices. We determine if an arrangement is a lease at its inception. Operating leases are included in operating lease right-of-use assets, accrued liabilities, and long-term operating lease liabilities in our consolidated balance sheets. Our financing leases are not material to our financial statements. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease liabilities and right-of-use assets are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an explicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Rent expense for lease payments is recognized on a straight-line basis over the lease term. The operating lease right-of-use assets also includes any rent prepayments, lease incentives upon receipt and straight-line rent expense impacts, which represent the difference between our operating lease liabilities and right-of-use assets. Maturities of operating lease liabilities were as follows:
(in thousands, except lease term and discount rate) | June 30, 2020
﻿ |
2020 (remainder of year) | $ | 9,263 |
2021 | 19,956 |
2022 | 16,841 |
2023 | 11,714 |
2024 | 7,833 |
Thereafter | 35,739 |
Total lease payments | 101,346 |
Less imputed interest | (16,276) |
Total | $ | 85,070 |
Current operating lease liabilities, included in accrued liabilities | $ | 16,473 |
Long-term operating lease liabilities | $ | 68,597 |
Weighted average remaining lease term - operating leases | 9.9 years
Weighted average discount rate - operating leases | 3.5 | %
Total minimum future lease payments of approximately $1.3 million for leases that have not commenced as of June 30, 2020, are not included in the condensed consolidated financial statements, as we do not yet control the underlying assets. These leases are expected to commence between 2020 and 2021 with lease terms of approximately 5 years to 10 years. Rent expense charged to operations under operating leases was approximately $5.2 million and $10.6 million during the three and six months ended June 30, 2020, respectively, and $5.1 million and $10.3 million during the three and six months ended June 30, 2019, respectively. Variable rent and short-term lease expenses were not material. Supplemental cash flow information for leases was as follows:
(in thousands) | For the Six Months Ended June 30, 2020
﻿ |
Cash paid for amounts included in the measurement of operating leases liabilities | $ | 9,346 |
Right-of-use assets obtained in exchange for operating lease obligations, net of early lease terminations | $ | 10,738 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration