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Leases and Other Commitments
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases and Other Commitments Leases and Other Commitments
Leases
The Company has commitments under operating leases for certain facilities, vehicles and equipment used in its operations. Our leases have initial lease terms ranging from 1 month to 15 years.
The components of lease expense were as follows:
202320222021
(In thousands)
Operating lease cost$63,049 $59,296 $61,680 
Variable lease cost11,384 11,096 7,724 
Total lease cost$74,433 $70,392 $69,404 
Supplemental balance sheet information related to leases was as follows:
December 31,
20232022
(In thousands)
Right of use assets, net$229,723 $170,295 
Lease liabilities included in Accrued liabilities and other61,055 46,366 
Lease liabilities included in Other long-term liabilities182,436 129,227 
Total lease liabilities$243,491 $175,593 


Supplemental cash flow information and other information related to leases was as follows for the year ended December 31:
20232022
(In thousands)
Cash used in operations for operating leases$39,191 $54,724 
Right-of-use assets obtained in exchange for new operating liabilities$95,052 $59,802 
Weighted-average remaining lease terms – operating leases (years)6.665.07
Weighted-average discount rate – operating leases4.48 %3.32 %
Maturities of lease liabilities as of December 31, 2023 were as follows:
Lease Liability Maturity AnalysisOperating Leases
(In thousands)
2024$59,507 
202547,953 
202638,357 
202727,753 
202820,281 
Thereafter71,873 
Total lease payments265,724 
Less: imputed interest22,233 
$243,491 
The Company does not have any significant leases that have not yet commenced.
Other Commitments
As of December 31, 2023, and 2022, the Company had $790.0 million and $1,119.7 million, respectively, in purchase obligations outstanding, which primarily consisted of contractual commitments to purchase certain inventories at fixed prices.
The Company does not provide significant guarantees on a routine basis. The Company primarily issues guarantees, stand-by letters of credit and surety bonds in the ordinary course of its business to provide financial or performance assurance to third parties on behalf of its consolidated subsidiaries to support or enhance the subsidiary’s stand-alone creditworthiness. The amounts subject to certain of these agreements vary depending on the covered contracts outstanding at any particular point in time. At December 31, 2023, the maximum amount of future payment obligations relative to these various guarantees was $302.5 million and the outstanding liability under certain of those guarantees was $193.6 million