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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Lease Assets and Liabilities
The following table presents our lease-related assets and liabilities as of December 31, 2022 and 2021 (in thousands):
Classification on the Consolidated Balance SheetDecember 31,
2022
December 31,
2021
Assets
Operating lease assetsOperating lease right-of-use assets$268,063 $260,778 
Finance lease assetsProperty, plant and equipment, net6,117 7,666 
Total lease assets$274,180 $268,444 
Liabilities
Current
OperatingOperating lease liabilities, current$67,218 $57,814 
FinanceCurrent maturities of long-term debt and finance lease liabilities2,652 3,320 
Noncurrent
OperatingOperating lease liabilities, long-term220,764 220,836 
FinanceLong-term debt and finance lease liabilities3,807 4,717 
Total lease liabilities$294,441 $286,687 
Schedule of Lease Costs
The following table presents information related to our lease expense for the years ended December 31, 2022, 2021, and 2020 (in thousands):
202220212020
Finance lease expense:
Amortization expense$3,550 $4,255 $4,562 
Interest expense178 255 355 
Operating lease expense77,143 70,928 69,208 
Short-term lease expense (1)
185,061 150,500 139,706 
Variable lease expense6,782 5,421 5,441 
Total lease expense$272,714 $231,359 $219,272 
_________________
(1)Short-term lease expense includes both leases and rentals with initial terms of one year or less and predominantly represents equipment used on construction projects.
Sublease rental income was approximately $3.8 million, $0.2 million, and $0.5 million for the years ended December 31, 2022, 2021, and 2020, respectively.
Lease Term and Discount Rate
The following table presents certain information related to the lease terms and discount rates for our leases as of December 31, 2022 and 2021:
December 31,
2022
December 31,
2021
Weighted-average remaining lease term:
Operating leases5.9 years6.4 years
Finance leases2.9 years2.9 years
Weighted-average discount rate:
Operating leases3.45 %3.20 %
Finance leases2.85 %2.61 %
Other Information
The following table presents supplemental cash flow information related to our leases for the years ended December 31, 2022, 2021, and 2020 (in thousands):
202220212020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases$74,927 $69,797 $65,016 
Operating cash flows used for finance leases$178 $255 $355 
Financing cash flows used for finance leases$3,551 $4,189 $4,470 
Right-of-use assets obtained in exchange for new operating lease liabilities$75,027 $80,661 $55,895 
Right-of-use assets obtained in exchange for new finance lease liabilities$2,209 $2,301 $4,558 
Schedule of Maturity of Operating Leases
The following table reconciles our future minimum lease payments on an undiscounted cash flow basis to our lease liabilities reported in the Consolidated Balance Sheet as of December 31, 2022 (in thousands):
Operating LeasesFinance Leases
2023$75,479 $2,790 
202458,013 2,145 
202548,529 1,080 
202640,055 441 
202729,132 148 
Thereafter67,803 128 
Total minimum lease payments319,011 6,732 
Less: Amount of lease payments representing interest(31,029)(273)
Present value of future minimum lease payments$287,982 $6,459 
Current portion of lease liabilities$67,218 $2,652 
Noncurrent portion of lease liabilities220,764 3,807 
Present value of future minimum lease payments$287,982 $6,459 
Schedule of Maturity of Finance Leases
The following table reconciles our future minimum lease payments on an undiscounted cash flow basis to our lease liabilities reported in the Consolidated Balance Sheet as of December 31, 2022 (in thousands):
Operating LeasesFinance Leases
2023$75,479 $2,790 
202458,013 2,145 
202548,529 1,080 
202640,055 441 
202729,132 148 
Thereafter67,803 128 
Total minimum lease payments319,011 6,732 
Less: Amount of lease payments representing interest(31,029)(273)
Present value of future minimum lease payments$287,982 $6,459 
Current portion of lease liabilities$67,218 $2,652 
Noncurrent portion of lease liabilities220,764 3,807 
Present value of future minimum lease payments$287,982 $6,459