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Leases and Other Finance Obligations (Table)

9 Months Ended

Sep. 30, 2021

Right-of-use assets and lease liabilities consisted of the following (in thousands) as of:

	September 30, 2021		December 31, 2020
Assets
Operating lease right-of-use assets, net	$	444,073	$	274,562
Finance lease right-of-use assets, net (included in property, plant and equipment, net)		4,490		34,905
Total right-of-use assets	$	448,563	$	309,467
Liabilities
Current
Current portion of operating lease liabilities	$	94,651	$	61,625
Current portion of finance lease liabilities (included in current maturities of long-term debt)		1,444		12,178
Noncurrent
Noncurrent portion of operating lease liabilities		360,271		219,239
Noncurrent portion of finance lease liabilities (included in long-term debt, net of current maturities)		2,709		11,695
Total lease liabilities	$	459,075	$	304,737

Total lease costs consisted of the following (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Operating lease costs (1)	$	33,820	$	21,300	$	99,292	$	64,293
Finance lease costs:
Amortization of finance lease right-of-use assets		397		1,548		1,787		4,704
Interest on finance lease liabilities		53		382		318		1,041
Variable lease costs		6,827		4,613		20,308		13,275
Total lease costs	$	41,097	$	27,843	$	121,705	$	83,313

(1)

Includes short-term lease costs and sublease income which were not material for the three and nine months ended September 30, 2021 and 2020.

Future maturities of lease liabilities as of September 30, 2021 were as follows (in thousands):

	Finance Leases			Operating Leases
2021 (from October 1, 2021)	$	409		$	29,490
2022		1,570			112,718
2023		1,337			95,739
2024		480			78,513
2025		257			56,062
Thereafter		438			167,888
Total lease payments		4,491			540,410
Less: amount representing interest		(338	)		(85,488	)
Present value of lease liabilities		4,153			454,922
Less: current portion		(1,444	)		(94,651	)
Long-term lease liabilities, net of current portion	$	2,709		$	360,271

Weighted average lease terms and discount rates were as follows:

	September 30, 2021		December 31, 2020
Weighted average remaining lease term (years)
Operating leases	6.4		6.3
Finance leases	3.6		2.1
Weighted average discount rate
Operating leases	5.4	%	6.3	%
Finance leases	4.4	%	5.9	%

The following table presents cash paid for amounts included in the measurement of lease liabilities (in thousands):

	Nine Months Ended September 30,
		2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	90,858	$	62,185
Operating cash flows from finance leases		318		1,041
Financing cash flows from finance leases		27,565		9,961

Future minimum commitments for other finance obligations as of September 30, 2021 were as follows (in thousands):