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LEASES LEASES | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
LEASES | LEASES As of December 31, 2019, the Company’s lease portfolio was predominately operating leases for real estate, vehicles and rail cars. The Company presents operating lease balances separately on the consolidated balance sheet. The Company's finance leases relate to certain buildings and equipment. The following table presents our finance lease balances and their classification on the consolidated balance sheet as of December 31, 2019 (in thousands):
Finance Lease Balances (Classification) | December 31, 2019
ROU assets (Property, plant and equipment, net) | $ | 32,307 |
Current portion of lease liabilities (Accrued expenses) | 801 |
Long-term portion of lease liabilities (Deferred taxes, unrecognized tax benefits and other long-term liabilities) | 34,517 |
The Company’s lease expense was as follows (in thousands):
| For the year ended December 31, 2019
Operating lease cost | $ | 55,402 |
Finance lease cost: |
Amortization of ROU assets | 1,142 |
Interest on lease liabilities | 1,415 |
Total finance lease cost | 2,557 |
Short-term lease cost | 84,749 |
Variable lease cost | 6,702 |
Total lease cost | $ | 149,410 |
Other information related to leases was as follows:
Weighted Average Remaining Lease Term (years) | December 31, 2019
Operating leases | 5.1 |
Finance leases | 21.3 |
Weighted Average Discount Rate |
Operating leases | 5.29 | %
Finance leases | 4.97 | %
Supplemental Cash Flow Related Disclosures (in thousands) | For the year ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities |
Operating cash flows from operating leases | $ | 56,240 |
Operating cash flows from finance leases | 1,415 |
Financing cash flows from finance leases | 586 |
ROU assets obtained in exchange for operating lease liabilities | 17,699 |
ROU assets obtained in exchange for finance lease liabilities | 33,449 |
At December 31, 2019, the Company's future lease payments under non-cancelable leases that have lease terms in excess of one year were as follows (in thousands):
Years ending December 31, | Operating Leases |  | Finance Leases
2020 | $ | 50,814 |  |  | $ | 2,733 |
2021 | 38,705 |  |  | 2,782 |
2022 | 31,052 |  |  | 2,836 |
2023 | 22,723 |  |  | 2,895 |
2024 | 15,787 |  |  | 2,825 |
Thereafter | 28,444 |  |  | 51,151 |
Total future lease payments | 187,525 |  |  | 65,222 |
Amount representing interest | (25,526 | ) |  | (29,904 | )
Total lease liabilities | $ | 161,999 |  |  | $ | 35,318 |
At December 31, 2019, none of the Company's executed leases that had not yet commenced will create significant rights or obligations in the future and its sublease transactions are not material. Additionally, the Company does not have any related party leases, and there were no restrictions or covenants imposed by its leases. Disclosures related to relevant periods prior to adoption of Topic 842 The following is a summary of future minimum payments under operating leases that have initial or remaining non-cancelable lease terms in excess of one year at December 31, 2018 (in thousands):
Year | Total Operating Leases
2019 | $ | 56,480 |
2020 | 45,467 |
2021 | 33,564 |
2022 | 24,509 |
2023 | 15,253 |
Thereafter | 35,778 |
Total minimum lease payments | $ | 211,051 |
During the years ended December 31, 2018 and 2017, rent expense, including short-term rentals, was approximately $141.1 million and $125.4 million, respectively.
LEASES | LEASES As of December 31, 2019, the Company’s lease portfolio was predominately operating leases for real estate, vehicles and rail cars. The Company presents operating lease balances separately on the consolidated balance sheet. The Company's finance leases relate to certain buildings and equipment. The following table presents our finance lease balances and their classification on the consolidated balance sheet as of December 31, 2019 (in thousands):
Finance Lease Balances (Classification) | December 31, 2019
ROU assets (Property, plant and equipment, net) | $ | 32,307 |
Current portion of lease liabilities (Accrued expenses) | 801 |
Long-term portion of lease liabilities (Deferred taxes, unrecognized tax benefits and other long-term liabilities) | 34,517 |
The Company’s lease expense was as follows (in thousands):
| For the year ended December 31, 2019
Operating lease cost | $ | 55,402 |
Finance lease cost: |
Amortization of ROU assets | 1,142 |
Interest on lease liabilities | 1,415 |
Total finance lease cost | 2,557 |
Short-term lease cost | 84,749 |
Variable lease cost | 6,702 |
Total lease cost | $ | 149,410 |
Other information related to leases was as follows:
Weighted Average Remaining Lease Term (years) | December 31, 2019
Operating leases | 5.1 |
Finance leases | 21.3 |
Weighted Average Discount Rate |
Operating leases | 5.29 | %
Finance leases | 4.97 | %
Supplemental Cash Flow Related Disclosures (in thousands) | For the year ended December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities |
Operating cash flows from operating leases | $ | 56,240 |
Operating cash flows from finance leases | 1,415 |
Financing cash flows from finance leases | 586 |
ROU assets obtained in exchange for operating lease liabilities | 17,699 |
ROU assets obtained in exchange for finance lease liabilities | 33,449 |
At December 31, 2019, the Company's future lease payments under non-cancelable leases that have lease terms in excess of one year were as follows (in thousands):
Years ending December 31, | Operating Leases |  | Finance Leases
2020 | $ | 50,814 |  |  | $ | 2,733 |
2021 | 38,705 |  |  | 2,782 |
2022 | 31,052 |  |  | 2,836 |
2023 | 22,723 |  |  | 2,895 |
2024 | 15,787 |  |  | 2,825 |
Thereafter | 28,444 |  |  | 51,151 |
Total future lease payments | 187,525 |  |  | 65,222 |
Amount representing interest | (25,526 | ) |  | (29,904 | )
Total lease liabilities | $ | 161,999 |  |  | $ | 35,318 |
At December 31, 2019, none of the Company's executed leases that had not yet commenced will create significant rights or obligations in the future and its sublease transactions are not material. Additionally, the Company does not have any related party leases, and there were no restrictions or covenants imposed by its leases. Disclosures related to relevant periods prior to adoption of Topic 842 The following is a summary of future minimum payments under operating leases that have initial or remaining non-cancelable lease terms in excess of one year at December 31, 2018 (in thousands):
Year | Total Operating Leases
2019 | $ | 56,480 |
2020 | 45,467 |
2021 | 33,564 |
2022 | 24,509 |
2023 | 15,253 |
Thereafter | 35,778 |
Total minimum lease payments | $ | 211,051 |
During the years ended December 31, 2018 and 2017, rent expense, including short-term rentals, was approximately $141.1 million and $125.4 million, respectively.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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
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- 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
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