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v3.19.1

Leases | 3 Months Ended
--- | ---
Mar. 31, 2019
Leases [Abstract] |
Leases | Leases FHN has operating, financing, and short-term leases for branch locations, corporate offices and certain equipment. Substantially all of these leases are classified as operating leases. The following table provides a detail of the classification of FHN's right-of-use ("ROU") assets and lease liabilities included in the Consolidated Condensed Statement of Conditions.
(Dollars in thousands) |  | March 31, 2019
Lease Right-of-Use Assets: | Classification |
Operating lease right-of use assets | Other assets | $ | 179,028 |
Finance lease right-of use assets | Other assets | 682 |
Total Lease Right-of Use Assets |  | $ | 179,710 |
Lease Liabilities: |  |
Operating lease liabilities | Other liabilities | $ | 198,091 |
Finance lease liabilities | Other liabilities | 1,344 |
Total Lease Liabilities |  | $ | 199,435 |
The calculated amount of the ROU assets and lease liabilities in the table above are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The following table details the weighted average remaining lease term and discount rate for FHN's operating and finance leases as of March 31, 2019.
Weighted Average Remaining Lease Terms |
Operating leases | 12.38 years |
Finance leases | 7.17 years |
Weighted Average Discount Rate |
Operating leases | 3.48 | %
Finance leases | 9.96 | %
The following table provides a detail of the components of lease expense and other lease information for the three months ended March 31, 2019:
(Dollars in thousands) | Three Months Ended March 31, 2019
Lease cost |
Operating lease cost | $ | 6,183 |
Finance lease cost: |
Amortization of right-of-use assets | 24 |
Interest on lease liabilities | 33 |
Short-term lease cost | 45 |
Sublease income | (95 | )
Total lease cost | $ | 6,190 |
Other information |
(Gain)/loss on right-of-use asset impairment-Operating leases | $ | 817 |
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases | 5,302 |
Operating cash flows from finance leases | 33 |
Financing cash flows from finance leases | 31 |
Right-of-use assets obtained in exchange for new lease obligations: |
Operating leases | 2,442 |
Finance leases | — |
The following table provides a detail of the maturities of FHN's operating and finance lease liabilities as of March 31, 2019:
(Dollars in thousands) |  |  | March 31, 2019
Remainder of 2019 |  | $ | 18,489 |
2020 |  | 23,911 |
2021 |  | 21,630 |
2022 |  | 20,535 |
2023 |  | 19,627 |
2024 and after |  | 143,048 |
Total future minimum lease payments |  | 247,240 |
Less lease liability interest |  | (47,805 | )
Present value of net future minimum lease payments |  | $ | 199,435 |
FHN had aggregate undiscounted contractual obligations totaling $22.1 million for lease arrangements that have not commenced. Payments under these arrangements are expected to occur from 2019 through 2032. Minimum future lease payments for noncancelable operating leases, primarily on premises, on December 31, 2018 are shown below.
(Dollars in thousands) | December 31, 2018
2019 | $ | 27,524 |
2020 | 24,722 |
2021 | 20,954 |
2022 | 16,518 |
2023 | 13,174 |
2024 and after | 42,370 |
Total minimum lease payments | $ | 145,262 |
Leases | Leases FHN has operating, financing, and short-term leases for branch locations, corporate offices and certain equipment. Substantially all of these leases are classified as operating leases. The following table provides a detail of the classification of FHN's right-of-use ("ROU") assets and lease liabilities included in the Consolidated Condensed Statement of Conditions.
(Dollars in thousands) |  | March 31, 2019
Lease Right-of-Use Assets: | Classification |
Operating lease right-of use assets | Other assets | $ | 179,028 |
Finance lease right-of use assets | Other assets | 682 |
Total Lease Right-of Use Assets |  | $ | 179,710 |
Lease Liabilities: |  |
Operating lease liabilities | Other liabilities | $ | 198,091 |
Finance lease liabilities | Other liabilities | 1,344 |
Total Lease Liabilities |  | $ | 199,435 |
The calculated amount of the ROU assets and lease liabilities in the table above are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The following table details the weighted average remaining lease term and discount rate for FHN's operating and finance leases as of March 31, 2019.
Weighted Average Remaining Lease Terms |
Operating leases | 12.38 years |
Finance leases | 7.17 years |
Weighted Average Discount Rate |
Operating leases | 3.48 | %
Finance leases | 9.96 | %
The following table provides a detail of the components of lease expense and other lease information for the three months ended March 31, 2019:
(Dollars in thousands) | Three Months Ended March 31, 2019
Lease cost |
Operating lease cost | $ | 6,183 |
Finance lease cost: |
Amortization of right-of-use assets | 24 |
Interest on lease liabilities | 33 |
Short-term lease cost | 45 |
Sublease income | (95 | )
Total lease cost | $ | 6,190 |
Other information |
(Gain)/loss on right-of-use asset impairment-Operating leases | $ | 817 |
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases | 5,302 |
Operating cash flows from finance leases | 33 |
Financing cash flows from finance leases | 31 |
Right-of-use assets obtained in exchange for new lease obligations: |
Operating leases | 2,442 |
Finance leases | — |
The following table provides a detail of the maturities of FHN's operating and finance lease liabilities as of March 31, 2019:
(Dollars in thousands) |  |  | March 31, 2019
Remainder of 2019 |  | $ | 18,489 |
2020 |  | 23,911 |
2021 |  | 21,630 |
2022 |  | 20,535 |
2023 |  | 19,627 |
2024 and after |  | 143,048 |
Total future minimum lease payments |  | 247,240 |
Less lease liability interest |  | (47,805 | )
Present value of net future minimum lease payments |  | $ | 199,435 |
FHN had aggregate undiscounted contractual obligations totaling $22.1 million for lease arrangements that have not commenced. Payments under these arrangements are expected to occur from 2019 through 2032. Minimum future lease payments for noncancelable operating leases, primarily on premises, on December 31, 2018 are shown below.
(Dollars in thousands) | December 31, 2018
2019 | $ | 27,524 |
2020 | 24,722 |
2021 | 20,954 |
2022 | 16,518 |
2023 | 13,174 |
2024 and after | 42,370 |
Total minimum lease payments | $ | 145,262 |

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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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