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Leases

6 Months Ended

Jun. 30, 2019

NOTE 7 — LEASES

The Company leases the land underlying certain of its properties, real estate, and various equipment under operating and, to a lesser extent, finance lease arrangements. The Company’s master lease agreement with a subsidiary of MGP for certain real estate assets is eliminated in consolidation and, accordingly is not included within the disclosures below; refer to Note 12 for further discussion of the master lease.

Lease expense for the three and six months ended June 30, 2019 includes operating lease cost of $26 million and $50 million, respectively. Other information related to the Company’s operating leases was as follows (in thousands, except for lease term and discount rate information):

	June 30, 2019
Supplemental balance sheet information	(In thousands)
Operating lease right-of-use assets	$	664,817
Operating lease obligation - short-term (recorded within “Other accrued liabilities”)	$	79,034
Operating lease obligation - long-term		529,171
Total operating lease liabilities	$	608,205

Weighted-average remaining lease term (years)	36
Weighted-average discount rate (%)	7

	Six Months Ended
	June 30, 2019
Supplemental cash flows information	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities - operating cash outflows from operating leases	$	33,921

Maturities of operating lease liabilities were as follows:

Year ending December 31,	(In thousands)
2019 (excluding the six months ended June 30, 2019)	$	58,380
2020		92,443
2021		73,132
2022		58,641
2023		56,209
Thereafter		1,441,260
Total future minimum lease payments		1,780,065
Less: Amount of lease payments representing interest		(1,171,860	)
Total	$	608,205