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Leases (Tables)

12 Months Ended

Dec. 31, 2019

Other information related to leases was as follows:



Lease Term and Discount Rate	December 31, 2019

Weighted-average remaining lease term (years)
Operating leases	9.5
Finance leases	9.2
Weighted-average discount rate
Operating leases	5.2	%
Finance leases	4.1	%



	Year Ended
Supplemental cash flows information (in thousands)	December 31, 2019

Cash paid for amounts included in the measurement of lease liabilities
Operating cash outflows from operating leases	$	297,712
Financing cash outflows from finance leases	11,744
Leased assets obtained in exchange for new finance lease liabilities	13,326
Leased assets obtained in exchange for new operating lease liabilities	144,142

The amounts recorded on the Consolidated Balance Sheet as of December 31, 2019 related to our lease agreements are as follows (in thousands):



Leases	Classification	December 31, 2019

Assets
Operating lease assets, net	Operating lease assets, net	$	1,308,511
Finance lease assets, net	Property, plant and equipment, net	39,077
Total leased assets		$	1,347,588
Liabilities
Current
Operating	Current portion of operating lease liabilities	$	221,527
Finance	Current portion of long-term obligations	9,409
Noncurrent
Operating	Long-term operating lease liabilities, excluding current portion	1,137,597
Finance	Long-term obligations, excluding current portion	31,428
Total lease liabilities		$	1,399,961

The components of lease expense are as follows (in thousands):



		Year Ended
Lease Cost	Classification	December 31, 2019

Operating lease cost	Cost of goods sold	$	13,416
Operating lease cost	Selling, general and administrative expenses	303,619
Short-term lease cost	Selling, general and administrative expenses	9,392
Variable lease cost	Selling, general and administrative expenses	95,899
Finance lease cost
Amortization of leased assets	Depreciation and amortization	10,277
Interest on lease liabilities	Interest expense	1,546
Sublease income	Selling, general and administrative expenses	(1,640		)
Net lease cost		$	432,509

The future minimum lease commitments under our noncancelable operating leases at December 31, 2018 were as follows (in thousands):



Years ending December 31:
2019	$	294,269
2020	256,172
2021	210,632
2022	158,763
2023	131,518
Thereafter	777,165
Future Minimum Lease Payments	$	1,828,519

The future minimum lease commitments under our leases at December 31, 2019 are as follows (in thousands):



	Operating leases		Finance leases ⁽¹⁾		Total
Years ending December 31:
2020	$	288,726	$	10,121	$	298,847
2021	249,168		8,743		257,911
2022	200,546		7,166		207,712
2023	167,858		3,591		171,449
2024	138,502		3,138		141,640
Thereafter	760,030		19,381		779,411
Future minimum lease payments	1,804,830		52,140		1,856,970
Less: Interest	445,706		11,303		457,009
Present value of lease liabilities	$	1,359,124	$	40,837	$	1,399,961