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LEASES | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
LEASES | LEASES Leases as Lessor The components of revenue from leases were as follows:
|  | Years ended December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (In thousands)
Operating leases |  |  |  |  |  |
Lease income related to ChoiceLease |  | $ | 1,565,579 |  |  | $ | 1,505,913 |  |  | $ | 1,369,025 |
Lease income related to commercial rental (1) |  | 791,631 |  |  | 952,560 |  |  | 905,305 |
Sales-type leases |  |  |  |  |  |
Interest income related to net investment in leases |  | $ | 49,244 |  |  | $ | 46,801 |  |  | $ | 38,385 |
Variable lease income excluding commercial rental (1) |  | $ | 289,165 |  |  | $ | 272,065 |  |  | $ | 244,911 |
_______________ (1)Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income. The components of the net investment in sales-type leases were as follows:
|  | December 31,
|  | 2020 |  | 2019
|  | (In thousands)
Net investment in the lease - lease payment receivable |  | $ | 589,120 |  |  | $ | 553,076 |
Net investment in the lease - unguaranteed residual value in assets |  | 44,704 |  |  | 44,952 |
|  | 633,824 |  |  | 598,028 |
Estimated loss allowance (1) |  | (4,025) |  |  | (673) |
Total (2) |  | $ | 629,799 |  |  | $ | 597,355 |
_______________ (1)Amount as of December 31, 2020 reflects an immaterial cumulative-effect adjustment in connection with the adoption of the new credit loss standard (refer to Note 1, "Summary of Significant Accounting Policies," for further information). (2)Net investment in the sales-type lease are included in "Receivables, net" and "Sales-type leases and other assets" in the Consolidated Balance Sheets. Maturities of sales-type lease receivables as of December 31, 2020 were as follows:
Years ending December 31 |  | (In thousands) |  |
2021 |  | $ | 174,421 |  |  |
2022 |  | 163,471 |  |  |
2023 |  | 124,641 |  |  |
2024 |  | 97,345 |  |  |
2025 |  | 70,662 |  |  |
Thereafter |  | 91,713 |  |  |
Total undiscounted cash flows |  | 722,253 |  |  |
Present value of lease payments (recognized as lease receivables) |  | (589,120) |  |  |
Difference between undiscounted cash flows and discounted cash flows |  | $ | 133,133 |  |  |
Payments due for operating leases as of December 31, 2020 were as follows:
Years ending December 31 |  | (In thousands) |  |
2021 |  | $ | 1,290,388 |  |  |
2022 |  | 968,254 |  |  |
2023 |  | 685,145 |  |  |
2024 |  | 474,389 |  |  |
2025 |  | 288,811 |  |  |
Thereafter |  | 185,823 |  |  |
Total undiscounted cash flows |  | $ | 3,892,810 |  |  |
Leases as Lessee The components of lease expense were as follows:
|  |  | Years ended December 31,
|  |  | 2020 |  | 2019 |  | 2018
|  |  | (In thousands)
Finance lease cost |  |  |  |  |  |  |
Amortization of right-of-use-assets |  |  | $ | 13,295 |  |  | $ | 13,671 |  |  | $ | 13,805 |
Interest on lease liabilities |  |  | 2,344 |  |  | 2,565 |  |  | 2,546 |
Operating lease cost |  |  | 92,227 |  |  | 94,039 |  |  | 87,741 |
Short-term lease and other |  |  | 8,432 |  |  | 10,963 |  |  | 10,017 |
Variable lease cost |  |  | 13,325 |  |  | 12,459 |  |  | 9,888 |
Sublease income |  |  | (27,223) |  |  | (22,385) |  |  | (23,261) |
Total lease cost |  |  | $ | 102,400 |  |  | $ | 111,312 |  |  | $ | 100,736 |
Supplemental balance sheet information relates to leases was as follows:
| December 31,
| 2020 |  | 2019
| Operating Lease |  | Finance Lease |  | Operating Lease |  | Finance Lease
| (In thousands)
Noncurrent assets (1) | $ | 255,964 |  |  | $ | 39,571 |  |  | $ | 214,809 |  |  | $ | 44,190 |
Current liabilities (2) | 78,785 |  |  | 13,282 |  |  | 72,285 |  |  | 12,381 |
Noncurrent liabilities (3) | 186,429 |  |  | 35,136 |  |  | 151,361 |  |  | 39,336 |
_______________ (1)Operating lease right-of-use assets are included in "Sales-type leases and other assets" and finance lease assets are included in "Other property and equipment, net" and "Revenue earning equipment, net". (2)Current operating lease liabilities are included in "Accrued expenses and other current liabilities" and current finance leases liabilities are included in "Short-term debt and current portion of long-term debt". (3)Noncurrent operating lease liabilities are included in "Other non-current liabilities" and noncurrent finance lease liabilities are included in "Long-term debt".
|  | December 31,
|  | 2020 |  | 2019
Weighted-average remaining lease term |  |  |  |
Operating |  | 4 years |  | 4 years
Finance |  | 6 years |  | 7 years
Weighted-average discount rate |  |  |  |
Operating |  | 3.3 | % |  | 4.0 | %
Finance |  | 5.6 | % |  | 6.6 | %
Maturities of operating and finance lease liabilities were as follows:
|  | Operating |  | Finance |  |
|  | Leases |  | Leases |  | Total
Years ending December 31 |  | (In thousands)
2021 |  | $ | 85,612 |  |  | $ | 15,179 |  |  | $ | 100,791 |
2022 |  | 70,707 |  |  | 12,111 |  |  | 82,818 |
2023 |  | 56,981 |  |  | 9,291 |  |  | 66,272 |
2024 |  | 33,151 |  |  | 6,612 |  |  | 39,763 |
2025 |  | 20,281 |  |  | 3,345 |  |  | 23,626 |
Thereafter |  | 15,738 |  |  | 9,112 |  |  | 24,850 |
Total lease payments |  | 282,470 |  |  | 55,650 |  |  | 338,120 |
Less: Imputed Interest |  | (17,256) |  |  | (7,232) |  |  | (24,488) |
Present value of lease liabilities |  | $ | 265,214 |  |  | $ | 48,418 |  |  | $ | 313,632 |
As of December 31, 2020, we have not entered into any additional facility operating leases that commence in 2021 and thereafter which have not been reflected on the Consolidated Balance Sheets.
LEASES | LEASES Leases as Lessor The components of revenue from leases were as follows:
|  | Years ended December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (In thousands)
Operating leases |  |  |  |  |  |
Lease income related to ChoiceLease |  | $ | 1,565,579 |  |  | $ | 1,505,913 |  |  | $ | 1,369,025 |
Lease income related to commercial rental (1) |  | 791,631 |  |  | 952,560 |  |  | 905,305 |
Sales-type leases |  |  |  |  |  |
Interest income related to net investment in leases |  | $ | 49,244 |  |  | $ | 46,801 |  |  | $ | 38,385 |
Variable lease income excluding commercial rental (1) |  | $ | 289,165 |  |  | $ | 272,065 |  |  | $ | 244,911 |
_______________ (1)Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income. The components of the net investment in sales-type leases were as follows:
|  | December 31,
|  | 2020 |  | 2019
|  | (In thousands)
Net investment in the lease - lease payment receivable |  | $ | 589,120 |  |  | $ | 553,076 |
Net investment in the lease - unguaranteed residual value in assets |  | 44,704 |  |  | 44,952 |
|  | 633,824 |  |  | 598,028 |
Estimated loss allowance (1) |  | (4,025) |  |  | (673) |
Total (2) |  | $ | 629,799 |  |  | $ | 597,355 |
_______________ (1)Amount as of December 31, 2020 reflects an immaterial cumulative-effect adjustment in connection with the adoption of the new credit loss standard (refer to Note 1, "Summary of Significant Accounting Policies," for further information). (2)Net investment in the sales-type lease are included in "Receivables, net" and "Sales-type leases and other assets" in the Consolidated Balance Sheets. Maturities of sales-type lease receivables as of December 31, 2020 were as follows:
Years ending December 31 |  | (In thousands) |  |
2021 |  | $ | 174,421 |  |  |
2022 |  | 163,471 |  |  |
2023 |  | 124,641 |  |  |
2024 |  | 97,345 |  |  |
2025 |  | 70,662 |  |  |
Thereafter |  | 91,713 |  |  |
Total undiscounted cash flows |  | 722,253 |  |  |
Present value of lease payments (recognized as lease receivables) |  | (589,120) |  |  |
Difference between undiscounted cash flows and discounted cash flows |  | $ | 133,133 |  |  |
Payments due for operating leases as of December 31, 2020 were as follows:
Years ending December 31 |  | (In thousands) |  |
2021 |  | $ | 1,290,388 |  |  |
2022 |  | 968,254 |  |  |
2023 |  | 685,145 |  |  |
2024 |  | 474,389 |  |  |
2025 |  | 288,811 |  |  |
Thereafter |  | 185,823 |  |  |
Total undiscounted cash flows |  | $ | 3,892,810 |  |  |
Leases as Lessee The components of lease expense were as follows:
|  |  | Years ended December 31,
|  |  | 2020 |  | 2019 |  | 2018
|  |  | (In thousands)
Finance lease cost |  |  |  |  |  |  |
Amortization of right-of-use-assets |  |  | $ | 13,295 |  |  | $ | 13,671 |  |  | $ | 13,805 |
Interest on lease liabilities |  |  | 2,344 |  |  | 2,565 |  |  | 2,546 |
Operating lease cost |  |  | 92,227 |  |  | 94,039 |  |  | 87,741 |
Short-term lease and other |  |  | 8,432 |  |  | 10,963 |  |  | 10,017 |
Variable lease cost |  |  | 13,325 |  |  | 12,459 |  |  | 9,888 |
Sublease income |  |  | (27,223) |  |  | (22,385) |  |  | (23,261) |
Total lease cost |  |  | $ | 102,400 |  |  | $ | 111,312 |  |  | $ | 100,736 |
Supplemental balance sheet information relates to leases was as follows:
| December 31,
| 2020 |  | 2019
| Operating Lease |  | Finance Lease |  | Operating Lease |  | Finance Lease
| (In thousands)
Noncurrent assets (1) | $ | 255,964 |  |  | $ | 39,571 |  |  | $ | 214,809 |  |  | $ | 44,190 |
Current liabilities (2) | 78,785 |  |  | 13,282 |  |  | 72,285 |  |  | 12,381 |
Noncurrent liabilities (3) | 186,429 |  |  | 35,136 |  |  | 151,361 |  |  | 39,336 |
_______________ (1)Operating lease right-of-use assets are included in "Sales-type leases and other assets" and finance lease assets are included in "Other property and equipment, net" and "Revenue earning equipment, net". (2)Current operating lease liabilities are included in "Accrued expenses and other current liabilities" and current finance leases liabilities are included in "Short-term debt and current portion of long-term debt". (3)Noncurrent operating lease liabilities are included in "Other non-current liabilities" and noncurrent finance lease liabilities are included in "Long-term debt".
|  | December 31,
|  | 2020 |  | 2019
Weighted-average remaining lease term |  |  |  |
Operating |  | 4 years |  | 4 years
Finance |  | 6 years |  | 7 years
Weighted-average discount rate |  |  |  |
Operating |  | 3.3 | % |  | 4.0 | %
Finance |  | 5.6 | % |  | 6.6 | %
Maturities of operating and finance lease liabilities were as follows:
|  | Operating |  | Finance |  |
|  | Leases |  | Leases |  | Total
Years ending December 31 |  | (In thousands)
2021 |  | $ | 85,612 |  |  | $ | 15,179 |  |  | $ | 100,791 |
2022 |  | 70,707 |  |  | 12,111 |  |  | 82,818 |
2023 |  | 56,981 |  |  | 9,291 |  |  | 66,272 |
2024 |  | 33,151 |  |  | 6,612 |  |  | 39,763 |
2025 |  | 20,281 |  |  | 3,345 |  |  | 23,626 |
Thereafter |  | 15,738 |  |  | 9,112 |  |  | 24,850 |
Total lease payments |  | 282,470 |  |  | 55,650 |  |  | 338,120 |
Less: Imputed Interest |  | (17,256) |  |  | (7,232) |  |  | (24,488) |
Present value of lease liabilities |  | $ | 265,214 |  |  | $ | 48,418 |  |  | $ | 313,632 |
As of December 31, 2020, we have not entered into any additional facility operating leases that commence in 2021 and thereafter which have not been reflected on the Consolidated Balance Sheets.
LEASES | LEASES Leases as Lessor The components of revenue from leases were as follows:
|  | Years ended December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (In thousands)
Operating leases |  |  |  |  |  |
Lease income related to ChoiceLease |  | $ | 1,565,579 |  |  | $ | 1,505,913 |  |  | $ | 1,369,025 |
Lease income related to commercial rental (1) |  | 791,631 |  |  | 952,560 |  |  | 905,305 |
Sales-type leases |  |  |  |  |  |
Interest income related to net investment in leases |  | $ | 49,244 |  |  | $ | 46,801 |  |  | $ | 38,385 |
Variable lease income excluding commercial rental (1) |  | $ | 289,165 |  |  | $ | 272,065 |  |  | $ | 244,911 |
_______________ (1)Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income. The components of the net investment in sales-type leases were as follows:
|  | December 31,
|  | 2020 |  | 2019
|  | (In thousands)
Net investment in the lease - lease payment receivable |  | $ | 589,120 |  |  | $ | 553,076 |
Net investment in the lease - unguaranteed residual value in assets |  | 44,704 |  |  | 44,952 |
|  | 633,824 |  |  | 598,028 |
Estimated loss allowance (1) |  | (4,025) |  |  | (673) |
Total (2) |  | $ | 629,799 |  |  | $ | 597,355 |
_______________ (1)Amount as of December 31, 2020 reflects an immaterial cumulative-effect adjustment in connection with the adoption of the new credit loss standard (refer to Note 1, "Summary of Significant Accounting Policies," for further information). (2)Net investment in the sales-type lease are included in "Receivables, net" and "Sales-type leases and other assets" in the Consolidated Balance Sheets. Maturities of sales-type lease receivables as of December 31, 2020 were as follows:
Years ending December 31 |  | (In thousands) |  |
2021 |  | $ | 174,421 |  |  |
2022 |  | 163,471 |  |  |
2023 |  | 124,641 |  |  |
2024 |  | 97,345 |  |  |
2025 |  | 70,662 |  |  |
Thereafter |  | 91,713 |  |  |
Total undiscounted cash flows |  | 722,253 |  |  |
Present value of lease payments (recognized as lease receivables) |  | (589,120) |  |  |
Difference between undiscounted cash flows and discounted cash flows |  | $ | 133,133 |  |  |
Payments due for operating leases as of December 31, 2020 were as follows:
Years ending December 31 |  | (In thousands) |  |
2021 |  | $ | 1,290,388 |  |  |
2022 |  | 968,254 |  |  |
2023 |  | 685,145 |  |  |
2024 |  | 474,389 |  |  |
2025 |  | 288,811 |  |  |
Thereafter |  | 185,823 |  |  |
Total undiscounted cash flows |  | $ | 3,892,810 |  |  |
Leases as Lessee The components of lease expense were as follows:
|  |  | Years ended December 31,
|  |  | 2020 |  | 2019 |  | 2018
|  |  | (In thousands)
Finance lease cost |  |  |  |  |  |  |
Amortization of right-of-use-assets |  |  | $ | 13,295 |  |  | $ | 13,671 |  |  | $ | 13,805 |
Interest on lease liabilities |  |  | 2,344 |  |  | 2,565 |  |  | 2,546 |
Operating lease cost |  |  | 92,227 |  |  | 94,039 |  |  | 87,741 |
Short-term lease and other |  |  | 8,432 |  |  | 10,963 |  |  | 10,017 |
Variable lease cost |  |  | 13,325 |  |  | 12,459 |  |  | 9,888 |
Sublease income |  |  | (27,223) |  |  | (22,385) |  |  | (23,261) |
Total lease cost |  |  | $ | 102,400 |  |  | $ | 111,312 |  |  | $ | 100,736 |
Supplemental balance sheet information relates to leases was as follows:
| December 31,
| 2020 |  | 2019
| Operating Lease |  | Finance Lease |  | Operating Lease |  | Finance Lease
| (In thousands)
Noncurrent assets (1) | $ | 255,964 |  |  | $ | 39,571 |  |  | $ | 214,809 |  |  | $ | 44,190 |
Current liabilities (2) | 78,785 |  |  | 13,282 |  |  | 72,285 |  |  | 12,381 |
Noncurrent liabilities (3) | 186,429 |  |  | 35,136 |  |  | 151,361 |  |  | 39,336 |
_______________ (1)Operating lease right-of-use assets are included in "Sales-type leases and other assets" and finance lease assets are included in "Other property and equipment, net" and "Revenue earning equipment, net". (2)Current operating lease liabilities are included in "Accrued expenses and other current liabilities" and current finance leases liabilities are included in "Short-term debt and current portion of long-term debt". (3)Noncurrent operating lease liabilities are included in "Other non-current liabilities" and noncurrent finance lease liabilities are included in "Long-term debt".
|  | December 31,
|  | 2020 |  | 2019
Weighted-average remaining lease term |  |  |  |
Operating |  | 4 years |  | 4 years
Finance |  | 6 years |  | 7 years
Weighted-average discount rate |  |  |  |
Operating |  | 3.3 | % |  | 4.0 | %
Finance |  | 5.6 | % |  | 6.6 | %
Maturities of operating and finance lease liabilities were as follows:
|  | Operating |  | Finance |  |
|  | Leases |  | Leases |  | Total
Years ending December 31 |  | (In thousands)
2021 |  | $ | 85,612 |  |  | $ | 15,179 |  |  | $ | 100,791 |
2022 |  | 70,707 |  |  | 12,111 |  |  | 82,818 |
2023 |  | 56,981 |  |  | 9,291 |  |  | 66,272 |
2024 |  | 33,151 |  |  | 6,612 |  |  | 39,763 |
2025 |  | 20,281 |  |  | 3,345 |  |  | 23,626 |
Thereafter |  | 15,738 |  |  | 9,112 |  |  | 24,850 |
Total lease payments |  | 282,470 |  |  | 55,650 |  |  | 338,120 |
Less: Imputed Interest |  | (17,256) |  |  | (7,232) |  |  | (24,488) |
Present value of lease liabilities |  | $ | 265,214 |  |  | $ | 48,418 |  |  | $ | 313,632 |
As of December 31, 2020, we have not entered into any additional facility operating leases that commence in 2021 and thereafter which have not been reflected on the Consolidated Balance Sheets.
LEASES | LEASES Leases as Lessor The components of revenue from leases were as follows:
|  | Years ended December 31,
|  | 2020 |  | 2019 |  | 2018
|  | (In thousands)
Operating leases |  |  |  |  |  |
Lease income related to ChoiceLease |  | $ | 1,565,579 |  |  | $ | 1,505,913 |  |  | $ | 1,369,025 |
Lease income related to commercial rental (1) |  | 791,631 |  |  | 952,560 |  |  | 905,305 |
Sales-type leases |  |  |  |  |  |
Interest income related to net investment in leases |  | $ | 49,244 |  |  | $ | 46,801 |  |  | $ | 38,385 |
Variable lease income excluding commercial rental (1) |  | $ | 289,165 |  |  | $ | 272,065 |  |  | $ | 244,911 |
_______________ (1)Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income. The components of the net investment in sales-type leases were as follows:
|  | December 31,
|  | 2020 |  | 2019
|  | (In thousands)
Net investment in the lease - lease payment receivable |  | $ | 589,120 |  |  | $ | 553,076 |
Net investment in the lease - unguaranteed residual value in assets |  | 44,704 |  |  | 44,952 |
|  | 633,824 |  |  | 598,028 |
Estimated loss allowance (1) |  | (4,025) |  |  | (673) |
Total (2) |  | $ | 629,799 |  |  | $ | 597,355 |
_______________ (1)Amount as of December 31, 2020 reflects an immaterial cumulative-effect adjustment in connection with the adoption of the new credit loss standard (refer to Note 1, "Summary of Significant Accounting Policies," for further information). (2)Net investment in the sales-type lease are included in "Receivables, net" and "Sales-type leases and other assets" in the Consolidated Balance Sheets. Maturities of sales-type lease receivables as of December 31, 2020 were as follows:
Years ending December 31 |  | (In thousands) |  |
2021 |  | $ | 174,421 |  |  |
2022 |  | 163,471 |  |  |
2023 |  | 124,641 |  |  |
2024 |  | 97,345 |  |  |
2025 |  | 70,662 |  |  |
Thereafter |  | 91,713 |  |  |
Total undiscounted cash flows |  | 722,253 |  |  |
Present value of lease payments (recognized as lease receivables) |  | (589,120) |  |  |
Difference between undiscounted cash flows and discounted cash flows |  | $ | 133,133 |  |  |
Payments due for operating leases as of December 31, 2020 were as follows:
Years ending December 31 |  | (In thousands) |  |
2021 |  | $ | 1,290,388 |  |  |
2022 |  | 968,254 |  |  |
2023 |  | 685,145 |  |  |
2024 |  | 474,389 |  |  |
2025 |  | 288,811 |  |  |
Thereafter |  | 185,823 |  |  |
Total undiscounted cash flows |  | $ | 3,892,810 |  |  |
Leases as Lessee The components of lease expense were as follows:
|  |  | Years ended December 31,
|  |  | 2020 |  | 2019 |  | 2018
|  |  | (In thousands)
Finance lease cost |  |  |  |  |  |  |
Amortization of right-of-use-assets |  |  | $ | 13,295 |  |  | $ | 13,671 |  |  | $ | 13,805 |
Interest on lease liabilities |  |  | 2,344 |  |  | 2,565 |  |  | 2,546 |
Operating lease cost |  |  | 92,227 |  |  | 94,039 |  |  | 87,741 |
Short-term lease and other |  |  | 8,432 |  |  | 10,963 |  |  | 10,017 |
Variable lease cost |  |  | 13,325 |  |  | 12,459 |  |  | 9,888 |
Sublease income |  |  | (27,223) |  |  | (22,385) |  |  | (23,261) |
Total lease cost |  |  | $ | 102,400 |  |  | $ | 111,312 |  |  | $ | 100,736 |
Supplemental balance sheet information relates to leases was as follows:
| December 31,
| 2020 |  | 2019
| Operating Lease |  | Finance Lease |  | Operating Lease |  | Finance Lease
| (In thousands)
Noncurrent assets (1) | $ | 255,964 |  |  | $ | 39,571 |  |  | $ | 214,809 |  |  | $ | 44,190 |
Current liabilities (2) | 78,785 |  |  | 13,282 |  |  | 72,285 |  |  | 12,381 |
Noncurrent liabilities (3) | 186,429 |  |  | 35,136 |  |  | 151,361 |  |  | 39,336 |
_______________ (1)Operating lease right-of-use assets are included in "Sales-type leases and other assets" and finance lease assets are included in "Other property and equipment, net" and "Revenue earning equipment, net". (2)Current operating lease liabilities are included in "Accrued expenses and other current liabilities" and current finance leases liabilities are included in "Short-term debt and current portion of long-term debt". (3)Noncurrent operating lease liabilities are included in "Other non-current liabilities" and noncurrent finance lease liabilities are included in "Long-term debt".
|  | December 31,
|  | 2020 |  | 2019
Weighted-average remaining lease term |  |  |  |
Operating |  | 4 years |  | 4 years
Finance |  | 6 years |  | 7 years
Weighted-average discount rate |  |  |  |
Operating |  | 3.3 | % |  | 4.0 | %
Finance |  | 5.6 | % |  | 6.6 | %
Maturities of operating and finance lease liabilities were as follows:
|  | Operating |  | Finance |  |
|  | Leases |  | Leases |  | Total
Years ending December 31 |  | (In thousands)
2021 |  | $ | 85,612 |  |  | $ | 15,179 |  |  | $ | 100,791 |
2022 |  | 70,707 |  |  | 12,111 |  |  | 82,818 |
2023 |  | 56,981 |  |  | 9,291 |  |  | 66,272 |
2024 |  | 33,151 |  |  | 6,612 |  |  | 39,763 |
2025 |  | 20,281 |  |  | 3,345 |  |  | 23,626 |
Thereafter |  | 15,738 |  |  | 9,112 |  |  | 24,850 |
Total lease payments |  | 282,470 |  |  | 55,650 |  |  | 338,120 |
Less: Imputed Interest |  | (17,256) |  |  | (7,232) |  |  | (24,488) |
Present value of lease liabilities |  | $ | 265,214 |  |  | $ | 48,418 |  |  | $ | 313,632 |
As of December 31, 2020, we have not entered into any additional facility operating leases that commence in 2021 and thereafter which have not been reflected on the Consolidated Balance Sheets.

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- References No definition available. + Details
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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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- Definition The entire disclosure of lessor's sales-type leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 1 -URI http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 3 -URI http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
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