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Leases (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Schedule of Consolidated Balance Sheet Information Related to Leases |
(in thousands) |  |  |  |  |  | December 31,
Presentation and Classification: |  |  |  | 2023 |  | 2022
Operating |  | Current |  | Prepaid expenses and other current assets |  | $ | 75 |  |  | $ | 121 |
Operating |  | Non-current |  | Other assets |  | 91,725 |  |  | 93,057 |
Finance |  | Non-current |  | Property and equipment, net(1) |  | 82,803 |  |  | 66,704 |
Total right-of-use assets |  | $ | 174,603 |  |  | $ | 159,882 |
Operating |  | Current |  | Accrued expenses and other current liabilities |  | $ | 15,979 |  |  | $ | 20,741 |
Finance |  | Current |  | Current maturities of long-term debt |  | 33,934 |  |  | 34,219 |
Operating |  | Non-current |  | Other liabilities |  | 84,695 |  |  | 85,249 |
Finance |  | Non-current |  | Long-term debt |  | 53,227 |  |  | 36,424 |
Total lease liabilities |  | $ | 187,835 |  |  | $ | 176,633 |
_________________ (1) Finance right-of-use assets are recorded net of accumulated depreciation of approximately $60 million and $61 million as of December 31, 2023 and 2022, respectively.
Schedule of Lease Cost |
|  | Years Ended December 31,
(in thousands) |  | 2023 |  | 2022 |  | 2021
Operating lease cost |  | $ | 31,357 |  |  | $ | 33,574 |  |  | $ | 37,817 |
Finance lease cost: |  |  |  |  |  |
Amortization of right-of-use assets |  | 23,922 |  |  | 19,539 |  |  | 18,407 |
Interest on lease liabilities |  | 3,768 |  |  | 2,662 |  |  | 1,973 |
Variable lease costs |  | 46,380 |  |  | 62,316 |  |  | 51,156 |
Total lease cost |  | $ | 105,427 |  |  | $ | 118,091 |  |  | $ | 109,353 |
Supplementary Cash Flow Information | The following table summarizes supplementary cash flow information and material non-cash investing and financing transactions, excluding leases (refer to Note 15 “Leases”):
| Years Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Interest paid, net of interest income received(1) | $ | 522,775 |  |  | $ | 470,947 |  |  | $ | 512,628 |
Payments (refunds) on income taxes, net | $ | 60,296 |  |  | $ | 22,654 |  |  | $ | 1,877 |
Issuance of shares for acquisition of businesses(2) | $ | — |  |  | $ | 55,485 |  |  | $ | 528,503 |
Contingent forward purchase contract(3) | $ | — |  |  | $ | 41,938 |  |  | $ | — |
___________________ (1)Includes finance leases and interest rate swaps. Refer to Note 9 “Derivative Financial Instruments.” (2)2021 relates to the ADT Solar Acquisition and 2022 includes $40 million related to the Delayed Shares (as defined and discussed in Note 4 “Acquisitions”) as a result of the ADT Solar Acquisition. (3)During 2022, the Company recorded a reduction to additional paid in capital as a result of the contingent forward purchase contract in connection with the Tender Offer (as defined and discussed in Note 11 “Equity”).
|  | Years Ended December 31,
(in thousands) |  | 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating leases: |  |  |  |  |  |
Operating cash flows |  | $ | 42,883 |  |  | $ | 47,708 |  |  | $ | 50,721 |
Finance Leases: |  |  |  |  |  |
Operating cash flows |  | $ | 4,940 |  |  | $ | 3,680 |  |  | $ | 2,823 |
Financing cash flows |  | $ | 43,733 |  |  | $ | 44,978 |  |  | $ | 32,123 |
Right-of-use assets obtained in exchange for lease obligations |  |  |  |  |  |
Operating leases |  | $ | 41,338 |  |  | $ | 49,193 |  |  | $ | 21,203 |
Finance leases |  | $ | 79,273 |  |  | $ | 48,439 |  |  | $ | 46,920 |
__________________ (1)Includes both continuing and discontinued operations consistent with the presentation on the Consolidated Statements of Cash Flows.
Schedule of Operating and Finance Lease Weighted Average Lease Term and Discount Rate |
|  | December 31,
|  | 2023 |  | 2022
Weighted-average remaining lease term (years): |  |  |  |
Operating leases |  | 5.6 |  | 5.8
Finance leases |  | 3.1 |  | 2.9
Weighted-average discount rate: |  |  |  |
Operating leases |  | 6.1 | % |  | 5.9 | %
Finance leases |  | 5.8 | % |  | 5.6 | %
Schedule of Operating and Finance Lease, Liability, Maturity |
|  | December 31, 2023
(in thousands) |  | Operating Leases |  | Finance Leases
2024 |  | $ | 19,296 |  |  | $ | 34,592 |
2025 |  | 26,100 |  |  | 31,152 |
2026 |  | 21,170 |  |  | 20,426 |
2027 |  | 16,698 |  |  | 10,510 |
2028 |  | 11,854 |  |  | 504 |
Thereafter |  | 28,426 |  |  | — |
Total lease payments (including interest) |  | $ | 123,544 |  |  | $ | 97,184 |
Less interest |  | 22,870 |  |  | 10,023 |
Total |  | $ | 100,674 |  |  | $ | 87,161 |

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