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LEASES | 12 Months Ended
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Dec. 31, 2021
Leases [Abstract] |
LEASES | LEASESOur material lease contracts are for facilities and advanced radiology equipment. In regards to our imaging, administrative and warehouse facilities, the most common initial lease term varies in length from 5 to 15 years. Including renewal options negotiated with the landlord, we can have a total span of 10 to 35 years at these locations, and we do not enter into purchase options on the underlying property. We also lease smaller satellite X-Ray locations on mutually renewable terms, usually lasting one year. Leases for advanced radiology and office equipment have terms generally lasting from 5 to 8 years. All leases are classified as operating or finance for accounting purposes, depending on the terms of the agreement. Our Incremental Borrowing Rate ("IBR") used to discount the stream of lease payments is closely related to the interest rates charged on our collateralized debt obligations and our IBR is adjusted when those rates experience a substantial change. During 2021, we satisfied all liabilities classified as finance leases, and only operating leases remain. The components of lease expense were as follows:
| Years ended December 31,
(In thousands) | 2021 | 2020
Operating lease cost(1) | $ | 121,578 |  | $ | 99,323 |
Finance lease cost: |  |
Depreciation of leased equipment | $ | 3,068 |  | $ | 3,122 |
Interest on lease liabilities | 46 |  | 210 |
Total finance lease cost | $ | 3,114 |  | $ | 3,332 |
1) Operating lease cost above for the year ended December 31, 2021 includes $12.6 million in lease abandonment charges. Please see our discussion in the Leases section of Note 2, Summary of Significant Accounting Policies Supplemental cash flow information related to leases was as follows:
| Years ended December 31,
(In thousands) | 2021 | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |
Operating cash flows from operating leases (1) | $ | 110,288 |  | $ | 89,821 |
Operating cash flows from financing leases | 46 |  | 210 |
Financing cash flows from financing leases | 3,304 |  | 3,304 |
Right-of-use & Equipment assets obtained in exchange for lease obligations: |  |
Operating leases | 186,695 |  | 106,099 |
Financing leases | — |  | 24 |
1) On December 31, 2021 we reduced our liability and eliminated the related right-of-use assets for future lease options at facilities that we elected to abandon. The amount of liability and right-of-use asset reduction amounted to approximately $3.3 million. Supplemental balance sheet information related to leases was as follows:
(In thousands, except lease term and discount rates) | December 31,
| 2021 | 2020
Operating Leases |  |
Operating lease right-of-use assets | $ | 584,291 |  | $ | 483,661 |
Current portion of operating lease liability | 65,452 |  | 65,794 |
Operating lease liabilities | 577,675 |  | 463,096 |
Total operating lease liabilities | $ | 643,127 |  | $ | 528,890 |
Finance Leases |  |
Equipment at cost | $ | 13,984 |  | $ | 13,984 |
Accumulated depreciation | (9,287) |  | (6,220) |
Equipment, net | $ | 4,697 |  | $ | 7,764 |
Current portion of finance lease liability | $ | — |  | $ | 2,578 |
Finance lease liabilities | — |  | 743 |
Total finance lease liabilities | $ | — |  | $ | 3,321 |
Weighted Average Remaining Lease Term |  |
Operating leases - years | 10.4 | 9.2
Finance leases - years | 0.0 | 2.5
Weighted Average Discount Rate |  |
Operating leases | 6.3 | % | 6.4 | %
Finance leases | — | % | 4.4 | %
Maturities of lease liabilities were as follows:
(In thousands) |  |
| Operating |
Year Ending December 31, | Leases |
2022 | $ | 103,831 |  |
2023 | 96,894 |  |
2024 | 88,682 |  |
2025 | 79,409 |  |
2026 | 73,912 |  |
Thereafter | 457,425 |  |
Total Lease Payments | 900,153 |  |
Less imputed interest | (257,026) |  |
Total | $ | 643,127 |  |
As of December 31, 2021, we have additional operating leases for facilities and medical equipment that have not yet commenced of approximately $19.0 million. These operating leases will commence in 2022 with lease terms of 1 to 15 years.

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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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