XML 54 R14.htm IDEA: XBRL DOCUMENT v3.24.0.1
Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases Leases
As of December 31, 2023, the undiscounted future lease payments for operating and finance lease liabilities were as follows:
(in thousands)Operating LeasesFinance Leases
2024$69,429 $23,927 
202560,490 23,550 
202647,465 23,234 
202736,903 19,982 
202826,212 22,473 
Thereafter48,153 22,138 
Total lease payments288,652 135,304 
Less: interest(43,407)(18,205)
Present value of lease liabilities$245,245 $117,099 
Finance lease liabilities are included within long-term debt and current portion of long-term debt on the consolidated balance sheets.
The Company’s lease activity during the years ended December 31, 2023, 2022, and 2021 was as follows:
Years Ended December 31,
Financial Statement Line (in thousands)
202320222021
Finance Lease Expense
Amortization of finance lease assets$16,945 $13,900 $12,602 
Interest on obligations under finance leases3,777 1,899 1,406 
Total finance lease expense$20,722 $15,799 $14,008 
Operating Lease Expense
Fixed lease expense
Cost of leasing and services$1,396 $2,797 $3,979 
Selling, general and administrative67,374 60,017 56,005 
Short-term lease expense
Cost of leasing and services26,010 32,947 22,335 
Selling, general and administrative1,789 1,792 794 
Variable lease expense
Cost of leasing and services2,109 5,388 7,794 
Selling, general and administrative8,380 7,289 5,134 
Total operating lease expense$107,058 $110,230 $96,041 
Supplemental cash flow information related to leases for the years ended December 31, 2023, 2022, and 2021 were as follows:
Years Ended December 31,
Supplemental Cash Flow Information (in thousands)
202320222021
Cash paid for the amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$68,889 $61,418 $58,931 
Operating cash outflows from finance leases$3,715 $1,895 $1,432 
Financing cash outflows from finance leases$16,510 $15,159 $12,476 
Right of use assets obtained in exchange for lease obligations$95,897 $55,005 $66,887 
Assets obtained in exchange for finance leases $58,737 $29,803 $19,435 
Weighted-average remaining operating lease terms and the weighted average discount rates as of December 31 were as follows:
Lease Terms and Discount Rates20232022
Weighted-average remaining lease term - operating leases5.4 years5.8 years
Weighted-average discount rate - operating leases5.9 %5.4 %
Weighted-average remaining lease term - finance leases5.0 years5.1 years
Weighted-average discount rate - finance leases4.8 %3.4 %
Leases Leases
As of December 31, 2023, the undiscounted future lease payments for operating and finance lease liabilities were as follows:
(in thousands)Operating LeasesFinance Leases
2024$69,429 $23,927 
202560,490 23,550 
202647,465 23,234 
202736,903 19,982 
202826,212 22,473 
Thereafter48,153 22,138 
Total lease payments288,652 135,304 
Less: interest(43,407)(18,205)
Present value of lease liabilities$245,245 $117,099 
Finance lease liabilities are included within long-term debt and current portion of long-term debt on the consolidated balance sheets.
The Company’s lease activity during the years ended December 31, 2023, 2022, and 2021 was as follows:
Years Ended December 31,
Financial Statement Line (in thousands)
202320222021
Finance Lease Expense
Amortization of finance lease assets$16,945 $13,900 $12,602 
Interest on obligations under finance leases3,777 1,899 1,406 
Total finance lease expense$20,722 $15,799 $14,008 
Operating Lease Expense
Fixed lease expense
Cost of leasing and services$1,396 $2,797 $3,979 
Selling, general and administrative67,374 60,017 56,005 
Short-term lease expense
Cost of leasing and services26,010 32,947 22,335 
Selling, general and administrative1,789 1,792 794 
Variable lease expense
Cost of leasing and services2,109 5,388 7,794 
Selling, general and administrative8,380 7,289 5,134 
Total operating lease expense$107,058 $110,230 $96,041 
Supplemental cash flow information related to leases for the years ended December 31, 2023, 2022, and 2021 were as follows:
Years Ended December 31,
Supplemental Cash Flow Information (in thousands)
202320222021
Cash paid for the amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$68,889 $61,418 $58,931 
Operating cash outflows from finance leases$3,715 $1,895 $1,432 
Financing cash outflows from finance leases$16,510 $15,159 $12,476 
Right of use assets obtained in exchange for lease obligations$95,897 $55,005 $66,887 
Assets obtained in exchange for finance leases $58,737 $29,803 $19,435 
Weighted-average remaining operating lease terms and the weighted average discount rates as of December 31 were as follows:
Lease Terms and Discount Rates20232022
Weighted-average remaining lease term - operating leases5.4 years5.8 years
Weighted-average discount rate - operating leases5.9 %5.4 %
Weighted-average remaining lease term - finance leases5.0 years5.1 years
Weighted-average discount rate - finance leases4.8 %3.4 %