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v3.19.1

Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2019
Accounting Policies [Abstract] |
Cumulative Effect of Adjustments for Adoption of Topic 842 | The adoption of ASC 842 did not have a material affect on our unaudited condensed consolidated statements of income or unaudited condensed consolidated statements of cash flows. The effect of the adoption of ASC 842, “Leases,” on our unaudited condensed consolidated balance sheet as of January 1, 2019 and March 31, 2019 was as follows:
| Before Impact of ASC 842 |  | Effects of Adoption of ASC 842 |  | After Impact of ASC 842
| December 31, 2018 |  |  |  | January 1, 2019
Balance Sheet |  |  | (In thousands) |  |
Assets: |  |  |  |  |
Property and Equipment, net | $ | 1,178,489 |  | $ | (18,948) |  | $ | 1,159,541
Other Intangible Assets, net | 69,705 |  | (4,005) |  | 65,700
Right-of-Use Assets | — |  | 406,918 |  | 406,918
Liabilities: |  |  |  |  |
Current lease liabilities | $ | — |  | $ | 48,832 |  | $ | 48,832
Other accrued liabilities | 257,823 |  | (1,987) |  | 255,836
Long-Term Debt | 918,779 |  | (20,557) |  | 898,222
Long-Term Lease Liabilities | — |  | 370,647 |  | 370,647
Other Long-Term Liabilities | 75,887 |  | (2,508) |  | 73,379
Deferred Income Taxes | 33,178 |  | (3,034) |  | 30,144
Stockholders' Equity: |  |  |  |  |
Retained earnings | $ | 670,691 |  | $ | (7,428) |  | $ | 663,263
| Adoption of ASC 842 as of January 1, 2019 |  | New Leases |  | Modifications (1) |  | Amortization |  | As Reported March 31, 2019
| (In thousands) |  |  |  |  |  |  |  |
Right-of-Use Assets: |  |  |  |  |  |  |  |  |
Finance Leases | $ | 18,948 |  | $ | — |  | $ | 21,520 |  | $ | (709) |  | $ | 39,759
Operating Leases | 387,970 |  | — |  | (33,697) |  | (11,052) |  | 343,221
Total Right-of-Use Assets | $ | 406,918 |  | $ | — |  | $ | (12,177) |  | $ | (11,761) |  | $ | 382,980
Current Lease Liabilities: |  |  |  |  |  |  |  |  |
Finance Leases | $ | 728 |  | $ | — |  | $ | 4,510 |  | $ | — |  | $ | 5,238
Operating Leases | 48,104 |  | 21 |  | (1,473) |  | (1,295) |  | 45,357
Total Current Lease Liabilities | $ | 48,832 |  | $ | 21 |  | $ | 3,037 |  | $ | (1,295) |  | $ | 50,595
Long-Term Lease Liabilities: |  |  |  |  |  |  |  |  |
Finance Leases | $ | 19,829 |  | $ | — |  | $ | 16,935 |  | $ | — |  | $ | 36,764
Operating Leases | 350,818 |  | — |  | (32,262) |  | (10,397) |  | 308,159
Total Long-Term Lease Liabilities | $ | 370,647 |  | $ | — |  | $ | (15,327) |  | $ | (10,397) |  | $ | 344,923
Lease Expenses |
| Three Months Ended March 31, 2019
Lease Expense | (In thousands)
Finance lease expense: |
Amortization of right-of use assets | $ | 709
Interest on lease liabilities | 1,176
Operating lease expense (1) | 17,997
Short-term lease expense (1) | 427
Variable lease expense | 114
Sublease income | (3,578)
Total | $ | 16,845
(1) Included in operating cash flows in the accompanying condensed consolidated statements of cash flows.
| Three Months Ended March 31, 2019
| (In thousands, except lease term)
Other Information |
Cash paid for amounts included in the measurement of lease liabilities: |
Financing cash flows for finance leases | $ | 281
Operating cash flows for finance leases | $ | 1,176
Operating cash flows for operating leases | $ | 18,469
Right-of-use assets obtained in exchange for lease liabilities: |
Finance leases | $ | 9,983
Operating leases (1) | $ | (10,711)
Weighted-average remaining lease term (in years): |
Finance leases | 11.42
Operating leases | 9.76
Weighted-average discount rate: |
Finance leases | 18.31 | %
Operating leases | 6.86 | %
(1) Includes the impact of reclassification of right-of-use assets from operating to finance due to remeasurement.
Lessee, Operating Lease, Liability, Maturity |
| Undiscounted Lease Cash Flows Under ASC 842 as of March 31, 2019 |  |  |  |
| Finance |  | Operating |  | Receipts from Subleases
Year Ending December 31, | (In thousands) |  |  |  |
2019 | $ | 8,786 |  | $ | 51,413 |  | $ | (11,855)
2020 | 6,530 |  | 62,828 |  | (12,274)
2021 | 6,662 |  | 55,693 |  | (9,234)
2022 | 6,662 |  | 47,966 |  | (6,547)
2023 | 6,714 |  | 46,198 |  | (6,547)
Thereafter | 49,893 |  | 234,758 |  | (9,592)
Total | $ | 85,247 |  | $ | 498,856 |  | $ | (56,049)
Less: Present value discount | (43,414) |  | (145,173) |  |
Lease liabilities | $ | 41,833 |  | $ | 353,683 |  |
For comparison purposes the following table provides the future minimum lease payments as presented in our Annual Report on Form 10-K for the year ended December 31, 2018 in accordance with ASC 840.
| Undiscounted Lease Cash Flows Under ASC 840 as of December 31, 2018 |  |  |  |
| Finance |  | Operating |  | Receipts from Subleases
Year Ending December 31, | (In thousands) |  |  |  |
2019 | $ | 6,985 |  | $ | 82,177 |  | $ | (13,430)
2020 | 7,165 |  | 66,023 |  | (10,508)
2021 | 7,357 |  | 51,501 |  | (8,534)
2022 | 7,374 |  | 37,152 |  | (7,232)
2023 | 7,609 |  | 33,486 |  | (7,013)
Thereafter | 482,390 |  | 127,026 |  | (13,116)
Total minimum lease payments (receipts) | $ | 518,880 |  | $ | 397,365 |  | $ | (59,833)
Less: Present value discount | (498,291) |  |  |  |
Lease liabilities | $ | 20,589 |  |  |  |
Current portion of lease liabilities | $ | 643 |  |  |  |
Long-term portion of lease liabilities | $ | 19,946 |  |  |  |
Finance Lease, Liability, Maturity |
| Undiscounted Lease Cash Flows Under ASC 842 as of March 31, 2019 |  |  |  |
| Finance |  | Operating |  | Receipts from Subleases
Year Ending December 31, | (In thousands) |  |  |  |
2019 | $ | 8,786 |  | $ | 51,413 |  | $ | (11,855)
2020 | 6,530 |  | 62,828 |  | (12,274)
2021 | 6,662 |  | 55,693 |  | (9,234)
2022 | 6,662 |  | 47,966 |  | (6,547)
2023 | 6,714 |  | 46,198 |  | (6,547)
Thereafter | 49,893 |  | 234,758 |  | (9,592)
Total | $ | 85,247 |  | $ | 498,856 |  | $ | (56,049)
Less: Present value discount | (43,414) |  | (145,173) |  |
Lease liabilities | $ | 41,833 |  | $ | 353,683 |  |
For comparison purposes the following table provides the future minimum lease payments as presented in our Annual Report on Form 10-K for the year ended December 31, 2018 in accordance with ASC 840.
| Undiscounted Lease Cash Flows Under ASC 840 as of December 31, 2018 |  |  |  |
| Finance |  | Operating |  | Receipts from Subleases
Year Ending December 31, | (In thousands) |  |  |  |
2019 | $ | 6,985 |  | $ | 82,177 |  | $ | (13,430)
2020 | 7,165 |  | 66,023 |  | (10,508)
2021 | 7,357 |  | 51,501 |  | (8,534)
2022 | 7,374 |  | 37,152 |  | (7,232)
2023 | 7,609 |  | 33,486 |  | (7,013)
Thereafter | 482,390 |  | 127,026 |  | (13,116)
Total minimum lease payments (receipts) | $ | 518,880 |  | $ | 397,365 |  | $ | (59,833)
Less: Present value discount | (498,291) |  |  |  |
Lease liabilities | $ | 20,589 |  |  |  |
Current portion of lease liabilities | $ | 643 |  |  |  |
Long-term portion of lease liabilities | $ | 19,946 |  |  |  |

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