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v3.22.1

Leases (Tables) | 3 Months Ended
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Mar. 31, 2022
Leases [Abstract] |
Assets and Liabilities, Lessee | The following table provides information on the amounts (in thousands) of our right-of-use assets (“ROU assets”) and liabilities as of March 31, 2022 and December 31, 2021 and their placement within our condensed consolidated balance sheets:
Lease type |  | Balance Sheet Location |  | March 31, 2022 |  | December 31, 2021
Assets |  |  |  |  |  |
Finance |  | Property, plant, and equipment |  | $ | 21,150 |  |  | $ | 20,556 |
Finance |  | Accumulated amortization |  | (8,880) |  |  | (8,397) |
Finance |  | Property, plant, and equipment, net |  | $ | 12,270 |  |  | $ | 12,159 |
Operating |  | Operating lease right-of-use assets |  | 377,745 |  |  | 383,824 |
Total right-of-use assets |  | $ | 390,015 |  |  | $ | 395,983 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Finance |  | Other accrued liabilities |  | $ | 1,685 |  |  | $ | 1,540 |
Operating |  | Operating lease liabilities |  | 55,440 |  |  | 53,640 |
Long-term |  |  |  |  |  |
Finance |  | Finance lease liabilities |  | 7,653 |  |  | 7,691 |
Operating |  | Operating lease liabilities |  | 330,031 |  |  | 335,094 |
Total lease liabilities |  |  |  | $ | 394,809 |  |  | $ | 397,965 |
The following table summarizes the weighted-average lease terms and discount rates of our leases as of March 31, 2022 and December 31, 2021:
|  |  |  | March 31, 2022 |  | December 31, 2021
Weighted-average remaining lease term (in years) |  |  |  |
Finance |  |  |  | 6.07 |  | 6.29
Operating |  |  |  | 11.11 |  | 11.28
Weighted-average discount rate |  |  |  |
Finance |  |  |  | 7.31 | % |  | 7.46 | %
Operating |  |  |  | 6.68 | % |  | 6.70 | %
Lease, Cost | The following table summarizes the lease costs recognized in our condensed consolidated statements of operations (in thousands):
|  |  |  |  |  | Three Months Ended March 31,
Lease cost type |  |  |  |  |  |  |  | 2022 |  | 2021
Finance lease cost |  |  |  |  |  |  |  |  |  |
Amortization of finance lease ROU assets |  |  |  |  |  |  |  | $ | 484 |  |  | $ | 490 |
Interest on lease liabilities |  |  |  |  |  |  |  | 161 |  |  | 174 |
Operating lease cost |  |  |  |  |  |  |  | 22,254 |  |  | 22,377 |
Variable lease cost |  |  |  |  |  |  |  | 1,246 |  |  | 1,772 |
Short-term lease cost |  |  |  |  |  |  |  | 986 |  |  | 29 |
Net lease cost |  |  |  |  |  |  |  | $ | 25,131 |  |  | $ | 24,842 |
The following table summarizes the supplemental cash flow information related to leases as follows (in thousands):
|  |  |  | Three Months Ended March 31,
Lease type |  |  |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of liabilities |  |  |  |  |  |
Financing cash flows from finance leases |  |  |  | $ | 482 |  |  | $ | 1,539 |
Operating cash flows from finance leases |  |  |  | 161 |  |  | 176 |
Operating cash flows from operating leases |  |  |  | 19,394 |  |  | 19,704 |
Non-cash supplemental amounts |  |  |  |  |  |
ROU assets obtained in exchange for new finance lease liabilities |  |  |  | 594 |  |  | 1,072 |
ROU assets obtained in exchange for new operating lease liabilities |  |  |  | 10,678 |  |  | 85,426 |
ROU assets terminated in exchange for release from operating lease liabilities |  |  |  | 1,029 |  |  | — |
Lessee, Operating Lease, Liability, Maturity | The table below includes the estimated future undiscounted cash flows for finance and operating leases as of March 31, 2022 (in thousands):
For the year ending December 31, |  | Finance leases |  | Operating leases |  | Total
2022 (1) |  | $ | 1,700 |  |  | $ | 62,261 |  |  | $ | 63,961 |
2023 |  | 2,286 |  |  | 63,617 |  |  | 65,903 |
2024 |  | 1,955 |  |  | 55,588 |  |  | 57,543 |
2025 |  | 1,794 |  |  | 51,354 |  |  | 53,148 |
2026 |  | 1,327 |  |  | 46,756 |  |  | 48,083 |
2027 |  | 1,097 |  |  | 44,848 |  |  | 45,945 |
Thereafter |  | 1,582 |  |  | 191,789 |  |  | 193,371 |
Total lease payments |  | 11,741 |  |  | 516,213 |  |  | 527,954 |
Less amount representing interest |  | (2,403) |  |  | (130,742) |  |  | (133,145) |
Present value of lease liabilities |  | $ | 9,338 |  |  | $ | 385,471 |  |  | $ | 394,809 |
_________________________________________________________ (1)Represents the period from April 1, 2022 to December 31, 2022.
Finance Lease, Liability, Maturity | The table below includes the estimated future undiscounted cash flows for finance and operating leases as of March 31, 2022 (in thousands):
For the year ending December 31, |  | Finance leases |  | Operating leases |  | Total
2022 (1) |  | $ | 1,700 |  |  | $ | 62,261 |  |  | $ | 63,961 |
2023 |  | 2,286 |  |  | 63,617 |  |  | 65,903 |
2024 |  | 1,955 |  |  | 55,588 |  |  | 57,543 |
2025 |  | 1,794 |  |  | 51,354 |  |  | 53,148 |
2026 |  | 1,327 |  |  | 46,756 |  |  | 48,083 |
2027 |  | 1,097 |  |  | 44,848 |  |  | 45,945 |
Thereafter |  | 1,582 |  |  | 191,789 |  |  | 193,371 |
Total lease payments |  | 11,741 |  |  | 516,213 |  |  | 527,954 |
Less amount representing interest |  | (2,403) |  |  | (130,742) |  |  | (133,145) |
Present value of lease liabilities |  | $ | 9,338 |  |  | $ | 385,471 |  |  | $ | 394,809 |
_________________________________________________________ (1)Represents the period from April 1, 2022 to December 31, 2022.

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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