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v3.21.2

LEASES | 9 Months Ended
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Sep. 30, 2021
LEASES |
LEASES | NOTE E – LEASES ​ The Company leases, under finance and operating lease arrangements, certain facilities used primarily in the Asset-Based segment service center operations, certain revenue equipment used in the ArcBest segment operations, and certain other office equipment. ​ The components of operating lease expense were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​
​ | ​ | September 30 | ​ | September 30 | ​
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020 |
​ | ​ | (in thousands) | ​
Operating lease expense | ​ | $ | 6,575 | ​ | $ | 6,351 | ​ | $ | 19,801 | ​ | $ | 17,950 | ​
Variable lease expense | ​ | ​ | 957 | ​ | ​ | 665 | ​ | ​ | 3,252 | ​ | ​ | 2,248 | ​
Sublease income | ​ | ​ | (157) | ​ | ​ | (120) | ​ | ​ | (468) | ​ | ​ | (254) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total operating lease expense(1) | ​ | $ | 7,375 | ​ | $ | 6,896 | ​ | $ | 22,585 | ​ | $ | 19,944 | ​
(1) | Operating lease expense excludes short-term leases with a term of 12 months or less.
​ The operating cash flows from operating lease activity were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 30 | ​
​ | ​ | 2021 | ​ | 2020 |
​ | ​ | (in thousands) | ​
Noncash change in operating right-of-use assets | ​ | $ | 17,256 | ​ | $ | 15,718 | ​
Change in operating lease liabilities | ​ | ​ | (16,606) | ​ | ​ | (15,484) | ​
Operating right-of-use-assets and lease liabilities, net | ​ | $ | 650 | ​ | $ | 234 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of operating lease liabilities | ​ | $ | (19,128) | ​ | $ | (17,715) | ​
​ Maturities of operating lease liabilities at September 30, 2021 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Equipment | ​
​ | ​ | ​ | ​ | ​ | Land and | ​ | and | ​
​ |  | Total |  | Structures(1) |  | Other |
​ |  | (in thousands) | ​
Remainder of 2021 | ​ | $ | 6,616 | ​ | $ | 6,529 | ​ | $ | 87 | ​
2022 | ​ |  | 23,448 | ​ |  | 23,180 | ​ |  | 268 | ​
2023 | ​ |  | 18,392 | ​ |  | 18,367 | ​ |  | 25 | ​
2024 | ​ |  | 16,098 | ​ |  | 16,098 | ​ |  | — | ​
2025 | ​ |  | 13,397 | ​ |  | 13,397 | ​ |  | — | ​
Thereafter | ​ |  | 44,108 | ​ |  | 44,108 | ​ |  | — | ​
Total lease payments | ​ | ​ | 122,059 | ​ | ​ | 121,679 | ​ | ​ | 380 | ​
Less imputed interest | ​ | ​ | (12,062) | ​ | ​ | (12,060) | ​ | ​ | (2) | ​
Total | ​ | $ | 109,997 | ​ | $ | 109,619 | ​ | $ | 378 | ​
(1) | Excludes future minimum lease payments for a lease which was executed but had not yet commenced as of September 30, 2021 of $37.3 million which will be paid over approximately 10 years. The Company plans to take possession of the leased space in fourth quarter 2022.
​

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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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