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Lease (Notes) | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Lessee, Operating Leases [Text Block] | Leases Total rental expense for operating leases for the years ended December 31, 2020, 2019 and 2018 was $24.6 million, $15.0 million and $12.7 million, respectively. The Company had six aircraft under finance leases as of December 31, 2020 with remaining terms through 2029. Lease Costs The components of lease costs recognized on the statements of income were as follows:
|  | Year Ended December 31,
(in thousands) | Classification on the Statements of Income | 2020 |  | 2019
Finance lease costs: |  |  |  |
Amortization of assets | Depreciation and amortization | $ | 6,631 |  |  | $ | 6,517 |
Interest on lease liabilities | Interest expense | 5,335 |  |  | 5,264 |
Operating lease cost | Aircraft lease rentals; Station operations; Maintenance and repairs; Other operating expense | 12,616 |  |  | 3,541 |
Variable lease cost | Station operations; Maintenance and repairs; Other operating expense | 3,560 |  |  | 2,274 |
Total lease cost |  | $ | 28,142 |  |  | $ | 17,596 |
Lease position as of December 31, 2020 The table below presents the lease-related assets and liabilities recorded on the balance sheet.
|  | As of December 31,
(in thousands) | Classification on the Balance Sheet | 2020 |  | 2019
Assets |  |  |  |
Operating lease assets | Operating lease right-of-use assets, net | $ | 115,911 |  |  | $ | 22,081 |
Finance lease assets | Property and equipment, net | 133,175 |  |  | 111,665 |
Total lease assets |  | $ | 249,086 |  |  | $ | 133,746 |
Liabilities |  |  |  |
Current |  |  |  |
Operating | Current operating lease liabilities | $ | 14,313 |  |  | $ | 2,662 |
Finance | Current maturities of long-term debt and finance lease obligations | 9,767 |  |  | 7,666 |
Noncurrent |  |  |  |
Operating | Noncurrent operating lease liabilities | 102,289 |  |  | 21,290 |
Finance | Long-term debt and finance lease obligations | 117,060 |  |  | 107,930 |
Total lease liabilities |  | $ | 243,429 |  |  | $ | 139,548 |
Weighted-average remaining lease term |  |  |  |
Operating leases |  | 8.3 years |  | 9.1 years
Finance leases |  | 7.6 years |  | 9.9 years
Weighted-average discount rate |  |  |  |
Operating leases |  | 5.4 | % |  | 4.3 | %
Finance leases |  | 5.0 | % |  | 4.4 | %
Sale-Leaseback Transactions During the year ended December 31, 2020, the Company entered into sale-leaseback transactions involving eight total aircraft. The transactions qualified as sales, and generated $87.6 million of proceeds. As a result of the sales, the aircraft were removed from property and equipment in the Company's balance sheet, resulting in a $53.2 million loss on the sales. The loss is reflected within operating special charges on the statement of income since the Company would not likely have completed the transactions absent cash conservation efforts as a result of COVID-19. The leased aircraft were subsequently recorded within operating lease right-of-use assets, with the related lease liabilities recorded within current and noncurrent operating lease liabilities on the balance sheet. The proceeds from the sales of aircraft in these transactions are treated as cash inflows from investing activities on the statement of cash flows. Other Information The table below presents supplemental cash flow information related to leases during the year ended December 31.
| Year Ended December 31,
(in thousands) | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows for operating leases | $ | 13,102 |  |  | $ | 2,927 |
Operating cash flows for finance leases | $ | 5,335 |  |  | 5,264 |
Financing cash flows for finance leases | 15,908 |  |  | 7,336 |
Maturities of Lease Liabilities The table below indicates the future minimum payments of lease liabilities as of December 31, 2020.
(in thousands) | Operating Leases |  | Finance Leases
2021 | $ | 20,055 |  |  | $ | 15,871 |
2022 | 20,313 |  |  | 14,366 |
2023 | 20,160 |  |  | 26,045 |
2024 | 19,853 |  |  | 10,500 |
2025 | 17,723 |  |  | 10,500 |
Thereafter | 44,486 |  |  | 82,458 |
Total lease payments | 142,590 |  |  | 159,740 |
Less imputed interest | (25,988) |  |  | (32,913) |
Total lease obligations | 116,602 |  |  | 126,827 |
Less current obligations | (14,313) |  |  | (9,767) |
Long-term lease obligations | $ | 102,289 |  |  | $ | 117,060 |
Sale Leaseback Transactions | Sale-Leaseback Transactions During the year ended December 31, 2020, the Company entered into sale-leaseback transactions involving eight total aircraft. The transactions qualified as sales, and generated $87.6 million of proceeds. As a result of the sales, the aircraft were removed from property and equipment in the Company's balance sheet, resulting in a $53.2 million loss on the sales. The loss is reflected within operating special charges on the statement of income since the Company would not likely have completed the transactions absent cash conservation efforts as a result of COVID-19. The leased aircraft were subsequently recorded within operating lease right-of-use assets, with the related lease liabilities recorded within current and noncurrent operating lease liabilities on the balance sheet. The proceeds from the sales of aircraft in these transactions are treated as cash inflows from investing activities on the statement of cash flows.

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