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LEASES | 6 Months Ended
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Jun. 30, 2021
Leases [Abstract] |
OPERATING LEASES | LEASES The Company's operating leases are comprised primarily of facility leases and finance leases are comprised primarily of vehicle and equipment leases. Balance sheet information related to our leases is presented below:
| Balance Sheet location |  | June 30, 2021 |  | December 31, 2020
Operating leases: |  |  |  |  |
Right-of-use lease assets | Right-of-use operating lease assets |  | $ | 230,650 |  |  | $ | 241,342 |
Right-of-use lease liability, current | Other current liabilities |  | 37,763 |  |  | 38,296 |
Right-of-use lease liability, long-term | Right-of-use operating lease liability |  | 247,408 |  |  | 257,424 |
Finance leases: |  |  |  |  |
Right-of-use lease assets | Property, plant and equipment |  | 237,502 |  |  | 170,155 |
Right-of-use lease liability, current | Current portion of long-term debt |  | 89,694 |  |  | 63,454 |
Right-of-use lease liability, long-term | Long-term debt |  | 110,098 |  |  | 96,183 |
The following provides details of the Company's lease expense:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Operating lease expense, net | $ | 14,239 |  |  | $ | 14,849 |  |  | $ | 28,546 |  |  | $ | 29,853 |
Finance lease expense: |  |  |  |  |  |  |
Amortization of assets | 12,738 |  |  | 6,960 |  | 24,312 |  |  | 11,420
Interest on lease liabilities | 2,121 |  |  | 1,477 |  | 4,222 |  |  | 2,504
Total finance lease expense | 14,859 |  |  | 8,437 |  | 28,534 |  |  | 13,924
| $ | 29,098 |  |  | $ | 23,286 |  |  | $ | 57,080 |  |  | $ | 43,777 |
Other information related to leases is presented below:
| As of June 30,
| 2021 |  | 2020
Right-of-use assets acquired in exchange for operating lease obligations | $ | 11,215 |  |  | $ | 15,430 |
Cash Paid For Amounts Included In Measurement of Liabilities: |  |  |
Operating cash flows related to finance leases | 4,222 |  |  | 2,504 |
Operating cash flows related to operating leases | 29,705 |  |  | 32,126 |
Weighted Average Remaining Lease Term: |  |  |
Operating leases | 8.7 years |  | 9.3 years
Finance leases | 2.3 years |  | 2.9 years
Weighted Average Discount Rate: |  |  |
Operating leases | 5.59 | % |  | 5.86 | %
Finance leases | 5.04 | % |  | 5.66 | %
The minimum future annual payments under non-cancellable leases during the next five years and thereafter, at rates now in force, are as follows:
| Finance leases |  | Operating leases
2021 (excluding the six months ended June 30, 2021) | $ | 48,525 |  |  | $ | 16,775 |
2022 | 92,877 |  |  | 54,176 |
2023 | 57,768 |  |  | 46,485 |
2024 | 11,607 |  |  | 42,894 |
2025 | 291 |  |  | 34,961 |
Thereafter | — |  |  | 171,230 |
Total future minimum lease payments, undiscounted | 211,068 |  |  | 366,521 |
Less: Imputed interest | (11,276) |  |  | (81,350) |
Present value of future minimum lease payments | $ | 199,792 |  |  | $ | 285,171 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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