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v3.20.4

Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases | Note 6 — Leases We charter vessels and lease facilities and equipment under non-cancelable contracts that expire on various dates through 2031. We also sublease some of our facilities under non-cancelable sublease agreements. As of December 31, 2020, the minimum sublease income to be received in the future totaled $2.1 million. The following table details the components of our lease cost in 2020 and 2019 (in thousands):
| Year Ended December 31,
| 2020 |  | 2019
Operating lease cost | $ | 64,742 |  |  | $ | 70,860 |
Variable lease cost | 15,021 |  |  | 13,780 |
Short-term lease cost | 37,524 |  |  | 20,384 |
Sublease income | (1,286) |  |  | (1,391) |
Net lease cost | $ | 116,001 |  |  | $ | 103,633 |
For the year ended December 31, 2018, total rental expense was approximately $147.8 million and total sublease rental income was $1.4 million. Maturities of our operating lease liabilities as of December 31, 2020 are as follows (in thousands):
| Vessels |  | Facilities and Equipment |  | Total
Less than one year | $ | 54,621 |  |  | $ | 6,028 |  |  | $ | 60,649 |
One to two years | 52,106 |  |  | 5,435 |  |  | 57,541 |
Two to three years | 34,580 |  |  | 4,649 |  |  | 39,229 |
Three to four years | 2,470 |  |  | 4,374 |  |  | 6,844 |
Four to five years | — |  |  | 2,340 |  |  | 2,340 |
Over five years | — |  |  | 4,054 |  |  | 4,054 |
Total lease payments | $ | 143,777 |  |  | $ | 26,880 |  |  | $ | 170,657 |
Less: imputed interest | (13,352) |  |  | (4,697) |  |  | (18,049) |
Total operating lease liabilities | $ | 130,425 |  |  | $ | 22,183 |  |  | $ | 152,608 |
Current operating lease liabilities | $ | 46,748 |  |  | $ | 4,851 |  |  | $ | 51,599 |
Non-current operating lease liabilities | 83,677 |  |  | 17,332 |  |  | 101,009 |
Total operating lease liabilities | $ | 130,425 |  |  | $ | 22,183 |  |  | $ | 152,608 |
Maturities of our operating lease liabilities as of December 31, 2019 are as follows (in thousands):
| Vessels |  | Facilities and Equipment |  | Total
Less than one year | $ | 60,210 |  |  | $ | 6,610 |  |  | $ | 66,820 |
One to two years | 54,564 |  |  | 5,888 |  |  | 60,452 |
Two to three years | 52,106 |  |  | 5,257 |  |  | 57,363 |
Three to four years | 34,580 |  |  | 4,622 |  |  | 39,202 |
Four to five years | 2,470 |  |  | 4,349 |  |  | 6,819 |
Over five years | — |  |  | 6,251 |  |  | 6,251 |
Total lease payments | $ | 203,930 |  |  | $ | 32,977 |  |  | $ | 236,907 |
Less: imputed interest | (24,846) |  |  | (6,449) |  |  | (31,295) |
Total operating lease liabilities | $ | 179,084 |  |  | $ | 26,528 |  |  | $ | 205,612 |
Current operating lease liabilities | $ | 48,716 |  |  | $ | 5,069 |  |  | $ | 53,785 |
Non-current operating lease liabilities | 130,368 |  |  | 21,459 |  |  | 151,827 |
Total operating lease liabilities | $ | 179,084 |  |  | $ | 26,528 |  |  | $ | 205,612 |
The following table presents the weighted average remaining lease term and discount rate:
| December 31,
| 2020 |  | 2019
Weighted average remaining lease term | 3.1 years |  | 4.0 years
Weighted average discount rate | 7.53 | % |  | 7.54 | %
The following table presents other information related to our operating leases (in thousands):
| Year Ended December 31,
| 2020 |  | 2019
Cash paid for operating lease liabilities | $ | 66,026 |  |  | $ | 71,698 |
ROU assets obtained in exchange for new operating lease obligations | 516 |  |  | 1,168 |

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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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