Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Components of lease expenses

The components of lease expenses are as follows (in thousands):

	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Finance lease cost
Amortization of right-of-use assets (1)	$	19,811	$	39,897
Interest on lease liabilities	27,111		54,634
Total finance lease cost	46,922		94,531
Operating lease cost	54,920		106,559
Total lease cost	$	101,842	$	201,090

⁽¹⁾ Amortization of right-of-use assets is included with depreciation expense, and is recorded within cost of revenues, sales and marketing and general and administrative expenses in the condensed consolidated statements of operations.

Other information related to leases

Other information related to leases is as follows (in thousands):

	Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	52,701
Operating cash flows from operating leases	101,875
Financing cash flows from finance leases	43,112
Right-of-use assets obtained in exchange for lease obligations: (1)
Finance leases	$	2,597
Operating leases	77,905
	As of June 30, 2019
Weighted-average remaining lease term - finance leases (2)	14 years
Weighted-average remaining lease term - operating leases (2)	13 years
Weighted-average discount rate - finance leases	10		%
Weighted-average discount rate - operating leases	4		%

⁽¹⁾ Represents all non-cash changes in ROU assets, including the impact of reclassifying finance lease and operating lease ROU assets of $36.9 million and $9.6 million, respectively, to assets held for sale. Refer to Note 5.

⁽²⁾ Includes lease renewal options that are reasonably certain to be exercised.

Maturities of lease liabilities

Maturities of lease liabilities under Topic 842 as of June 30, 2019 are as follows (in thousands):

	Operating Leases			Finance Leases			Total
2019 (6 months remaining)	$	93,232		$	76,153		$	169,385
2020	198,629			157,700			356,329
2021	185,623			156,656			342,279
2022	178,060			157,284			335,344
2023	163,424			158,137			321,561
Thereafter	1,184,006			1,563,362			2,747,368
Total lease payments	2,002,974			2,269,292			4,272,266
Plus amount representing residual property value	—			19,027			19,027
Less imputed interest	(537,714		)	(1,086,549		)	(1,624,263		)
Total	$	1,465,260		$	1,201,770		$	2,667,030

For the year ended December 31, 2018, the Company's operating lease, capital lease and other financing obligations under ASC Topic 840 are summarized as follows (in thousands):

	Capital Lease Obligations			Other Financing Obligations (1)			Total Capital Lease and Other Financing Obligations			Operating Leases
2019	$	103,859		$	80,292		$	184,151		$	187,280
2020	97,326			73,266			170,592			179,515
2021	95,414			73,672			169,086			166,159
2022	94,954			73,856			168,810			158,115
2023	95,463			69,423			164,886			147,677
Thereafter	878,755			722,496			1,601,251			1,130,494
Total minimum lease payments	1,365,771			1,093,005			2,458,776			1,969,240
Plus amount representing residual property value	—			389,643			389,643			—
Less amount representing interest	(602,026		)	(727,472		)	(1,329,498		)	—
Present value of net minimum lease payments	763,745			755,176			1,518,921			1,969,240
Less current portion	(43,498		)	(34,346		)	(77,844		)	—
Total	$	720,247		$	720,830		$	1,441,077		$	1,969,240

⁽¹⁾ Other financing obligations are primarily related to build-to-suit arrangements. 

Maturities of lease liabilities

Maturities of lease liabilities under Topic 842 as of June 30, 2019 are as follows (in thousands):

	Operating Leases			Finance Leases			Total
2019 (6 months remaining)	$	93,232		$	76,153		$	169,385
2020	198,629			157,700			356,329
2021	185,623			156,656			342,279
2022	178,060			157,284			335,344
2023	163,424			158,137			321,561
Thereafter	1,184,006			1,563,362			2,747,368
Total lease payments	2,002,974			2,269,292			4,272,266
Plus amount representing residual property value	—			19,027			19,027
Less imputed interest	(537,714		)	(1,086,549		)	(1,624,263		)
Total	$	1,465,260		$	1,201,770		$	2,667,030

For the year ended December 31, 2018, the Company's operating lease, capital lease and other financing obligations under ASC Topic 840 are summarized as follows (in thousands):

	Capital Lease Obligations			Other Financing Obligations (1)			Total Capital Lease and Other Financing Obligations			Operating Leases
2019	$	103,859		$	80,292		$	184,151		$	187,280
2020	97,326			73,266			170,592			179,515
2021	95,414			73,672			169,086			166,159
2022	94,954			73,856			168,810			158,115
2023	95,463			69,423			164,886			147,677
Thereafter	878,755			722,496			1,601,251			1,130,494
Total minimum lease payments	1,365,771			1,093,005			2,458,776			1,969,240
Plus amount representing residual property value	—			389,643			389,643			—
Less amount representing interest	(602,026		)	(727,472		)	(1,329,498		)	—
Present value of net minimum lease payments	763,745			755,176			1,518,921			1,969,240
Less current portion	(43,498		)	(34,346		)	(77,844		)	—
Total	$	720,247		$	720,830		$	1,441,077		$	1,969,240

⁽¹⁾ Other financing obligations are primarily related to build-to-suit arrangements.