Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Components of Lease Expenses

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

	Years Ended December 31,
	2020		2019
Finance lease cost
Amortization of right-of-use assets (1)	$	120,169	$	82,893
Interest on lease liabilities	113,699		110,688
Total finance lease cost	233,868		193,581
Operating lease cost	217,299		219,021
Variable lease cost	13,588		1,763
Total lease cost	$	464,755	$	414,365

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

Other Information Related to Leases

Other information related to leases is as follows (in thousands, except years and percent):

	Years Ended December 31,
	2020			2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	109,558		$	107,000
Operating cash flows from operating leases	206,512			210,848
Financing cash flows from finance leases	115,288			126,486
Right-of-use assets obtained in exchange for lease obligations: (1)
Finance leases	$	487,592		$	387,808
Operating leases	108,797			145,025
	As of December 31,
	2020			2019
Weighted-average remaining lease term - finance leases (2)	14 years			15 years
Weighted-average remaining lease term - operating leases (2)	12 years			13 years
Weighted-average discount rate - finance leases	7		%	9		%
Weighted-average discount rate - operating leases	4		%	4		%
Finance lease ROU assets (3)	$	1,688,032		$	1,277,614

(1) Represents all non-cash changes in ROU assets.

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

(3) Finance lease ROU assets are recorded within property, plant and equipment, net on the consolidated balance sheets. As of December 31, 2020 and December 31, 2019, the Company recorded $604.1 million and $474.8 million of accumulated amortization of finance lease ROU assets, respectively.

Maturities of Lease Liabilities

Maturities of lease liabilities as of December 31, 2020 are as follows (in thousands):

Year ended December 31,	Operating Leases		Finance Leases		Total
2021	$	199,291	$	232,415	$	431,706
2022	205,411		221,058		426,469
2023	188,724		215,909		404,633
2024	176,626		213,186		389,812
2025	165,437		209,424		374,861
Thereafter	1,032,186		1,928,094		2,960,280
Total lease payments	1,967,675		3,020,086		4,987,761
Plus amount representing residual property value	—		17,331		17,331
Less imputed interest	(504,841)		(1,114,918)		(1,619,759)
Total	$	1,462,834	$	1,922,499	$	3,385,333

Maturity of Lease Liabilities

Maturities of lease liabilities as of December 31, 2020 are as follows (in thousands):

Year ended December 31,	Operating Leases		Finance Leases		Total
2021	$	199,291	$	232,415	$	431,706
2022	205,411		221,058		426,469
2023	188,724		215,909		404,633
2024	176,626		213,186		389,812
2025	165,437		209,424		374,861
Thereafter	1,032,186		1,928,094		2,960,280
Total lease payments	1,967,675		3,020,086		4,987,761
Plus amount representing residual property value	—		17,331		17,331
Less imputed interest	(504,841)		(1,114,918)		(1,619,759)
Total	$	1,462,834	$	1,922,499	$	3,385,333