Leases (Tables)

3 Months Ended

Mar. 31, 2019

Summary of Total Costs Associated with Leased Assets

Total costs associated with leased assets are as follows:

(In thousands)	Three months ended March 31, 2019
Operating lease cost ⁽¹⁾	$	6,717
Less: Sublease income		(802	)
Total operating lease costs		5,915
Finance lease costs:
Amortization of right-of-use assets ⁽²⁾		51
Interest on lease liability ⁽³⁾		3
Total finance lease costs	$	54

⁽¹⁾

Operating lease costs are recognized on a straight-line basis and are included in Selling, general and administrative expenses within the consolidated statement of operations.

⁽²⁾

Amortization of finance right-of-use assets is recognized on a straight-line basis and is included in in Selling, general and administrative expenses within the consolidated statement of operations.

⁽³⁾

Interest on finance lease liabilities is recorded as Interest expense within the consolidated statement of operations.

Supplemental Information for Operating and Finance Leases

Supplemental information for operating and finance leases is as follows:

(In thousands)	Three months ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7,287
Operating cash flows from finance leases	$	3
Financing cash flows from finance leases	$	37
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	124,811
Finance leases	$	263

Summary of Balance Sheet Location and Balances for Operating and Finance Leases

The balance sheet location and balances for operating and finance leases are as follows:

(In thousands, except lease term and discount rate)	March 31, 2019
Operating leases:
Right-of-use assets - operating leases	$	97,411
Current operating lease liabilities	$	24,154
Long-term operating lease liabilities	$	95,112

Finance leases:
Fixed assets, gross	$	524
Accumulated depreciation		286
Fixed assets, net	$	238

Current finance lease liabilities ⁽¹⁾	$	130
Long-term finance lease liabilities ⁽²⁾	$	97

Weighted average remaining lease term (in years)
Operating leases		6
Finance leases		2

Weighted average discount rate
Operating leases		4.6	%
Finance leases		5.0	%

⁽¹⁾

Current finance lease liabilities are included in Accrued expenses within the consolidated balance sheets.

⁽²⁾

Long-term finance lease liabilities are included in Other liabilities within the consolidated balance sheets.

Summary of Future Maturities of Lease and Non-Lease Components

The future maturities of our leasing arrangements including lease and non-lease components are shown in the below table. The maturities are calculated using foreign currency exchange rates in effect as of March 31, 2019.

	March 31, 2019
(in thousands)	Operating Leases			Finance Leases
Remainder of 2019	$	22,128		$	107
2020		24,839			85
2021		20,773			40
2022		19,205			6
2023		16,817			0
Thereafter		33,171			0
Total lease liabilities		136,933			238
Less: Amount representing interest		(17,667	)		(11	)
Less: Short-term lease liabilities		(24,154	)		(130	)
Total long-term lease liabilities	$	95,112		$	97