Leases

3 Months Ended

Mar. 31, 2022

NOTE 5 – LEASES

The Company has operating leases for facilities and equipment which have remaining terms ranging from 1 to 17 years. The leases may include options to extend the lease periods for up to 5 years at rates approximating market rates and/or options to terminate the leases within 1 year. The leases may include a residual value guarantee or a responsibility to return the property to its original state of use. A limited number of leases contain provisions that provide for rental increases based on consumer price indices. The change in rent expense resulting from changes in these indices are included within variable rent.

The Company’s lease cost is recognized on a straight-line basis over the lease term. Lease cost consists of the following:

	Three Months Ended
	March 31, 2022			March 31, 2021
Operating lease cost	$	9,502		$	8,793
Short-term lease cost		133			131
Variable lease cost		20			10
Sublease income		(10	)		—
Total lease cost	$	9,645		$	8,934

Future minimum lease payments under non-cancellable leases as of March 31, 2022 were as follows:

March 31, 2023	$	33,057
March 31, 2024		20,984
March 31, 2025		23,628
March 31, 2026		21,643
March 31, 2027		20,369
Thereafter		152,425
Total future minimum lease payments		272,106
Less: Interest		(51,719	)
Total operating lease liabilities	$	220,387

Operating lease liabilities - current	$	30,530
Operating lease liabilities - non-current		189,857
Total operating lease liabilities	$	220,387

Other information related to operating leases is as follows:

	March 31, 2022			March 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	10,110		$	4,130
Right-of-use assets obtained in exchange for operating lease liabilities	$	2,952		$	142
Weighted-average remaining lease term - operating leases		11.5			5.8
Weighted-average discount rate - operating leases		3.2	%		3.4	%