Right-of-Use Asset and Lease Liabilities (Tables)

3 Months Ended

Mar. 31, 2020

The components of the lease expense recorded in the accompanying condensed consolidated statements of operations were as follows:


	Three Months Ended March 31,
	2020		2019

	(In thousands)
Operating lease cost	$	10,424	$	7,173
Finance lease cost:
Amortization of assets	1,904		1,163
Interest on lease liabilities	198		148
Short-term lease cost	1,412		1,435
Variable lease cost	1,296		487
Total net lease cost	$	15,234	$	10,406

Supplemental cash flow and other information related to leases was as follows:


	Three Months Ended March 31,
	2020			2019

Cash paid for amounts included in the measurement of lease liabilities:	(In thousands)
Operating cash flows from operating leases	$	9,953		$	3,994
Operating cash flows from finance leases (interest)	$	198		$	148
Financing cash flows from finance leases	$	1,881		$	961

Weighted average remaining lease term (in years):
Operating leases	5.8			7.1
Finance leases	2.9			3.3

Weighted average discount rate:
Operating leases	5.7		%	5.8		%
Finance leases	5.3		%	5.2		%

Assets and Liabilities, Lessee

Supplemental balance sheet information related to leases was as follows:


		As of		As of
		March 31,		December 31,
Leases	Classification	2020		2019

Assets:		(In thousands)
Operating lease assets	Operating right-of-use asset, net of accumulated amortization ⁽¹⁾	$	159,439	$	156,741
Finance lease assets	Property and equipment, net of accumulated depreciation ⁽²⁾	12,866		14,770
Total leased assets		$	172,305	$	171,511

Liabilities:
Current
Operating	Operating lease liability, current	$	29,949	$	27,156
Finance	Financing lease liability, current	6,539		6,924
Noncurrent
Operating	Operating lease liability, noncurrent	140,120		139,200
Finance	Finance lease liability, noncurrent	7,250		8,746
Total lease liabilities		$	183,858	$	182,026

____________________

⁽¹⁾ Operating lease assets are recorded net of accumulated amortization of $31.2 million and $23.2 million as of March 31, 2020 and December 31, 2019, respectively.

⁽²⁾ Finance lease assets are recorded net of accumulated depreciation of $7.9 million and $6.0 million as of March 31, 2020 and December 31, 2019, respectively.

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities were as follows:


	As of March 31, 2020
	Operating Leases		Finance Leases

Year ended December 31,	(In thousands)
2020 (remaining nine months)	$	29,148	$	5,507
2021	38,190		4,659
2022	37,145		2,333
2023	29,378		1,581
2024	25,549		315
Thereafter	43,126		581
Total lease payments	202,536		14,976
Less: imputed interest	(32,467)		(1,187)
Total lease obligations	170,069		13,789
Less: current obligations	(29,949)		(6,539)
Long-term lease obligations	$	140,120	$	7,250

Finance Lease, Liability, Maturity

Maturities of lease liabilities were as follows:


	As of March 31, 2020
	Operating Leases		Finance Leases

Year ended December 31,	(In thousands)
2020 (remaining nine months)	$	29,148	$	5,507
2021	38,190		4,659
2022	37,145		2,333
2023	29,378		1,581
2024	25,549		315
Thereafter	43,126		581
Total lease payments	202,536		14,976
Less: imputed interest	(32,467)		(1,187)
Total lease obligations	170,069		13,789
Less: current obligations	(29,949)		(6,539)
Long-term lease obligations	$	140,120	$	7,250