Lease Accounting Lease Accounting (Tables)

6 Months Ended

Jun. 30, 2019

Other information related to leases is as follows:



	Six Months Ended June 30, 2019
	(In thousands)

Supplemental Cash Flow Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(13,423	)
Operating cash flows from finance leases	(1,413		)
Financing cash flows from finance leases	(5,838		)
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	8,117
Finance leases	20,215
Weighted-average remaining lease term (years)
Operating leases	6.4
Finance leases	4.8
Weighted-average discount rate
Operating leases	4.1		%
Finance leases	5.7		%

The components of lease expense were as follows:



	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
	(In thousands)
Components of lease expense:
Operating lease cost ^(a)	$	7,855		$	15,930
Financing lease cost:
Depreciation	3,009			5,265
Interest on lease liabilities	763			1,413
Sublease income ^(b)	(134		)	(256		)
Net lease expense	$	11,493		$	22,352

^(a)Includes short-term lease and variable lease costs, which are immaterial.

^(b) Sublease income relates to two warehouses in the U.S. and New Zealand.

Future minimum lease payments under non-cancellable leases as of June 30, 2019 were as follows:



Years ending December 31,	Operating Lease Payments			Finance Lease Payments			Total Lease Payments
	(In thousands)
2019 (excluding 6 months ended June 30, 2019)	$	11,185		$	8,293		$	19,478
2020	19,219			16,000			35,219
2021	13,351			14,723			28,074
2022	8,218			9,518			17,736
2023	7,982			6,485			14,467
Thereafter	19,706			9,183			28,889
Total future minimum lease payments	79,661			64,202			143,863
Less: Interest	(11,040		)	(8,859		)	(19,899		)
Total future minimum lease payments less interest	$	68,621		$	55,343		$	123,964

Reported as of June 30, 2019
Accounts payable and accrued expenses	$	193		$	51		$	244
Operating lease obligations	68,428			—			68,428
Finance lease obligations	—			55,292			55,292
Total lease obligations	$	68,621		$	55,343		$	123,964

Future minimum lease payments under non-cancellable leases as of June 30, 2019 were as follows:



Years ending December 31,	Operating Lease Payments			Finance Lease Payments			Total Lease Payments
	(In thousands)
2019 (excluding 6 months ended June 30, 2019)	$	11,185		$	8,293		$	19,478
2020	19,219			16,000			35,219
2021	13,351			14,723			28,074
2022	8,218			9,518			17,736
2023	7,982			6,485			14,467
Thereafter	19,706			9,183			28,889
Total future minimum lease payments	79,661			64,202			143,863
Less: Interest	(11,040		)	(8,859		)	(19,899		)
Total future minimum lease payments less interest	$	68,621		$	55,343		$	123,964

Reported as of June 30, 2019
Accounts payable and accrued expenses	$	193		$	51		$	244
Operating lease obligations	68,428			—			68,428
Finance lease obligations	—			55,292			55,292
Total lease obligations	$	68,621		$	55,343		$	123,964

Future minimum lease payments as of June 30, 2019 were as follows (in thousands):