Lease Accounting Lease Accounting (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Lease, Cost

The components of lease expense were as follows:

	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
	(In thousands)
Components of lease expense:
Operating lease cost (a)	$	6,477		$	22,407
Financing lease cost:
Depreciation	2,815			8,080
Interest on lease liabilities	752			2,165
Sublease income (b)	(121		)	(377		)
Net lease expense	$	9,923		$	32,275

^(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.

Other information related to leases is as follows:

	Nine Months Ended September 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	$	(19,280	)
Operating cash flows from finance leases	(2,165		)
Financing cash flows from finance leases	(9,374		)
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	8,308
Finance leases	26,122
Weighted-average remaining lease term (years)
Operating leases	6.5
Finance leases	4.6
Weighted-average discount rate
Operating leases	4.1		%
Finance leases	5.5		%

Finance Lease, Liability, Maturity

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

Years ending December 31,	Operating Lease Payments			Finance Lease Payments			Total Lease Payments
	(In thousands)
2019 (excluding 9 months ended September 30, 2019)	$	5,399		$	4,516		$	9,915
2020	18,819			17,337			36,156
2021	11,969			16,048			28,017
2022	9,319			10,825			20,144
2023	7,825			7,503			15,328
Thereafter	18,949			9,588			28,537
Total future minimum lease payments	72,280			65,817			138,097
Less: Interest	(10,253		)	(8,489		)	(18,742		)
Total future minimum lease payments less interest	$	62,027		$	57,328		$	119,355
Reported as of September 30, 2019
Accounts payable and accrued expenses	$	178		$	70		$	248
Operating lease obligations	61,849			—			61,849
Finance lease obligations	—			57,258			57,258
Total lease obligations	$	62,027		$	57,328		$	119,355

Lessee, Operating Lease, Liability, Maturity

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

Years ending December 31,	Operating Lease Payments			Finance Lease Payments			Total Lease Payments
	(In thousands)
2019 (excluding 9 months ended September 30, 2019)	$	5,399		$	4,516		$	9,915
2020	18,819			17,337			36,156
2021	11,969			16,048			28,017
2022	9,319			10,825			20,144
2023	7,825			7,503			15,328
Thereafter	18,949			9,588			28,537
Total future minimum lease payments	72,280			65,817			138,097
Less: Interest	(10,253		)	(8,489		)	(18,742		)
Total future minimum lease payments less interest	$	62,027		$	57,328		$	119,355
Reported as of September 30, 2019
Accounts payable and accrued expenses	$	178		$	70		$	248
Operating lease obligations	61,849			—			61,849
Finance lease obligations	—			57,258			57,258
Total lease obligations	$	62,027		$	57,328		$	119,355

Lessor, Operating Lease, Payments to be Received, Maturity

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

	Operating Leases
Year ending December 31,
2019 (excluding 9 months ended September 30, 2019)	$	4,748
2020	15,965
2021	12,811
2022	11,212
2023	9,551
Thereafter	25,422
Total	$	79,709