Lease Accounting (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease, Cost

The components of lease expense were as follows (in thousands):

	Year Ended December 31, 2019
Components of lease expense:
Operating lease cost (a)	$	29,205
Financing lease cost:
Depreciation	11,252
Interest on lease liabilities	2,941
Sublease income (b)	(499		)
Net lease expense	$	42,899

^(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.

For the years ended December 31, 2018 and 2017, rent expense of $36.7 million and $42.3 million, respectively, was recorded pursuant to ASC 840, Leases.

Other information related to leases is as follows:

	Year Ended December 31, 2019
Supplemental Cash Flow Information (in thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(24,992	)
Operating cash flows from finance leases	$	(2,941	)
Financing cash flows from finance leases	$	(13,339	)
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	12,492
Finance leases	$	30,416
Weighted-average remaining lease term (years)
Operating leases	6.1
Finance leases	4.4
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 December 31, 2019 were as follows (in thousands):

Years ending December 31,	Operating Lease Payments			Finance Lease Payments			Total Lease Payments
2020	$	23,399		$	18,534		$	41,933
2021	12,306			17,217			29,523
2022	9,622			11,987			21,609
2023	8,039			8,538			16,577
2024	4,596			4,827			9,423
Thereafter	14,296			5,386			19,682
Total future minimum lease payments	72,258			66,489			138,747
Less: Interest	(9,737		)	(8,249		)	(17,986		)
Total future minimum lease payments less interest	$	62,521		$	58,240		$	120,761
Reported as of December 31, 2019
Accounts payable and accrued expenses	$	179		$	70		$	249
Operating lease obligations	62,342			—			62,342
Finance lease obligations	—			58,170			58,170
Total lease obligations	$	62,521		$	58,240		$	120,761

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments under non-cancellable leases as of December 31, 2019 were as follows (in thousands):

Years ending December 31,	Operating Lease Payments			Finance Lease Payments			Total Lease Payments
2020	$	23,399		$	18,534		$	41,933
2021	12,306			17,217			29,523
2022	9,622			11,987			21,609
2023	8,039			8,538			16,577
2024	4,596			4,827			9,423
Thereafter	14,296			5,386			19,682
Total future minimum lease payments	72,258			66,489			138,747
Less: Interest	(9,737		)	(8,249		)	(17,986		)
Total future minimum lease payments less interest	$	62,521		$	58,240		$	120,761
Reported as of December 31, 2019
Accounts payable and accrued expenses	$	179		$	70		$	249
Operating lease obligations	62,342			—			62,342
Finance lease obligations	—			58,170			58,170
Total lease obligations	$	62,521		$	58,240		$	120,761

Lessor, Operating Lease, Payments to be Received, Maturity

Future minimum lease payments due from our customers on leases as of December 31, 2019 were as follows (in thousands):

	Operating Leases
Year ending December 31,
2020	$	16,736
2021	13,223
2022	11,244
2023	9,782
2024	7,274
Thereafter	18,920
Total	$	77,179