Lease Accounting (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lease, Cost

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

	Years Ended December 31,
	2021		2020		2019
Components of lease expense:
Operating lease cost (a)	$	59,405	$	23,931	$	29,205
Financing lease cost:
Depreciation	29,743		16,504		11,252
Interest on lease liabilities	7,135		2,969		2,941
Sublease income (b)	(3,785)		(551)		(499)
Net lease expense	$	92,498	$	42,853	$	42,899

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

(b) Sublease income relates to five warehouses in the U.S., one in Australia, and one in New Zealand, and sites in five countries in Europe.

Other information related to leases is as follows:

	Years Ended December 31,
	2021			2020			2019
Supplemental Cash Flow Information (in thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	(52,226)		$	(20,070)		$	(24,992)
Operating cash flows from finance leases	$	(10,342)		$	(2,969)		$	(2,941)
Financing cash flows from finance leases	$	(32,441)		$	(19,970)		$	(13,339)
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	50,886		$	44,919		$	12,492
Finance leases	$	24,567		$	38,858		$	30,416
Weighted-average remaining lease term (years)
Operating leases	11.7			10.5			6.1
Finance leases	3.6			4.8			4.4
Weighted-average discount rate
Operating leases	2.7		%	2.9		%	4.1		%
Finance leases	3.4		%	3.6		%	5.5		%

Finance Lease, Liability, Maturity

Future minimum lease payments under non-cancellable leases as of December 31, 2021 were as follows (in thousands):

Years ending December 31,	Operating Lease Payments		Finance Lease Payments		Total Lease Payments
2022	$	40,623	$	36,348	$	76,971
2023	37,693		29,356		67,049
2024	34,728		20,119		54,847
2025	31,629		8,301		39,930
2026	27,423		4,088		31,511
Thereafter	183,400		5,339		188,739
Total future minimum lease payments	355,496		103,551		459,047
Less: Interest	(53,731)		(5,918)		(59,649)
Total future minimum lease payments less interest	$	301,765	$	97,633	$	399,398
Reported as of December 31, 2021
Accounts payable and accrued expenses	$	116	$	646	$	762
Operating lease obligations	301,649		—		301,649
Finance lease obligations	—		96,987		96,987
Total lease obligations	$	301,765	$	97,633	$	399,398

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments under non-cancellable leases as of December 31, 2021 were as follows (in thousands):

Years ending December 31,	Operating Lease Payments		Finance Lease Payments		Total Lease Payments
2022	$	40,623	$	36,348	$	76,971
2023	37,693		29,356		67,049
2024	34,728		20,119		54,847
2025	31,629		8,301		39,930
2026	27,423		4,088		31,511
Thereafter	183,400		5,339		188,739
Total future minimum lease payments	355,496		103,551		459,047
Less: Interest	(53,731)		(5,918)		(59,649)
Total future minimum lease payments less interest	$	301,765	$	97,633	$	399,398
Reported as of December 31, 2021
Accounts payable and accrued expenses	$	116	$	646	$	762
Operating lease obligations	301,649		—		301,649
Finance lease obligations	—		96,987		96,987
Total lease obligations	$	301,765	$	97,633	$	399,398

Lessor, Operating Lease, Payments to be Received, Maturity

Future minimum lease payments due from our customers on leases as of December 31, 2021 were as follows (in thousands):

	Operating Leases
Year ending December 31,
2022	$	35,425
2023	28,803
2024	22,262
2025	14,329
2026	10,903
Thereafter	44,379
Total	$	156,101