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Leases

3 Months Ended

Mar. 31, 2020

NOTE Q— LEASES

We lease railroad cars, office space, mining property, mining/processing equipment and transportation and other equipment. The majority of our leases have remaining lease terms of one year to 20 years. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. We have lease agreements with lease and non-lease components, the latter of which are generally accounted for separately.

Supplemental balance sheet information related to leases was as follows:



Leases	Classification	March 31, 2020		December 31, 2019
Assets
Operating	Operating lease right-of-use assets	$	48,847	$	53,098
Total leased right-of-use assets		$	48,847	$	53,098
Liabilities
Current
Operating	Current portion of operating lease liabilities	$	50,402	$	53,587
Non-current
Operating	Operating lease liabilities	108,741		117,964
Total lease liabilities		$	159,143	$	171,551

Lease Term and Discount Rate
Weighted average remaining lease term:
Operating leases		4.4 years		4.5 years

Weighted average discount rate:
Operating leases		5.7%		5.7%

The components of lease expense were as follows:



Lease Costs	Classification	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Operating lease costs⁽¹⁾	Cost of sales	$	9,617	$	25,115
Operating lease costs⁽²⁾	Selling, general and administrative	542		1,169
		$	10,159	$	26,284



(1) Includes short-term operating lease costs of $2.8 million and $6.6 million for the three months ended March 31, 2020 and 2019, respectively.
(2) Includes short-term operating lease costs of $0.1 million and $0.2 million for the three months ended March 31, 2020 and 2019, respectively.

Supplemental cash flow information related to leases was as follows:



	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	17,365	$	2,584

Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	3,872	$	223,027

Maturities of lease liabilities as of March 31, 2020:



Maturities of lease liabilities	Operating leases
2020 (remaining nine months)	$	46,362
2021	45,227
2022	34,067
2023	22,411
2024	16,268
Thereafter	22,284
Total lease payments	$	186,619
Less: Interest	27,476
Total	$	159,143

Leases

NOTE Q— LEASES

Supplemental balance sheet information related to leases was as follows:



Leases	Classification	March 31, 2020		December 31, 2019
Assets
Operating	Operating lease right-of-use assets	$	48,847	$	53,098
Total leased right-of-use assets		$	48,847	$	53,098
Liabilities
Current
Operating	Current portion of operating lease liabilities	$	50,402	$	53,587
Non-current
Operating	Operating lease liabilities	108,741		117,964
Total lease liabilities		$	159,143	$	171,551

Lease Term and Discount Rate
Weighted average remaining lease term:
Operating leases		4.4 years		4.5 years

Weighted average discount rate:
Operating leases		5.7%		5.7%

The components of lease expense were as follows:



Lease Costs	Classification	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Operating lease costs⁽¹⁾	Cost of sales	$	9,617	$	25,115
Operating lease costs⁽²⁾	Selling, general and administrative	542		1,169
		$	10,159	$	26,284



(1) Includes short-term operating lease costs of $2.8 million and $6.6 million for the three months ended March 31, 2020 and 2019, respectively.
(2) Includes short-term operating lease costs of $0.1 million and $0.2 million for the three months ended March 31, 2020 and 2019, respectively.

Supplemental cash flow information related to leases was as follows:



	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	17,365	$	2,584

Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	3,872	$	223,027

Maturities of lease liabilities as of March 31, 2020:



Maturities of lease liabilities	Operating leases
2020 (remaining nine months)	$	46,362
2021	45,227
2022	34,067
2023	22,411
2024	16,268
Thereafter	22,284
Total lease payments	$	186,619
Less: Interest	27,476
Total	$	159,143