XML 60 R41.htm IDEA: XBRL DOCUMENT v3.22.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Lease Balances
A summary of our ROU assets and lease liabilities is set forth below:
December 31,
20212020
in millions
ROU assets:
Finance leases (a)$426.0 $471.6 
Operating leases (b)1,327.8 1,440.3 
Total ROU assets
$1,753.8 $1,911.9 
Lease liabilities:
Finance leases (c)$484.0 $549.5 
Operating leases (d)1,364.8 1,432.0 
Total lease liabilities$1,848.8 $1,981.5 
_______________

(a)Our finance lease ROU assets are included in property and equipment, net, on our consolidated balance sheets. At December 31, 2021, the weighted average remaining lease term for finance leases was 22.5 years and the weighted average discount rate was 6.0%. During 2021, 2020 and 2019, we recorded non-cash additions to our finance lease ROU assets (including amounts related to the U.K. JV Entities through the closing of the U.K. JV Transaction) of $42.6 million, $48.7 million and $66.4 million, respectively.

(b)Our operating lease ROU assets are included in other assets, net, on our consolidated balance sheets. At December 31, 2021, the weighted average remaining lease term for operating leases was 12.4 years and the weighted average discount rate was 5.7%. During 2021, 2020 and 2019, we recorded non-cash additions to our operating lease ROU assets (including amounts related to the U.K. JV Entities through the closing of the U.K. JV Transaction) of $169.8 million, $123.0 million and $83.2 million, respectively.

(c)The current and long-term portions of our finance lease liabilities are included within current portion of debt and finance lease obligations and long-term debt and finance lease obligations, respectively, on our consolidated balance sheets.

(d)The current portion of our operating lease liabilities are included within other accrued and current liabilities on our consolidated balance sheets.
Lease Expense and Cash Outflows from Operating and Finance Leases
A summary of our aggregate lease expense is set forth below: 
Year ended December 31,
202120202019
in millions
Finance lease expense:
Depreciation and amortization$74.8 $74.8 $83.5 
Interest expense30.8 32.9 33.3 
Total finance lease expense
105.6 107.7 116.8 
Operating lease expense (a)249.7 146.2 130.5 
Short-term lease expense (a)5.0 4.6 6.0 
Variable lease expense (b)1.6 1.4 1.2 
Total lease expense
$361.9 $259.9 $254.5 
_______________

(a)Our operating lease expense and short-term lease expense are included in programming and other direct costs of services, other operating expenses, SG&A expenses and impairment, restructuring and other operating items, net, in our consolidated statements of operations.

(b)Variable lease expense represents payments made to a lessor during the lease term that vary because of a change in circumstance that occurred after the lease commencement date. Variable lease payments are expensed as incurred and are included in other operating expenses in our consolidated statements of operations.
A summary of our cash outflows from operating and finance leases is set forth below: 
 Year ended December 31,
202120202019
in millions
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$223.0 $121.5 $130.3 
Operating cash outflows from finance leases (interest component)30.8 32.9 33.3 
Financing cash outflows from finance leases (principal component)75.7 86.0 72.9 
Total cash outflows from operating and finance leases$329.5 $240.4 $236.5 
Maturities of Operating Lease Liabilities
Maturities of our operating and finance lease liabilities as of December 31, 2021 are presented below. Amounts represent U.S. dollar equivalents based on December 31, 2021 exchange rates:
Operating leasesFinance
leases
 in millions
Year ending December 31:
2022$208.3 $92.9 
2023190.7 103.6 
2024174.9 62.2 
2025161.6 58.8 
2026148.6 54.7 
Thereafter1,078.4 251.3 
Total payments
1,962.5 623.5 
Less: present value discount
(597.7)(139.5)
Present value of lease payments$1,364.8 $484.0 
Current portion$138.7 $67.3 
Noncurrent portion$1,226.1 $416.7 
Maturities of Finance Lease Liabilities
Maturities of our operating and finance lease liabilities as of December 31, 2021 are presented below. Amounts represent U.S. dollar equivalents based on December 31, 2021 exchange rates:
Operating leasesFinance
leases
 in millions
Year ending December 31:
2022$208.3 $92.9 
2023190.7 103.6 
2024174.9 62.2 
2025161.6 58.8 
2026148.6 54.7 
Thereafter1,078.4 251.3 
Total payments
1,962.5 623.5 
Less: present value discount
(597.7)(139.5)
Present value of lease payments$1,364.8 $484.0 
Current portion$138.7 $67.3 
Noncurrent portion$1,226.1 $416.7