Leases

9 Months Ended

Sep. 30, 2020

NOTE 3 — Leases

We lease certain real estate, vehicles, and equipment. Our leases have remaining lease terms of 1 to 15 years, some of which may include options to extend the leases, and some of which may include options to terminate the leases. The exercise of lease renewal options is at our sole discretion. The depreciable lives of assets and leasehold improvements are limited by the expected lease term unless there is a transfer of title or purchase option reasonably certain of exercise.

As of September 30, 2020, our Condensed consolidated balance sheets include $295.8 million of operating lease right-to-use assets, $43.5 million of short-term operating lease liabilities included in Other current liabilities, and $280.6 million of long-term operating lease liabilities.

The components of lease expense were as follows:



	Three months ended				Nine months ended
In thousands	September 30, 2020		September 29, 2019		September 30, 2020		September 29, 2019
Operating lease cost ^(a)	$	23,821	$	7,841	$	72,142	$	23,810
Short-term lease cost ^(b)	828		1,124		5,315		2,756
Net lease cost	$	24,649	$	8,965	$	77,457	$	26,566

^(a)

Includes variable lease costs of $2.9 million and $4.8 million, respectively, and sublease income of $0.9 million and $0.6 million, respectively, for the three months ended September 30, 2020 and September 29, 2019 and variable lease costs of $9.7 million and $5.6 million, respectively, and sublease income of $2.9 million and $1.7 million, respectively, for the nine months ended September 30, 2020 and September 29, 2019.


^(b)	Excluding expenses relating to leases with a lease term of one month or less.

Future minimum lease payments under non-cancellable leases as of September 30, 2020 are as follows:



In thousands	Year ended December 31, ^(a)
2020 (excluding the nine months ended September 30, 2020)	$	15,968
2021	82,679
2022	74,650
2023	62,115
2024	55,419
Thereafter	246,439
Total future minimum lease payments	537,270
Less: Imputed interest	(213,143		)
Total	$	324,127


^(a)	Operating lease payments exclude $12.7 million of legally binding minimum lease payments for leases signed but not yet commenced.

Other information related to leases were as follows:



	Nine months ended
In thousands, except lease term and discount rate	September 30, 2020			September 29, 2019
Supplemental information
Cash paid for amounts included in the measurement of operating lease liabilities	$	61,508		$	18,899
Right-of-use assets obtained in exchange for operating lease obligations	25,562			18,642

	As of
	September 30, 2020			September 29, 2019
Weighted-average remaining lease term (in years)	7.7			8.6
Weighted-average discount rate	12.66		%	10.54		%