Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease assets and liabilities

Lease assets and liabilities are summarized as follows:

(in thousands)	Financial Statement Location	December 31, 2019
Operating leases
Operating lease right-of-use assets	Operating lease right-of-use assets	$	314,526
Operating lease liabilities	Operating lease liabilities	365,364
Finance leases
Property and equipment, at cost	Property, equipment, and capitalized software, net	37,589
Accumulated depreciation	Property, equipment, and capitalized software, net	(24,579		)
Finance lease liabilities	Accounts payable, accrued expenses, and other liabilities	13,371

Lease term, discount rate and components of lease expense

Weighted average remaining lease term and discount rate are as follows:

	December 31, 2019
Weighted average remaining lease term
Operating leases	7.50 years
Finance leases	1.45 years
Weighted average discount rate
Operating leases	5.70	%
Finance leases	3.52	%

The components of lease expense were as follows:

(in thousands)	Year Ended December 31, 2019
Operating lease cost:
Fixed	$	72,714
Variable	8,333
Impairment of ROU Asset	27,104
Total Operating lease cost	108,151
Finance lease cost:
Amortization of right-of-use assets	12,565
Interest on lease liabilities	661
Total Finance lease cost	13,226
Sublease income	12,590

Future minimum lease payments under operating leases

Future minimum lease payments under operating and finance leases with non-cancelable lease terms, as of December 31, 2019, are as follows:

(in thousands)	Operating Leases			Finance Leases
2020	$	76,118		$	10,929
2021	73,062			3,305
2022	66,850			565
2023	63,676			—
2024	32,144			—
2025 and thereafter	141,371			—
Total lease payments	453,221			14,799
Less imputed interest	(87,857		)	(1,428		)
Total lease liability	$	365,364		$	13,371

Future minimum lease payments under finance leases

Future minimum lease payments under operating and finance leases with non-cancelable lease terms, as of December 31, 2019, are as follows:

(in thousands)	Operating Leases			Finance Leases
2020	$	76,118		$	10,929
2021	73,062			3,305
2022	66,850			565
2023	63,676			—
2024	32,144			—
2025 and thereafter	141,371			—
Total lease payments	453,221			14,799
Less imputed interest	(87,857		)	(1,428		)
Total lease liability	$	365,364		$	13,371

Future minimum lease payments under operating leases

Future lease payments under non-cancelable leases and sublease receipts as of December 31, 2018 are as follows:

(thousands)	Capital		Operating		Subleases
2019	$	21,983	$	32,755	$	(8,979	)
2020	11,283		30,473		(9,324		)
2021	1,651		25,564		(8,844		)
2022	—		22,710		(8,552		)
2023	—		21,456		(8,695		)
Thereafter	—		113,779		(36,312		)
Total minimum lease payments	$	34,917	$	246,737	$	(80,706	)

Future minimum lease payments under capital leases

Future lease payments under non-cancelable leases and sublease receipts as of December 31, 2018 are as follows:

(thousands)	Capital		Operating		Subleases
2019	$	21,983	$	32,755	$	(8,979	)
2020	11,283		30,473		(9,324		)
2021	1,651		25,564		(8,844		)
2022	—		22,710		(8,552		)
2023	—		21,456		(8,695		)
Thereafter	—		113,779		(36,312		)
Total minimum lease payments	$	34,917	$	246,737	$	(80,706	)

Future minimum lease receivables under subleases

Future lease payments under non-cancelable leases and sublease receipts as of December 31, 2018 are as follows:

(thousands)	Capital		Operating		Subleases
2019	$	21,983	$	32,755	$	(8,979	)
2020	11,283		30,473		(9,324		)
2021	1,651		25,564		(8,844		)
2022	—		22,710		(8,552		)
2023	—		21,456		(8,695		)
Thereafter	—		113,779		(36,312		)
Total minimum lease payments	$	34,917	$	246,737	$	(80,706	)