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Leases (Tables)

12 Months Ended

Dec. 31, 2019

Balance sheet information related to operating leases is as follows:



	Classification	December 31, 2019		January 1, 2019 (Upon Adoption)
Assets		(In thousands)
Operating lease assets	Operating lease assets	$	76,548	$	85,068
Total operating lease assets		$	76,548	$	85,068

Liabilities
Current
Operating lease liabilities	Current portion of other long-term liabilities	$	20,345	$	20,602
Noncurrent
Operating lease liabilities	Noncurrent operating lease liabilities	69,531		74,746
Total operating lease liabilities		$	89,876	$	95,348

Operating lease costs during the twelve months ended December 31, 2019 were as follows:



		Year Ended
	Classification	December 31, 2019
		(In thousands)
Operating lease costs	Cost of ATM operating revenues ⁽¹⁾	$	27,027
Operating lease costs	Selling, general, and administrative expenses ⁽²⁾	5,682
Total operating lease cost		$	32,709

(1)

Includes the fixed and variable cost of facilities, vehicles, and equipment that are deemed direct operating lease costs. The variable lease cost associated with these leases was not significant. In addition, includes the fixed and variable cost associated with ATM placement agreements that are deemed to contain a lease. The variable cost associated with these placements was approximately $3.8 million in the twelve months ended December 31, 2019.


(2)	Includes the fixed and variable cost of facilities, vehicles, and equipment that are deemed general and administrative operating lease costs. The variable lease cost associated with these leases was not significant.

The following table presents the weighted-average remaining term and weighted-average discount rate associated with the Company's operating leases.



Lease Term and Discount Rate	December 31, 2019		January 1, 2019 (Upon Adoption)
Weighted-average remaining lease term (years)
Operating leases	6.9		7.1
Weighted-average discount rate
Operating leases	3.47	%	3.45	%



	Year Ended December 31, 2019
	(In thousands)
Additional lease information is summarized below:
Operating cash outflows resulting from payments of operating lease liabilities	$	19,708
New operating lease assets recognized during the period	$	14,161

Maturity of Recognized Operating Lease Liabilities

The following table presents the December 31, 2019 undiscounted cash flows associated with the Company's recognized operating lease liabilities in the next five years and thereafter.



Maturity of Recognized Operating Lease Liabilities	Operating Lease Payments⁽¹⁾
	(In thousands)
2020	$	22,316
2021	19,832
2022	12,096
2023	8,781
2024	6,800
After 2024	32,054
Total lease payments	101,879
Less: Interest ⁽²⁾	(12,003		)
Present value of operating lease liabilities ⁽³⁾	$	89,876


(1)	Operating lease payments reflect the Company's current fixed obligations under the operating lease agreements. The Company has identified no extensions that are reasonably certain of being exercised and there are no significant lease agreements that have been signed and not yet commenced.


(2)	Calculated using the estimated incremental borrowing rate for each lease.

(3)

Includes current operating lease liabilities of approximately $20.3 million and noncurrent operating lease liabilities of approximately $69.5 million.