Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Lease Cost

Balance sheet information related to operating leases is as follows:

	Classification	December 31, 2020		December 31, 2019
Assets		(In thousands)
Operating lease assets	Operating lease assets	$	60,368	$	76,548
Total operating lease assets		$	60,368	$	76,548
Liabilities
Current
Operating lease liabilities	Current portion of other long-term liabilities	$	18,683	$	20,345
Noncurrent
Noncurrent operating lease liabilities	Operating lease liabilities	56,683		69,531
Total operating lease liabilities		$	75,366	$	89,876

Operating lease costs during the years ended December 31, 2020 and 2019 were as follows:

		Year Ended		Year Ended
	Classification	December 31, 2020		December 31, 2019
		(In thousands)
Operating lease costs	Cost of ATM operating revenues (1)	$	19,809	$	27,027
Operating lease costs	Selling, general, and administrative expenses (2)	4,836		5,682
Total operating lease cost		$	24,645	$	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 were approximately $2.4 million and $3.8 million in the twelve months ended December 31, 2020 and 2019, respectively.

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

The decrease in operating lease costs in the year ended December 31, 2020 in comparison to the year ended December 31, 2019 is attributable to the decrease in the number of through-the-wall ATM placement agreements that include fixed payments, the decrease in variable fees associated with these placements due to transaction volume, and in certain cases the decrease in fixed fees paid while the ATMs were not in operation due to the Pandemic. In addition, operating lease costs were lower due to the exit of certain facilities and the timing of these exits in 2019 and 2020.

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, 2020		December 31, 2019
Weighted-average remaining lease term (years)
Operating leases	7.2		6.9
Weighted-average discount rate
Operating leases	3.68	%	3.47	%

Additional lease information is summarized below:

	Year Ended December 31, 2020		Year Ended December 31, 2019
	(In thousands)
Operating cash outflows resulting from payments of operating lease liabilities	$	19,315	$	19,708
New operating lease assets recognized during the period	$	10,400	$	14,161

Maturity of Recognized Operating Lease Liabilities

The following table presents the undiscounted cash flows associated with the Company's recognized operating lease liabilities in the next five years and thereafter as of December 31, 2020.

Maturity of Recognized Operating Lease Liabilities	Operating  Lease Payments(1)
	(In thousands)
2021	$	21,139
2022	13,039
2023	10,077
2024	8,506
2025	6,389
After 2025	26,591
Total lease payments	85,741
Less: Interest (2)	(10,375)
Present value of operating lease liabilities (3)	$	75,366

(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 $18.7 million and noncurrent operating lease liabilities of approximately $56.7 million.