Leases (Tables)

3 Months Ended

Mar. 31, 2019

Lease Position as of March 31, 2019

The table below presents the lease-related assets and liabilities recorded on the condensed consolidated balance sheet (in thousands):

	March 31, 2019
Assets
Real Estate	$	218,784
Select Express Drive Partner Program		85,821
Total operating lease right-of-use assets	$	304,605
Liabilities
Current
Real Estate	$	32,031
Select Express Drive Partner Program		41,645
Noncurrent
Real Estate		214,248
Select Express Drive Partner Program		49,507
Total operating lease liabilities	$	337,431
Weighted-average remaining lease term (years)
Real Estate		6.7
Select Express Drive Partner Program		2.0
Weighted-average discount rate⁽¹⁾
Real Estate		6.8	%
Select Express Drive Partner Program		6.5	%

(1)	Upon adoption of the new lease standard, discount rates used for existing leases were established at January 1, 2019.

Schedule of Lease Costs of Operating Leases

The table below presents certain information related to the lease costs for operating leases for the three months ended March 31, 2019 (in thousands):

	Real Estate		Select Express Drive Partner Program		Total Operating Leases
Operating lease cost	$	13,158	$	10,381	$	23,539
Short-term lease cost		1,733		—		1,733
Variable lease cost		1,363		1,637		3,000
Total lease cost	$	16,254	$	12,018	$	28,272

Schedule of Operating Lease Liabilities

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of March 31, 2019 (in thousands):

	Real Estate			Select Express Drive Partner Program			Total Operating Leases
2019, remainder	$	37,128		$	31,218		$	68,346
2020		52,173			45,478			97,651
2021		50,034			18,977			69,011
2022		45,980			2,489			48,469
2023		32,656			—			32,656
Thereafter		97,870			—			97,870
Total minimum lease payments		315,841			98,162			414,003
Less: amount of lease payments representing interest		(69,562	)		(7,010	)		(76,572	)
Present value of future minimum lease payments		246,279			91,152			337,431
Less: current obligations under leases		(32,031	)		(41,645	)		(73,676	)
Long-term lease obligations	$	214,248		$	49,507		$	263,755

Future Minimum Lease Payments

As of December 31, 2018, the future minimum lease payments required under noncancelable operating leases as defined under the previous accounting guidance of ASC Topic 840 were as follows (in thousands):

	Real Estate		Select Express Drive Partner Program		Total Operating Leases
2019	$	51,221	$	30,129	$	81,350
2020		53,380		34,597		87,977
2021		52,794		6,439		59,233
2022		48,813		—		48,813
2023 and Thereafter		133,670		—		133,670
Total minimum lease payments	$	339,878	$	71,165	$	411,043