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Leases (Tables)
6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Summary of Lease Costs

The components of lease costs for the three and six months ended June 30, 2021 and June 30, 2020 are as follows (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2021

 

 

June 30, 2020

 

 

June 30, 2021

 

 

June 30, 2020

 

Operating lease cost

 

$

16,050

 

 

$

15,755

 

 

$

32,377

 

 

$

33,026

 

Short-term lease cost

 

 

2,264

 

 

 

4,301

 

 

 

4,330

 

 

 

7,952

 

Amortization of right-of-use assets

 

 

543

 

 

 

251

 

 

 

1,017

 

 

 

505

 

Interest on lease liabilities

 

 

28

 

 

 

22

 

 

 

57

 

 

 

46

 

Sublease income

 

 

(793

)

 

 

(932

)

 

 

(1,569

)

 

 

(1,812

)

Total lease cost

 

$

18,092

 

 

$

19,397

 

 

$

36,212

 

 

$

39,717

 

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases for the six months ended June 30, 2021 and June 30, 2020 is as follows (in thousands):

 

 

 

Six Months Ended

 

 

 

June 30, 2021

 

 

June 30, 2020

 

Operating cash flows for operating leases

 

$

33,035

 

 

$

30,676

 

Operating cash flows for finance leases

 

 

58

 

 

 

46

 

Financing cash flows from finance leases

 

 

1,020

 

 

 

553

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

 

8,328

 

 

 

17,034

 

Right-of-use assets obtained in exchange for new finance lease liabilities

 

$

831

 

 

$

-

 

Schedule of Supplemental Balance Sheet and Other Information Related to Leases

Supplemental balance sheet and other information related to leases as of June 30, 2021 and December 31, 2020 are as follows (in thousands):

 

 

 

June 30, 2021

 

 

December 31, 2020

 

Operating Leases:

 

 

 

 

 

 

 

 

Right-of-use assets

 

$

194,484

 

 

$

210,398

 

Lease liabilities:

 

 

 

 

 

 

 

 

Current

 

$

53,997

 

 

$

54,133

 

Long-term

 

 

164,754

 

 

 

182,467

 

Total operating lease liabilities

 

$

218,751

 

 

$

236,600

 

Finance Leases:

 

 

 

 

 

 

 

 

Other noncurrent assets

 

$

3,414

 

 

$

3,363

 

Accrued expenses and other current liabilities

 

$

1,598

 

 

$

1,461

 

Other long-term liabilities

 

$

1,618

 

 

$

1,733

 

 

 

 

 

 

 

 

 

 

Weighted Average Remaining Lease Term:

 

 

 

 

 

 

 

 

Operating leases

 

4.7 Years

 

 

5 years

 

Finance leases

 

2.5 years

 

 

3 years

 

Weighted Average Discount Rate:

 

 

 

 

 

 

 

 

Operating leases

 

 

3.6

%

 

 

3.7

%

Finance leases

 

 

3.0

%

 

 

3.8

%

Schedule of Maturity Analysis of Future Undiscounted Cash Flows

 

 

A maturity analysis of the future undiscounted cash flows associated with the Company’s operating and finance lease liabilities as of June 30, 2021 is as follows (in thousands):

 

 

 

Operating Leases

 

 

Finance Leases

 

2021 (remaining)

 

$

30,351

 

 

$

896

 

2022

 

 

58,082

 

 

 

1,358

 

2023

 

 

50,146

 

 

 

684

 

2024

 

 

39,529

 

 

 

274

 

2025

 

 

28,945

 

 

 

106

 

Thereafter

 

 

30,268

 

 

 

3

 

Total lease payments

 

 

237,321

 

 

 

3,321

 

Less: imputed interest

 

 

(18,570

)

 

 

(105

)

Total present value of lease liabilities

 

$

218,751

 

 

$

3,216