Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lease, Cost

The Company’s total lease expense is comprised of the following:

	Three Months Ended
(In Thousands)	March 31, 2019
Finance Lease Cost:
Amortization of Right-of-Use Assets	$	465
Interest on Lease Liabilities	114
Total Finance Lease Cost:	579
Operating Lease Cost:
Operating Lease Cost Classified within Operating Expenses1	29,213
Operating Lease Cost Classified within Restructuring Expenses, Net	804
Sublease Receipts	(732		)
Total Operating Lease Cost:	29,285
Total Lease Cost	$	29,864

¹ Includes short-term and variable lease costs, which are not significant.

Supplemental Cash Flow Information

Additional information regarding the Company’s leasing activities as a lessee is as follows:

	Three Months Ended
(In Thousands)	March 31, 2019
Cash Paid for Amounts Included in Measurement of Lease Liabilities:
Operating Cash Flows for Finance Leases	$	113
Operating Cash Flows for Operating Leases	31,643
Financing Cash Flows for Finance Leases	574
Total Cash Paid for Amounts Included in Measurement of Lease Liabilities	32,330
Right-of-Use Assets Obtained in Exchange for New Finance Lease Liabilities	—
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities	$	6,587

Assets And Liabilities, Lessee

Supplemental balance sheet information related to leases is as follows:

(In Thousands)	Balance Sheet Classification	March 31, 2019
Assets
Operating Lease Assets	Operating Lease Right-of-Use Assets	$	370,282
Finance Lease Assets	Property, Plant and Equipment, Net	2,578
Total Lease Assets		$	372,860
Liabilities
Operating Lease Liabilities	Operating Lease Liabilities	$	406,559
Finance Lease Liabilities	Debt	4,590
Total Lease Liabilities		$	411,149

Schedule of Weighted-Average Discount Rate and Weighted-Average Remaining Lease Term

Below is a summary of the weighted-average discount rate and weighted-average remaining lease term for the Company’s finance and operating leases:

	Weighted Average Discount Rate1		Weighted Average Remaining Lease Term (in years)
Finance Leases	6.0	%	2
Operating Leases	3.6	%	5

¹ Upon adoption of ASC 842, discount rates for existing operating leases were established as of January 1, 2019.

Operating Lease, Liability, Maturity

The table also includes a reconciliation of the future undiscounted cash flows to the present value of the finance and operating lease liabilities included in the condensed consolidated balance sheet.

(In Thousands)	Operating Leases		Finance Leases		Total
2019	$	89,172	$	2,407	$	91,579
2020	104,166		2,028		106,194
2021	81,568		772		82,340
2022	61,345		74		61,419
2023	40,967		—		40,967
Thereafter	75,891		—		75,891
Total Undiscounted Cash Flows	453,109		5,281		458,390
Less: Interest	46,550		691		47,241
Present Value of Lease Liabilities	$	406,559	$	4,590	$	411,149

Finance Lease, Liability, Maturity

The table also includes a reconciliation of the future undiscounted cash flows to the present value of the finance and operating lease liabilities included in the condensed consolidated balance sheet.

(In Thousands)	Operating Leases		Finance Leases		Total
2019	$	89,172	$	2,407	$	91,579
2020	104,166		2,028		106,194
2021	81,568		772		82,340
2022	61,345		74		61,419
2023	40,967		—		40,967
Thereafter	75,891		—		75,891
Total Undiscounted Cash Flows	453,109		5,281		458,390
Less: Interest	46,550		691		47,241
Present Value of Lease Liabilities	$	406,559	$	4,590	$	411,149