Leases (Tables)

3 Months Ended

Mar. 31, 2019

Supplemental balance sheet information related to leases

Supplemental balance sheet information related to leases is as follows:


(in thousands)	March 31, 2019		December 31, 2018
Lease assets:
Operating lease right-of-use assets, net:
Computer equipment	$	74,587	na
Facilities		131,420	na
Other		232	na
Total operating lease right-of-use assets, net		206,239	na
Finance lease right-of-use assets:
Computer and other equipment		78,794	91,526
Furniture and other equipment		3,859	6,104
Total finance lease assets		82,653	97,630
Less accumulated depreciation:
Computer and other equipment		(37,622)	(47,903)
Furniture and other equipment		(2,823)	(4,859)
Total accumulated depreciation		(40,445)	(52,762)
Total finance lease right-of-use assets, net		42,208	44,868
Total lease assets	$	248,447	44,868
Lease liabilities:
Current portion of operating lease liabilities	$	49,469	na
Operating lease liabilities, excluding current portion		168,505	na
Current portion of obligations under finance leases		5,976	5,934
Obligations under finance leases, excluding current portion		29,849	31,243
Total lease liabilities	$	253,799	37,177
na = not applicable since TSYS adopted ASC 842 as of January 1, 2019

Components of lease expense

The components of lease expense are as follows:


	Three months ended
(in thousands)	March 31, 2019
Operating lease expense:
Fixed lease expense	$	14,975
Variable lease expense		1,969
Short-term lease expense		1,369
Total operating lease expense		18,313
Finance lease expense:
Amortization of ROU assets		2,891
Interest on finance lease liabilities		388
Total finance lease expense		3,279
Total lease expense	$	21,592

Supplemental cash flow information

Supplemental cash flow information related to leases is as follows:


	Three months ended
(in thousands)	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	18,882
Operating cash flows from finance leases		388
Financing cash flows from finance leases		1,461


	Three months ended March 31,
(in thousands)	2019		2018
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	36,369	na
Finance leases		-	6,818
na = not applicable since TSYS adopted ASC 842 as of January 1, 2019

Schedule of weighted average remaining lease term and weighted average discount rate

The weighted-average remaining lease term and weighted-average discount rate are as follows:


	Three months ended
	March 31, 2019
Weighted-average remaining lease term (years):
Operating leases	5.32
Finance leases	5.81
Weighted-average discount rate:
Operating leases	4.25	%
Finance leases	8.46	%

Schedule of future minimum lease payments

The future minimum lease payments under noncancelable operating and finance leases with remaining terms greater than one year for the next five years and thereafter and in the aggregate as of March 31, 2019 and December 31, 2018, are as follows:


	March 31, 2019			December 31, 2018
(in thousands)	Operating Leases		Finance Leases	Operating Leases	Finance Leases
20191	$	43,544	5,581	54,818	7,393
2020		54,611	7,406	54,738	7,319
2021		51,209	7,161	50,794	7,085
2022		42,355	7,127	42,048	7,051
2023		19,226	6,732	19,089	6,658
Thereafter		33,057	6,936	32,894	6,868
Total lease payments		244,002	40,943	254,381	42,374
Less imputed interest		(24,081)	(4,840)	na	(5,197)
Total	$	219,921	36,103	254,381	37,177
na = not applicable since TSYS adopted ASC 842 as of January 1, 2019

For the three months ended March 31, 2019, this row represents the remaining payments from April to December 2019.