Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease costs

The table below presents the Company’s net lease cost and certain other information related to our leasing activities as of and for the years ended December 31, 2020 and 2019 (dollars in thousands).

	Year Ended December 31,
Description	2020			2019
Operating lease cost (1)	$	140,829		$	144,727
Variable lease cost (2)	17,463			16,404
Sublease income	(38,925)			(38,901)
Total lease cost, net (3)	$	119,367		$	122,230
Cash paid for amounts included in the measurement of operating lease liabilities	$	137,790		$	135,799
Cash receipts from sublease arrangements	$	38,565		$	34,441
Right-of-use assets obtained in exchange for new operating lease liabilities	$	27,258		$	136,997
As of December 31,	2020			2019
Weighted average remaining lease term for operating leases (in years)	9.6			10.2
Weighted average discount rate for operating leases	6.6		%	6.7		%

(1)Included in operating lease cost was $42.2 million and $43.2 million of costs for subleasing activities during 2020 and 2019, respectively.

(2)These amounts are primarily variable lease and nonlease costs that were not fixed at the lease commencement date or are dependent on something other than an index or a rate.

(3)The Company did not capitalize any operating lease costs during 2020 or 2019.

Operating lease maturity schedule

As of December 31, 2020, the (i) maturities of operating lease liabilities under non-cancelable arrangements and (ii) estimated future sublease cash receipts from non-cancelable arrangements were as follows (in thousands):

	Operating		Sublease
	Lease		Cash
Period ending December 31,	Payments		Receipts
2021	$	138,403	$	44,446
2022	133,854		47,965
2023	130,627		48,909
2024	120,092		40,629
2025	115,279		40,989
Thereafter	549,496		102,510
Total future minimum operating lease payments and estimated sublease cash receipts (1)	1,187,751		$	325,448
Imputed interest	(323,590)
Total operating lease liabilities per the Consolidated Balance Sheet	$	864,161

(1)Approximately 80% of the operating lease payments pertain to properties in the United States.

Supplemental balance sheet information

The table below indicates where the discounted operating lease payments from the above table are classified in the Consolidated Balance Sheet (in thousands).

	December 31,
Description	2020		2019
Accounts payable and accrued liabilities	$	83,995	$	76,516
Operating lease liabilities	780,166		832,533
Total operating lease liabilities per the Consolidated Balance Sheet	$	864,161	$	909,049