Leased Assets and Liabilities

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leased Assets and Liabilities

Leased Assets and Liabilities

We lease real estate and equipment under operating and finance lease agreements. Our leases have terms of up to 15 years, and may include renewal options. At lease commencement, a lease liability and corresponding right-of-use asset is recognized. Lease liabilities represent the present value of future lease payments over the expected lease term, including options to extend or terminate the lease when it is reasonably certain those options will be exercised. Lease payments include all fixed payments and variable payments tied to an index, but exclude costs such as common area maintenance charges, property taxes, insurance and mileage. The present value of the lease liability is determined using our incremental borrowing rate at lease commencement. Information regarding operating and financing leases is as follows:

Leases	Balance Sheet Location	December 31, 2022		December 31, 2021
Assets
Operating	Operating lease assets	$	296,129	$	208,428
Finance	Property, plant and equipment, net	54,063		46,770
Total leased assets		$	350,192	$	255,198
Liabilities
Operating	Current operating lease liabilities	$	52,576	$	40,299
	Noncurrent operating lease liabilities	265,696		192,092
Finance	Accounts payable and accrued liabilities	11,690		10,694
	Other noncurrent liabilities	43,858		39,535
Total lease liabilities		$	373,820	$	282,620

	Years Ended December 31,
Lease Cost	2022		2021		2020
Operating lease expense	$	67,041	$	62,269	$	54,718
Finance lease expense
Amortization of leased assets	12,321		9,191		3,792
Interest on lease liabilities	3,323		2,826		949
Variable lease expense	26,870		33,924		21,413
Sublease income	(1,086)		(1,761)		(979)
Total expense	$	108,469	$	106,449	$	79,893

Operating lease expense includes immaterial amounts related to leases with terms of 12 months or less.

Future Lease Payments	Operating Leases		Finance Leases		Total
2023	$	73,846	$	14,689	$	88,535
2024	69,552		13,378		82,930
2025	63,096		11,697		74,793
2026	53,016		9,989		63,005
2027	46,496		8,178		54,674
Thereafter	98,880		6,721		105,601
Total	404,886		64,652		469,538
Less: present value discount	86,614		9,104		95,718
Lease liability	$	318,272	$	55,548	$	373,820

Future lease payments exclude $53 million of payments for leases signed but not yet commenced at December 31, 2022.

Lease Term and Discount Rate	December 31, 2022	December 31, 2021
Weighted-average remaining lease term
Operating leases	6.4 years	6.7 years
Finance leases	5.1 years	5.5 years
Weighted-average discount rate
Operating leases	8.2%	6.5%
Finance leases	6.2%	6%

	Years Ended December 31,
Cash Flow Information	2022		2021		2020
Operating cash outflows - operating leases	$	65,012	$	59,748	$	52,565
Operating cash outflows - finance leases	$	3,323	$	2,826	$	949
Financing cash outflows - finance leases	$	11,091	$	7,707	$	4,223
Leased assets obtained in exchange for new lease obligations
Operating leases	$	135,359	$	48,662	$	38,641
Finance leases	$	20,927	$	30,840	$	17,741

Leased Assets and Liabilities

Leased Assets and Liabilities

We lease real estate and equipment under operating and finance lease agreements. Our leases have terms of up to 15 years, and may include renewal options. At lease commencement, a lease liability and corresponding right-of-use asset is recognized. Lease liabilities represent the present value of future lease payments over the expected lease term, including options to extend or terminate the lease when it is reasonably certain those options will be exercised. Lease payments include all fixed payments and variable payments tied to an index, but exclude costs such as common area maintenance charges, property taxes, insurance and mileage. The present value of the lease liability is determined using our incremental borrowing rate at lease commencement. Information regarding operating and financing leases is as follows:

Leases	Balance Sheet Location	December 31, 2022		December 31, 2021
Assets
Operating	Operating lease assets	$	296,129	$	208,428
Finance	Property, plant and equipment, net	54,063		46,770
Total leased assets		$	350,192	$	255,198
Liabilities
Operating	Current operating lease liabilities	$	52,576	$	40,299
	Noncurrent operating lease liabilities	265,696		192,092
Finance	Accounts payable and accrued liabilities	11,690		10,694
	Other noncurrent liabilities	43,858		39,535
Total lease liabilities		$	373,820	$	282,620

	Years Ended December 31,
Lease Cost	2022		2021		2020
Operating lease expense	$	67,041	$	62,269	$	54,718
Finance lease expense
Amortization of leased assets	12,321		9,191		3,792
Interest on lease liabilities	3,323		2,826		949
Variable lease expense	26,870		33,924		21,413
Sublease income	(1,086)		(1,761)		(979)
Total expense	$	108,469	$	106,449	$	79,893

Operating lease expense includes immaterial amounts related to leases with terms of 12 months or less.

Future Lease Payments	Operating Leases		Finance Leases		Total
2023	$	73,846	$	14,689	$	88,535
2024	69,552		13,378		82,930
2025	63,096		11,697		74,793
2026	53,016		9,989		63,005
2027	46,496		8,178		54,674
Thereafter	98,880		6,721		105,601
Total	404,886		64,652		469,538
Less: present value discount	86,614		9,104		95,718
Lease liability	$	318,272	$	55,548	$	373,820

Future lease payments exclude $53 million of payments for leases signed but not yet commenced at December 31, 2022.

Lease Term and Discount Rate	December 31, 2022	December 31, 2021
Weighted-average remaining lease term
Operating leases	6.4 years	6.7 years
Finance leases	5.1 years	5.5 years
Weighted-average discount rate
Operating leases	8.2%	6.5%
Finance leases	6.2%	6%

	Years Ended December 31,
Cash Flow Information	2022		2021		2020
Operating cash outflows - operating leases	$	65,012	$	59,748	$	52,565
Operating cash outflows - finance leases	$	3,323	$	2,826	$	949
Financing cash outflows - finance leases	$	11,091	$	7,707	$	4,223
Leased assets obtained in exchange for new lease obligations
Operating leases	$	135,359	$	48,662	$	38,641
Finance leases	$	20,927	$	30,840	$	17,741