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LEASES
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
LEASES LEASESOur material lease contracts are for facilities and advanced radiology equipment. In regards to our imaging, administrative and warehouse facilities, the most common initial lease term varies in length from 5 to 15 years. Including renewal options negotiated with the landlord, we can have a total span of 10 to 35 years at these locations, and we do not enter into purchase options on the underlying property. We also lease smaller satellite X-Ray locations on mutually renewable terms, usually lasting one year. Leases for advanced radiology and office equipment have terms generally lasting from 5 to 8 years. All leases are classified as operating or finance for accounting purposes, depending on the terms of the agreement. Our Incremental Borrowing Rate ("IBR") used to discount the stream of lease payments is closely related to the interest rates
charged on our collateralized debt obligations and our IBR is adjusted when those rates experience a substantial change. During 2021, we satisfied all liabilities classified as finance leases, and only operating leases remain.

The components of lease expense were as follows:
Years ended December 31,
(In thousands)20222021
Operating lease cost(1)
$107,475 $121,578 
Finance lease cost:
     Depreciation of leased equipment$2,896 $3,068 
     Interest on lease liabilities— 46 
Total finance lease cost$2,896 $3,114 

1) Operating lease cost above for the year ended December 31, 2021 included $12.6 million in lease abandonment charges. Please see our discussion in the Leases section of Note 2, Summary of Significant Accounting Policies.

Supplemental cash flow information related to leases was as follows:
Years ended December 31,
(In thousands)20222021
Cash paid for amounts included in the measurement of lease liabilities:
     Operating cash flows from operating leases (1)
$108,004 $110,288 
     Operating cash flows from financing leases— 46 
     Financing cash flows from financing leases— 3,304 
Right-of-use & Equipment assets obtained in exchange for lease obligations:
     Operating leases88,080 186,695 
1) On December 31, 2021 we reduced our liability and eliminated the related right-of-use assets for future lease options at facilities that we elected to abandon. The amount of liability and right-of-use asset reduction amounted to approximately $3.3 million.

Supplemental balance sheet information related to leases was as follows:
(In thousands, except lease term and discount rates)December 31,
20222021
Operating Leases
Operating lease right-of-use assets$603,524 $584,291 
Current portion of operating lease liability57,607 65,452 
Operating lease liabilities604,117 577,675 
     Total operating lease liabilities$661,724 $643,127 
Finance Leases
Equipment at cost$13,971 $13,984 
Accumulated depreciation(12,171)(9,287)
Equipment, net$1,801 $4,697 
Weighted Average Remaining Lease Term
Operating leases - years10.910.4
Weighted Average Discount Rate
Operating leases6.4 %6.3 %


Maturities of lease liabilities were as follows:
(In thousands)
Operating Leases
Year Ending December 31,
2023$92,371 
202492,436 
202588,941 
202685,872 
202782,136 
Thereafter499,326 
Total Lease Payments941,082 
Less imputed interest(279,358)
Total$661,724 

As of December 31, 2022, we have additional operating leases for facilities and medical equipment that have not yet commenced of approximately $11.8 million. These operating leases will commence in 2023 with lease terms of 1 to 15 years.