Leases (Tables)

6 Months Ended

Jun. 30, 2019

The following table provides information on the amounts (in thousands, except lease term and discount rates) of our leased assets and liabilities as of June 30, 2019 and their placement within our condensed consolidated balance sheets:



Lease type	Balance Sheet Location	June 30, 2019
Assets
Finance	Property, plant, and equipment	$	10,781
Finance	Accumulated amortization	(3,481		)
Finance	Property and equipment, net	$	7,300
Operating	Operating lease assets	389,047
Total leased assets		$	396,347

Liabilities
Current
Finance	Other accrued liabilities	$	1,718
Operating	Operating lease liabilities	59,707
Long-term
Finance	Finance lease liabilities	6,501
Operating	Operating lease liabilities	332,465
Total lease liabilities		$	400,391

Weighted-average remaining lease term (in years)
Finance		5.94
Operating		11.40
Weighted-average discount rate
Finance		6.69		%
Operating		7.77		%

Lease, Cost

The following table summarizes the lease costs recognized on our condensed consolidated statements of operations (in thousands):



Lease cost type	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Finance lease cost
Amortization of finance lease assets	$	402	$	901
Interest on lease liabilities	108		264
Operating lease cost	24,566		47,978
Variable lease cost	910		2,540
Short-term lease cost	163		416
Net lease cost	$	26,149	$	52,099

The following table summarizes the supplemental cash flow information related to leases as follows (in thousands):



Lease type	Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of liabilities
Financing cash flows from finance leases	$	996
Operating cash flows from finance leases	245
Operating cash flows from operating leases	46,044
Non-cash supplemental amounts
ROU assets obtained in exchange for new finance lease obligations	192
ROU assets obtained in exchange for new operating lease obligations	14,308

Lessee, Operating Lease, Liability, Maturity

The table below includes the estimated future undiscounted cash flows for finance and operating leases as of June 30, 2019 (in thousands):



For the year ending December 31,	Finance leases			Operating leases			Total
2019 (1)	$	1,249		$	47,357		$	48,606
2020	1,983			79,554			81,537
2021	1,411			51,536			52,947
2022	1,195			49,395			50,590
2023	1,166			48,358			49,524
2024	936			42,737			43,673
Thereafter	2,005			241,297			243,302
Total lease payments	9,945			560,234			570,179
Less amount representing interest	(1,726		)	(168,062		)	(169,788		)
Present value of lease liabilities	$	8,219		$	392,172		$	400,391

_________________________________________________________


(1)	Represents period from July 1, 2019 to December 31, 2019.

Finance Lease, Liability, Maturity

The table below includes the estimated future undiscounted cash flows for finance and operating leases as of June 30, 2019 (in thousands):



For the year ending December 31,	Finance leases			Operating leases			Total
2019 (1)	$	1,249		$	47,357		$	48,606
2020	1,983			79,554			81,537
2021	1,411			51,536			52,947
2022	1,195			49,395			50,590
2023	1,166			48,358			49,524
2024	936			42,737			43,673
Thereafter	2,005			241,297			243,302
Total lease payments	9,945			560,234			570,179
Less amount representing interest	(1,726		)	(168,062		)	(169,788		)
Present value of lease liabilities	$	8,219		$	392,172		$	400,391

_________________________________________________________


(1)	Represents period from July 1, 2019 to December 31, 2019.

Schedule of Future Minimum Lease Payments for Capital Leases

At December 31, 2018, the estimated minimum lease payments for capital and operating leases with initial or remaining non-cancelable lease terms in excess of one year were as follows (in thousands):



	Capital leases		Operating leases
2019	$	2,723	$	62,589
2020	2,264		62,132
2021	1,757		39,821
2022	1,512		38,402
2023	1,148		38,827
Thereafter	2,600		191,717
Total minimum rental payments	$	12,004	$	433,488
Less amount representing interest	1,865
Present value of minimum rental payments	$	10,139

Schedule of Future Minimum Rental Payments for Operating Leases

At December 31, 2018, the estimated minimum lease payments for capital and operating leases with initial or remaining non-cancelable lease terms in excess of one year were as follows (in thousands):



	Capital leases		Operating leases
2019	$	2,723	$	62,589
2020	2,264		62,132
2021	1,757		39,821
2022	1,512		38,402
2023	1,148		38,827
Thereafter	2,600		191,717
Total minimum rental payments	$	12,004	$	433,488
Less amount representing interest	1,865
Present value of minimum rental payments	$	10,139