Leases and Other

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases and Other

Note 19. Leases and Other

The balance sheet presentation of our operating and finance leases is as follows:

		March 31,
(in thousands)	Classification on the Condensed Consolidated Balance Sheet	2019
Assets:
Operating lease assets	Operating lease right-of-use assets	$	59,671
Finance lease assets	Property and equipment, net		9,046
Total lease assets		$	68,717
Liabilities:
Current:
Operating lease obligations	Operating lease obligations	$	21,080
Finance lease obligations	Current portion of debt and finance lease obligations		2,023
Noncurrent:
Operating lease obligations	Long-term operating lease obligations		42,098
Finance lease obligations	Long-term debt and finance lease obligations		6,801
Total lease liabilities		$	72,002

The components of lease expense consisted of the following:

	Three Months Ended
(in thousands)	March 31, 2019
Finance lease cost:
Amortization of right-of-use assets	$	589
Interest on lease liabilities		67
Operating lease cost		5,992
Short-term lease cost		215
Variable lease cost		1,815
Sublease income(1)		(172	)
Total lease cost, net	$	8,506

⁽¹⁾ Sublease income excludes rental income from owned assets, which is recorded in revenue.

Other information related to operating and finance leases are 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 activities	$	6,198
Operating cash flows from finance activities	$	67
Financing cash flows from finance activities	$	522
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	11,439
Finance leases	$	1,182
	March 31,
	2019
Weighted-average remaining lease term (years):
Operating leases		4.32
Finance leases		8.48
Weighted-average discount rate:
Operating leases		5.18	%
Finance leases		5.76	%

As of March 31, 2019, the estimated future minimum lease payments under non-cancellable leases, excluding variable leases and variable non-lease components, are as follows:

(in thousands)	Operating Leases			Finance Leases			Total
Remainder of 2019	$	17,844		$	1,964		$	19,808
2020		20,827			2,108			22,935
2021		10,917			1,368			12,285
2022		6,918			997			7,915
2023		4,744			913			5,657
Thereafter		12,303			4,144			16,447
Total future lease payments		73,553			11,494			85,047
Less: Amount representing interest		(10,375	)		(2,670	)		(13,045	)
Present value of minimum lease payments		63,178			8,824			72,002
Current portion		21,080			2,023			23,103
Long-term portion	$	42,098		$	6,801		$	48,899

As of March 31, 2019, the estimated future minimum rentals under non-cancellable leases, which includes rental income from facilities that we own and sublease income from facilities that we lease, are as follows:

(in thousands)
Remainder of 2019	$	1,511
2020		1,674
2021		1,845
2022		1,512
2023		1,415
Thereafter		2,795
Total minimum sublease rents		10,752

As previously disclosed on our 2018 Form 10-K and under the previous lease accounting standard, our future minimum rental payments and related sublease rentals receivable with respect to non-cancelable operating leases with terms in excess of one year would have been as follows as of December 31, 2018:

(in thousands)	Rental Payments		Receivable Under Subleases
2019	$	28,671	$	2,382
2020		22,919		1,582
2021		13,217		1,711
2022		8,280		1,370
2023		6,201		1,270
Thereafter		8,305		2,798
Total	$	87,593	$	11,113