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Leases
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases Leases:We lease certain office space, buildings, transportation and equipment in various countries. The initial lease terms generally range from 1 to 30 years for real estate leases, and from 2 to 15 years for non-real estate leases. Leases with an initial
term of 12 months or less are not recorded on the balance sheet, and we recognize lease expense for these leases on a straight-line basis over the lease term.
Many leases include options to terminate or renew, with renewal terms that can extend the lease term from 1 to 50 years or more. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
The following table provides details of our lease contracts for the years ended December 31, 2022, 2021 and 2020 (in thousands):
Year Ended December 31,
202220212020
Operating lease cost$43,809 $42,338 $33,904 
Finance lease cost:
  Amortization of right of use assets3,377 614 585 
  Interest on lease liabilities3,504 3,010 2,681 
Total finance lease cost6,881 3,624 3,266 
Short-term lease cost13,985 11,084 11,663 
Variable lease cost8,064 8,002 8,691 
Total lease cost$72,739 $65,048 $57,524 
Supplemental cash flow information related to our lease contracts for the years ended December 31, 2022, 2021 and 2020 is as follows (in thousands):
Year Ended December 31,
202220212020
Cash paid for amounts included in the measurement of lease liabilities:
  Operating cash flows from operating leases$36,629 $33,030 $36,245 
  Operating cash flows from finance leases3,389 1,776 1,568 
  Financing cash flows from finance leases1,432 687 663 
Right-of-use assets obtained in exchange for lease obligations:
  Operating leases15,913 56,814 29,581 
  Finance leases3,976 17,096 — 
Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at December 31, 2022 and 2021 is as follows (in thousands, except as noted):
December 31,
20222021
Operating leases:
  Other assets$128,173 $154,741 
  Accrued expenses35,515 31,603 
  Other noncurrent liabilities99,269 126,997 
  Total operating lease liabilities134,784 158,600 
Finance leases:
  Net property, plant and equipment81,356 75,302 
  Current portion of long-term debt(a)
4,995 3,768 
  Long-term debt74,409 74,011 
  Total finance lease liabilities79,404 77,779 
Weighted average remaining lease term (in years):
  Operating leases13.312.9
  Finance leases22.824.5
Weighted average discount rate (%):
  Operating leases3.60 %3.44 %
  Finance leases4.41 %4.47 %
(a) Balance includes accrued interest of finance lease.
Maturities of lease liabilities as of December 31, 2022 were as follows (in thousands):
Operating LeasesFinance Leases
2023$38,529 $6,979 
202424,565 9,328 
202513,518 6,088 
202610,551 5,450 
20278,866 5,450 
Thereafter112,836 91,801 
Total lease payments208,865 125,096 
Less imputed interest74,081 45,692 
Total$134,784 $79,404 
Leases Leases:We lease certain office space, buildings, transportation and equipment in various countries. The initial lease terms generally range from 1 to 30 years for real estate leases, and from 2 to 15 years for non-real estate leases. Leases with an initial
term of 12 months or less are not recorded on the balance sheet, and we recognize lease expense for these leases on a straight-line basis over the lease term.
Many leases include options to terminate or renew, with renewal terms that can extend the lease term from 1 to 50 years or more. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
The following table provides details of our lease contracts for the years ended December 31, 2022, 2021 and 2020 (in thousands):
Year Ended December 31,
202220212020
Operating lease cost$43,809 $42,338 $33,904 
Finance lease cost:
  Amortization of right of use assets3,377 614 585 
  Interest on lease liabilities3,504 3,010 2,681 
Total finance lease cost6,881 3,624 3,266 
Short-term lease cost13,985 11,084 11,663 
Variable lease cost8,064 8,002 8,691 
Total lease cost$72,739 $65,048 $57,524 
Supplemental cash flow information related to our lease contracts for the years ended December 31, 2022, 2021 and 2020 is as follows (in thousands):
Year Ended December 31,
202220212020
Cash paid for amounts included in the measurement of lease liabilities:
  Operating cash flows from operating leases$36,629 $33,030 $36,245 
  Operating cash flows from finance leases3,389 1,776 1,568 
  Financing cash flows from finance leases1,432 687 663 
Right-of-use assets obtained in exchange for lease obligations:
  Operating leases15,913 56,814 29,581 
  Finance leases3,976 17,096 — 
Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at December 31, 2022 and 2021 is as follows (in thousands, except as noted):
December 31,
20222021
Operating leases:
  Other assets$128,173 $154,741 
  Accrued expenses35,515 31,603 
  Other noncurrent liabilities99,269 126,997 
  Total operating lease liabilities134,784 158,600 
Finance leases:
  Net property, plant and equipment81,356 75,302 
  Current portion of long-term debt(a)
4,995 3,768 
  Long-term debt74,409 74,011 
  Total finance lease liabilities79,404 77,779 
Weighted average remaining lease term (in years):
  Operating leases13.312.9
  Finance leases22.824.5
Weighted average discount rate (%):
  Operating leases3.60 %3.44 %
  Finance leases4.41 %4.47 %
(a) Balance includes accrued interest of finance lease.
Maturities of lease liabilities as of December 31, 2022 were as follows (in thousands):
Operating LeasesFinance Leases
2023$38,529 $6,979 
202424,565 9,328 
202513,518 6,088 
202610,551 5,450 
20278,866 5,450 
Thereafter112,836 91,801 
Total lease payments208,865 125,096 
Less imputed interest74,081 45,692 
Total$134,784 $79,404