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Leases (Tables)
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Summary of Components of Lease Cost

The components of lease cost are as follows:

 

 

 

Three Months Ended

 

 

 

March 31, 2019

 

 

 

(Dollars in Thousands)

 

Operating lease cost

 

$

19,966

 

Finance lease cost:

 

 

 

 

   Amortization of right-of-use assets

 

 

935

 

   Interest on lease liabilities

 

 

148

 

Variable lease cost

 

 

4,667

 

Short-term lease cost

 

 

8,118

 

Total lease cost

 

$

33,834

 

Summary of Balance Sheet Classifications of Operating and Finance Leases

The balance sheet classifications of operating and finance leases are as follows:

 

 

 

Three Months Ended

 

 

 

March 31, 2019

 

 

 

(Dollars in Thousands)

 

Operating Leases:

 

 

 

 

Operating lease right-of-use assets

 

$

498,233

 

 

 

 

 

 

Current operating lease liabilities

 

$

50,776

 

Noncurrent operating lease liabilities

 

 

446,128

 

Total operating lease liabilities

 

$

496,904

 

 

 

 

 

 

Finance Leases:

 

 

 

 

Property, plant and equipment

 

$

11,143

 

Accumulated depreciation

 

 

(935

)

Property, plant and equipment, net

 

$

10,208

 

 

 

 

 

 

Other current liabilities

 

$

3,456

 

Other noncurrent liabilities

 

 

7,862

 

Total finance lease liabilities

 

$

11,318

 

Summary of Weighted-average Remaining Lease Terms and Discount Rates Weighted-average remaining lease terms and discount rates are as follows:

 

 

 

March 31, 2019

 

Weighted-average remaining lease term (years):

 

 

 

 

   Operating leases

 

 

15.0

 

   Finance leases

 

 

8.2

 

 

 

 

 

 

Weighted-average discount rate:

 

 

 

 

   Operating leases

 

 

4.3

%

   Finance leases

 

 

5.1

%

 

Summary of Future Lease Payments under Noncancellable Leases

Future lease payments under leases as of March 31, 2019 are as follows:

 

 

 

Operating

 

 

Finance

 

 

 

Leases

 

 

Leases

 

 

 

(Dollars in Thousands)

 

2019

 

$

53,014

 

 

$

2,956

 

2020

 

 

63,870

 

 

 

3,243

 

2021

 

 

52,674

 

 

 

1,951

 

2022

 

 

48,376

 

 

 

1,094

 

2023

 

 

45,912

 

 

 

779

 

Thereafter

 

 

429,013

 

 

 

4,176

 

Total lease payments

 

 

692,859

 

 

 

14,199

 

Less: imputed interest

 

 

(195,593

)

 

 

(2,881

)

Present value of lease payments

 

 

497,266

 

 

 

11,318

 

Less: current lease obligations

 

 

(50,776

)

 

 

(3,456

)

Total long-term lease obligations

 

$

446,490

 

 

$

7,862

 

Summary of Other Leases Information

 

 

Three Months Ended

 

 

 

March 31, 2019

 

 

 

(Dollars in Thousands)

 

Cash paid for amounts included in the measurement

   of lease liabilities:

 

 

 

 

   Operating cash flows used for operating leases

 

$

19,512

 

   Operating cash flows used for finance leases

 

$

148

 

   Financing cash flows used for finance leases

 

$

951

 

Right-of-use assets obtained in exchange for new

   operating lease liabilities

 

$

16,924

 

Right-of-use assets obtained in exchange for

   new finance lease liabilities

 

$

217

 

Summary of Future Minimum Lease and Royalty Commitments for all Noncancelable Agreements and Capital Lease Obligations Future minimum lease and royalty commitments for all noncancelable agreements and capital lease obligations as of December 31, 2018 were as follows:

 

 

 

Capital

Leases

 

 

Operating Leases

 

 

Royalty Commitments

 

 

 

(Dollars in Thousands)

 

2019

 

$

3,718

 

 

$

105,955

 

 

$

14,614

 

2020

 

 

2,695

 

 

 

70,478

 

 

 

11,364

 

2021

 

 

1,735

 

 

 

60,382

 

 

 

10,335

 

2022

 

 

1,004

 

 

 

57,531

 

 

 

9,545

 

2023

 

 

713

 

 

 

56,511

 

 

 

8,109

 

Thereafter

 

 

3,893

 

 

 

318,147

 

 

 

65,981

 

Total

 

 

13,758

 

 

$

669,004

 

 

$

119,948

 

Less: imputed interest

 

 

(2,879

)

 

 

 

 

 

 

 

 

Present value of minimum lease payments

 

 

10,879

 

 

 

 

 

 

 

 

 

Less: current capital lease obligations

 

 

(3,249

)

 

 

 

 

 

 

 

 

Long-term capital lease obligations

 

$

7,630