Leases Leases (Tables)

3 Months Ended

Mar. 31, 2020

The components of lease expense were as follows:



Lease cost	Three months ended March 31, 2020		Three months ended March 31, 2019
Operating lease cost⁽¹⁾:
Fixed lease expense	$	134,733	$	128,110
Variable lease expense	30,059		28,571
Financing lease cost:
Amortization of leased assets	6,077		5,826
Interest on lease liabilities	3,603		3,775
Net lease cost	$	174,472	$	166,282

(1)

Includes short-term lease expense and sublease income, which are immaterial.

Other information related to leases was as follows:



Other information	Three months ended March 31, 2020		Three months ended March 31, 2019
Gains on sale leasebacks, net	$	9,489	$	3,987
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	162,828	$	153,587
Operating cash flows from finance leases	$	5,178	$	5,661
Financing cash flows from finance leases	$	4,180	$	5,344
Net operating lease assets obtained in exchange for new or modified operating lease liabilities	$	101,473	$	45,034



Lease term and discount rate	March 31, 2020
Weighted average remaining lease term (years):
Operating leases	8.9
Finance leases	10.2
Weighted average discount rate:
Operating leases	4.0	%
Finance leases	5.3	%

Future minimum lease payments under non-cancellable leases as of March 31, 2020 were as follows:



	Operating leases			Finance leases
2020 (remainder of the year)	$	344,537		$	30,291
2021	505,417			34,177
2022	472,643			34,621
2023	426,485			34,700
2024	372,190			34,725
2025	320,079			34,549
Thereafter	1,248,317			153,800
Total future minimum lease payments	$	3,689,668		$	356,863
Less portion representing interest	(599,265		)	(81,771		)
Present value of lease liabilities	$	3,090,403		$	275,092