Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.19.3.a.u2
Leases (Tables)
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Summary of Future Minimum Obligations under Operating Leases Adoption of ASU 842

The future minimum obligations under operating leases in effect as of December 31, 2019 having a noncancelable term in excess of one year as determined prior to the adoption of ASU 842 are as follows (in thousands):

 

 

December 31, 2019

 

2020

 

$

236,604

 

2021

 

 

211,466

 

2022

 

 

182,833

 

2023

 

 

164,467

 

2024

 

 

152,823

 

Thereafter

 

 

439,766

 

Total lease payments

 

 

1,387,959

 

Less: Imputed interest

 

 

(230,819

)

 

 

$

1,157,140

 

 

 

 

 

 

Summary of Operating Lease Cost and Other Information

Operating lease cost and other information (in thousands):

 

 

 

Year ended

 

 

 

December 31, 2019

 

Fixed lease cost

 

$

246,296

 

Variable lease cost

 

 

13,104

 

Operating cash flows used for leases

 

 

264,424

 

Noncash right-of-use assets recorded for lease liabilities:

 

 

 

 

For January 1 adoption of Topic 842

 

 

1,035,062

 

In exchange for new lease liabilities during the period

 

 

122,078

 

Weighted-average remaining lease term

 

4.66 years

 

Weighted-average discount rate

 

4.20%