Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.4
Leases (Tables)
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Summary of Operating Lease Cost and Other Information

Operating lease cost and other information:

 

 

 

Year Ended December 31,

 

(in thousands)

 

2020

 

 

2019

 

Fixed lease cost

 

$

266,105

 

 

$

246,296

 

Variable lease cost

 

 

3,455

 

 

 

13,104

 

Operating cash flows used for leases

 

 

257,775

 

 

 

264,424

 

ROU assets exchanged for lease liabilities upon adoption of ASC 842

 

 

 

 

 

1,035,062

 

ROU assets exchanged for lease liabilities

 

 

318,713

 

 

 

122,078

 

Weighted-average remaining lease term

 

4.31 years

 

 

4.66 years

 

Weighted-average discount rate

 

 

3.67

%

 

 

4.20

%

Summary of Future Lease Payments

The following table presents future lease payments as of December 31, 2020:

 

Year (in thousands)

 

Operating Leases

 

2021

 

$

254,674

 

2022

 

 

226,841

 

2023

 

 

202,515

 

2024

 

 

186,135

 

2025

 

 

167,501

 

Thereafter

 

 

400,261

 

Total lease payments

 

$

1,437,927

 

      Less: Imputed interest

 

 

(168,488

)

Operating lease liabilities

 

$

1,269,439