Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.20.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Significant Components of Operating Lease Expense
The significant components of operating lease expense are as follows:
Three Months Ended
June 30,		 Six Months Ended
June 30,
2020 2019 2020 2019
(in thousands)
Operating lease cost $ 58,427    $ 49,110    $ 120,555    $ 95,839   
Variable and short-term lease cost 20,208    34,064    32,730    47,829   
Sublease income (4,111)   (4,888)   (8,262)   (8,629)  
Net lease cost $ 74,524    $ 78,286    $ 145,023    $ 135,039   
Supplemental Cash Flow Information for Operating Leases
Supplemental cash flow information for our operating leases is as follows:
Six Months Ended
June 30,
2020 2019
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities $ 105,067    $ 94,562   
Lease assets obtained in exchange for lease obligations, net of terminations $ 98,052    $ 128,175   
Future Maturities of Operating Leases
Future maturities of our operating lease liabilities at June 30, 2020 are as follows:
(in thousands)
July 1 - December 31, 2020 $ 92,241   
2021 197,323   
2022 191,701   
2023 188,152   
2024 170,834   
Thereafter 1,501,426   
Total lease payments 2,341,677   
Less: Interest 810,014   
Present value of lease liabilities $ 1,531,663   
Operating Leases Weighted Average Remaining Lease Term and Discount Rate
The weighted average remaining lease term and weighted average discount rate for our operating leases are as follows:
June 30,
2020 2019
Weighted average remaining lease term (in years) 14.0 13.5
Weighted average discount rate 6.05  % 5.75  %