Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.21.2
LEASES (Tables)
 6 Months Ended
Jun. 30, 2021
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,
2021 2020 2021 2020
(in thousands)
Operating lease cost $ 56,577  $ 58,427  $ 111,876  $ 120,555 
Variable and short-term lease cost 3,543  20,208  12,996  32,730 
Sublease income (1,236) (4,111) (3,518) (8,262)
Net lease cost $ 58,884  $ 74,524  $ 121,354  $ 145,023 
Supplemental Cash Flow Information for Operating Leases Supplemental cash flow information for our operating leases is as follows:
Six Months Ended
June 30,
2021 2020
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities $ 99,449  $ 105,067 
Lease assets obtained in exchange for lease obligations, net of terminations $ 41,005  $ 98,052 
Lessee, Operating Lease, Liability, Maturity
Future maturities of our operating lease liabilities at June 30, 2021 are as follows:
(in thousands)
July 1 - December 31, 2021 $ 91,363 
2022 204,175 
2023 204,889 
2024 188,541 
2025 176,893 
Thereafter 1,503,232 
Total lease payments 2,369,093 
Less: Interest 826,214 
Present value of lease liabilities $ 1,542,879 
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, 2021 December 31, 2020
Weighted average remaining lease term (in years) 13.7 13.9
Weighted average discount rate 6.39  % 6.31  %