Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.21.2
LEASES (Tables)
 9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Significant Components of Operating Lease Expense The significant components of operating lease expense are as follows:
Three Months Ended
September 30,		 Nine Months Ended
September 30,
2021 2020 2021 2020
(in thousands)
Operating lease cost $ 56,662  $ 59,923  $ 168,538  $ 180,478 
Variable and short-term lease cost 44,552  10,545  57,548  43,275 
Sublease income (1,346) (3,682) (4,864) (11,944)
Net lease cost $ 99,868  $ 66,786  $ 221,222  $ 211,809 
Supplemental Cash Flow Information for Operating Leases Supplemental cash flow information for our operating leases is as follows:
Nine Months Ended
September 30,
2021 2020
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities $ 142,243  $ 154,471 
Lease assets obtained in exchange for lease obligations, net of terminations $ 79,703  $ 149,817 
Lessee, Operating Lease, Liability, Maturity
Future maturities of our operating lease liabilities at September 30, 2021 are as follows:
(in thousands)
October 1 - December 31, 2021 $ 39,264 
2022 207,883 
2023 210,108 
2024 193,320 
2025 181,720 
Thereafter 1,543,848 
Total lease payments 2,376,143 
Less: Interest 816,783 
Present value of lease liabilities $ 1,559,360 
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:
September 30, 2021 December 31, 2020
Weighted average remaining lease term (in years) 13.5 13.9
Weighted average discount rate 6.36  % 6.31  %