Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.22.1
LEASES (Tables)
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Significant Components of Operating Lease Expense
The significant components of operating lease expense are as follows:
Three Months Ended
March 31,
2022 2021
(in thousands)
Operating lease cost $ 63,761  $ 55,299 
Variable and short-term lease cost 18,032  9,453 
Sublease income (970) (2,282)
Net lease cost $ 80,823  $ 62,470 
Supplemental Cash Flow Information for Operating Leases
Supplemental cash flow information for our operating leases is as follows:
Three Months Ended
March 31,
2022 2021
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities $ 66,232  $ 58,914 
Lease assets obtained in exchange for lease obligations, net of terminations $ 157,244  $ 6,771 
Lessee, Operating Lease, Liability, Maturity
Future maturities of our operating lease liabilities at March 31, 2022 are as follows:
(in thousands)
April 1 - December 31, 2022 $ 166,639 
2023 247,013 
2024 232,688 
2025 216,901 
2026 205,071 
Thereafter 1,689,663 
Total lease payments 2,757,975 
Less: Interest 910,315 
Present value of lease liabilities $ 1,847,660 
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:
March 31, 2022 December 31, 2021
Weighted average remaining lease term (in years) 13.8 13.2
Weighted average discount rate 5.94  % 6.10  %