Leases (Tables)
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9 Months Ended |
Sep. 30, 2019 |
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| Leases [Abstract] |
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| Lease Expense and Supplemental Cash Flow Information |
The components of lease cost during the three and nine months ended September 30, 2019 were as follows:
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Three months ended |
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Nine months ended |
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September 30, 2019 |
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September 30, 2019 |
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amounts in thousands |
Operating lease cost (1) |
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$ |
12,806 |
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|
33,515 |
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Finance lease cost |
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Depreciation of leased assets |
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$ |
722 |
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|
4,321 |
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Interest on lease liabilities |
|
91 |
|
|
908 |
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Total finance lease cost |
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$ |
813 |
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|
5,229 |
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(1) Included within operating lease costs were short-term lease costs and variable lease costs, which were not material to the financial statements.
The remaining weighted-average lease term and the weighted average discount rate were as follows:
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Nine months ended |
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September 30, 2019 |
Weighted-average remaining lease term (years): |
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Finance leases |
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3.6 |
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Operating leases |
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4.9 |
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Weighted-average discount rate: |
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Finance leases |
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5.1 |
% |
Operating leases |
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5.0 |
% |
Supplemental cash flow information related to leases was as follows:
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Nine months ended |
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September 30, 2019 |
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amounts in thousands |
Cash paid for amounts included in the measurement of lease liabilities: |
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Operating cash flows from operating leases |
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$ |
33,710 |
|
Operating cash flows from finance leases |
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$ |
983 |
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Financing cash flows from finance leases |
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$ |
6,405 |
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ROU assets obtained in exchange for lease obligations |
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Operating leases |
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$ |
39,178 |
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Finance leases |
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$ |
— |
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| Supplemental Balance Sheet Information |
Supplemental balance sheet information related to leases was as follows:
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September 30, |
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|
2019 |
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amounts in thousands |
Operating leases: |
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Operating lease ROU assets, net (1) |
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$ |
132,769 |
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Current operating lease liabilities (2) |
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$ |
40,638 |
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Operating lease liabilities (3) |
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88,931 |
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Total operating lease liabilities |
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$ |
129,569 |
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Finance Leases: |
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Property and equipment, at cost |
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$ |
18,102 |
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Accumulated depreciation |
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(4,574 |
) |
Property and equipment, net |
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$ |
13,528 |
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Current obligations under finance leases (4) |
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$ |
4,894 |
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Obligations under finance leases |
|
8,614 |
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Total finance lease liabilities |
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$ |
13,508 |
|
(1) Operating lease ROU assets, net are included within the other assets, net line item in the accompanying condensed consolidated balance sheets.
(2) Current operating lease liabilities are included within the other current liabilities line item in the accompanying condensed consolidated balance sheets.
(3) Operating lease liabilities are included within the other liabilities line item in the accompanying condensed consolidated balance sheets.
(4) Current obligations under finance leases are included within the other current liabilities line item in the accompanying condensed consolidated balance sheets.
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| Future Lease Payments on Finance Leases |
Future lease payments under finance leases, operating leases and tower obligations with initial terms of one year or more at September 30, 2019 consisted of the following:
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Finance Leases |
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Operating Leases |
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Tower Obligations |
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amounts in thousands |
Remainder of 2019 |
$ |
1,373 |
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|
12,059 |
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|
1,932 |
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2020 |
5,491 |
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44,512 |
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7,797 |
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2021 |
4,076 |
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35,435 |
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7,953 |
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2022 |
1,973 |
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21,683 |
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|
8,112 |
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2023 |
678 |
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|
14,552 |
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|
8,274 |
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Thereafter |
1,734 |
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|
23,185 |
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|
142,825 |
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Total lease payments |
15,325 |
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|
151,426 |
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|
176,893 |
|
Less: imputed interest |
(1,817 |
) |
|
(21,857 |
) |
|
(85,247 |
) |
Total lease liabilities |
$ |
13,508 |
|
|
129,569 |
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|
91,646 |
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| Future Lease Payments on Operating Leases |
Future lease payments under finance leases, operating leases and tower obligations with initial terms of one year or more at September 30, 2019 consisted of the following:
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Finance Leases |
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Operating Leases |
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Tower Obligations |
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amounts in thousands |
Remainder of 2019 |
$ |
1,373 |
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|
12,059 |
|
|
1,932 |
|
2020 |
5,491 |
|
|
44,512 |
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|
7,797 |
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2021 |
4,076 |
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|
35,435 |
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|
7,953 |
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2022 |
1,973 |
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|
21,683 |
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|
8,112 |
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2023 |
678 |
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|
14,552 |
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|
8,274 |
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Thereafter |
1,734 |
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|
23,185 |
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|
142,825 |
|
Total lease payments |
15,325 |
|
|
151,426 |
|
|
176,893 |
|
Less: imputed interest |
(1,817 |
) |
|
(21,857 |
) |
|
(85,247 |
) |
Total lease liabilities |
$ |
13,508 |
|
|
129,569 |
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|
91,646 |
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| Future Lease Payments on Tower Obligation |
Future lease payments under finance leases, operating leases and tower obligations with initial terms of one year or more at September 30, 2019 consisted of the following:
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Finance Leases |
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Operating Leases |
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Tower Obligations |
|
amounts in thousands |
Remainder of 2019 |
$ |
1,373 |
|
|
12,059 |
|
|
1,932 |
|
2020 |
5,491 |
|
|
44,512 |
|
|
7,797 |
|
2021 |
4,076 |
|
|
35,435 |
|
|
7,953 |
|
2022 |
1,973 |
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|
21,683 |
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|
8,112 |
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2023 |
678 |
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|
14,552 |
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|
8,274 |
|
Thereafter |
1,734 |
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|
23,185 |
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|
142,825 |
|
Total lease payments |
15,325 |
|
|
151,426 |
|
|
176,893 |
|
Less: imputed interest |
(1,817 |
) |
|
(21,857 |
) |
|
(85,247 |
) |
Total lease liabilities |
$ |
13,508 |
|
|
129,569 |
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|
91,646 |
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