| Operating Leases |
The Company has operating leases for all of its facilities and autos. As of December 31, 2020 and 2019, operating lease ROU assets were $126.9 million and $111.1 million, respectively, and the related accumulated amortization was $42.9 million and $20.6 million, respectively. The operating lease cost, included in selling, general and administrative expense in the consolidated statement of net and comprehensive income, consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| |
|
$ |
25,508 |
|
|
$ |
24,372 |
|
| |
|
|
5,438 |
|
|
|
5,305 |
|
| |
|
|
(246 |
) |
|
|
(305 |
) |
| |
|
|
|
|
|
|
|
|
| |
|
$ |
30,700 |
|
|
$ |
29,372 |
|
| |
|
|
|
|
|
|
|
|
(1) |
Includes short-term lease cost and ROU asset amortization. |
|
Primarily relates to common area maintenance, property taxes, insurance, utilities and parking. | Maturities of lease liabilities by year consisted of the following (in thousands):
|
|
|
|
|
| |
|
|
|
| |
|
$ |
22,970 |
|
| |
|
|
17,609 |
|
| |
|
|
13,804 |
|
| |
|
|
11,575 |
|
| |
|
|
9,363 |
|
| |
|
|
9,202 |
|
| |
|
|
|
|
Total future minimum lease payments |
|
|
84,523 |
|
| |
|
|
(5,925 |
) |
| |
|
|
|
|
Present value of operating lease liabilities |
|
$ |
78,598 |
|
| |
|
|
|
| Supplemental cash flow information and noncash activity related to the operating leases consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
Operating cash flow information: |
|
|
|
|
|
|
|
|
Cash paid for amounts included in the measurement of operating lease liabilities |
|
$ |
21,131 |
|
|
$ |
20,266 |
|
| |
|
|
|
|
|
|
|
|
ROU assets obtained in exchange for operating lease liabilities |
|
$ |
16,293 |
|
|
$ |
21,548 |
|
Tenant improvements owned by lessor related to ROU assets (1)
|
|
$ |
971 |
|
|
$ |
5,952 |
|
|
Reclassification from other assets current. | Other information related to the operating leases consisted of the following:
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
Weighted average remaining operating lease term |
|
|
4.70 years |
|
|
|
5.04 years |
|
Weighted average discount rate |
|
|
3.1 |
% |
|
|
3.8 |
% |
|