Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Leases

v3.19.3.a.u2
Leases
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Leases Leases
We lease office space in several locations globally under operating lease arrangements, and in limited instances may enter into finance leases for flight equipment. Our leases have remaining lease terms of up to 18 years, and in some cases we have options to extend the lease terms for up to ten years. Our finance lease arrangements may be terminated prior to their original expiration date at our discretion.
As of December 31, 2019, operating lease ROU assets net of lease incentives included in other assets were $43.7 million, and operating lease liabilities included in accounts payable, accrued expenses and other liabilities were $51.1 million. Finance lease liabilities included in debt were $136.2 million.
As of December 31, 2019, supplemental balance sheet information related to leases was as follows:
 
Operating leases
 
Finance leases
Weighted average remaining lease term (years)
9.0

 
16.3

Weighted average discount rate
6.4
%
 
6.5
%


As of December 31, 2019, maturities of operating and finance lease liabilities were as follows:
 
Operating leases
 
Finance leases
2020
$
9,113

 
$
11,677

2021
8,337

 
11,677

2022
8,406

 
11,677

2023
8,468

 
11,677

2024
6,358

 
11,677

Thereafter
27,663

 
188,682

Total lease payments
$
68,345

 
$
247,067

Less imputed interest
(17,201
)
 
(110,839
)
Present value of lease liabilities
$
51,144

 
$
136,228

As of December 31, 2018, maturities of operating and finance lease liabilities were as follows:
 
Operating leases
 
Finance leases
2019
$
9,181

 
$
2,359

2020
9,305

 
2,515

2021
9,201

 
2,681

2022
9,262

 
2,857

2023
9,337

 
3,046

Thereafter
35,243

 
105,327

Total lease payments
$
81,529

 
$
118,785


Leases Leases
We lease office space in several locations globally under operating lease arrangements, and in limited instances may enter into finance leases for flight equipment. Our leases have remaining lease terms of up to 18 years, and in some cases we have options to extend the lease terms for up to ten years. Our finance lease arrangements may be terminated prior to their original expiration date at our discretion.
As of December 31, 2019, operating lease ROU assets net of lease incentives included in other assets were $43.7 million, and operating lease liabilities included in accounts payable, accrued expenses and other liabilities were $51.1 million. Finance lease liabilities included in debt were $136.2 million.
As of December 31, 2019, supplemental balance sheet information related to leases was as follows:
 
Operating leases
 
Finance leases
Weighted average remaining lease term (years)
9.0

 
16.3

Weighted average discount rate
6.4
%
 
6.5
%


As of December 31, 2019, maturities of operating and finance lease liabilities were as follows:
 
Operating leases
 
Finance leases
2020
$
9,113

 
$
11,677

2021
8,337

 
11,677

2022
8,406

 
11,677

2023
8,468

 
11,677

2024
6,358

 
11,677

Thereafter
27,663

 
188,682

Total lease payments
$
68,345

 
$
247,067

Less imputed interest
(17,201
)
 
(110,839
)
Present value of lease liabilities
$
51,144

 
$
136,228

As of December 31, 2018, maturities of operating and finance lease liabilities were as follows:
 
Operating leases
 
Finance leases
2019
$
9,181

 
$
2,359

2020
9,305

 
2,515

2021
9,201

 
2,681

2022
9,262

 
2,857

2023
9,337

 
3,046

Thereafter
35,243

 
105,327

Total lease payments
$
81,529

 
$
118,785