Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.24.0.1
Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of components of lease expense and revenue

The components of lease expense were as follows (in thousands):

    

Year Ended

    

Year Ended

    

Year Ended

 

December 31, 2023

 

December 31, 2022

 

December 31, 2021

Operating lease expense

$

54,290

$

47,558

$

17,534

Variable lease expense

25,364

29,886

12,414

Short-term lease expense

36,853

38,476

6,421

Schedule of lease balances

Lease balances were as follows (in thousands):

    

Balance Sheet location

    

December 31, 2023

December 31, 2022

Operating leases

 

  

 

  

  

Right-of-use assets

 

Other long-term assets

$

753,652

$

707,086

Current operating lease liabilities

 

Accrued expenses and other liabilities

23,226

39,689

Non-current operating lease liabilities

 

Other long-term liabilities

644,646

588,064

Supplemental information related to leases

Supplemental cash flow and non-cash information related to leases was as follows (in thousands):

Year Ended

    

Year Ended

    

Year Ended

December 31, 2023

 

December 31, 2022

 

December 31, 2021

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash outflows from operating leases

$

122,499

$

47,828

$

31,385

Right-of-use assets obtained in exchange for lease obligations:

Operating leases

77,954

(76,173)

506,761

The right-of-use assets obtained in exchange for lease obligations for the year ended December 31, 2022 decreased primarily related to a modification of a port facility agreement.

Other supplemental information related to leases was as follows:

Year Ended

    

Year Ended

    

Year Ended

    

December 31, 2023

 

December 31, 2022

 

December 31, 2021

 

Weighted average remaining lease term (years) - operating leases

 

22.68

 

22.90

 

24.28

Weighted average discount rate - operating leases

7.92

%  

7.33

%  

5.41

%  

Maturities of operating lease liabilities

As of December 31, 2023, maturities of lease liabilities were as follows (in thousands):

Operating

    

leases

2024

$

73,103

2025

 

72,433

2026

 

75,885

2027

 

69,936

2028

 

67,166

Thereafter

 

1,152,215

Total

 

1,510,738

Less: Present value discount

 

(842,866)

Present value of lease liabilities

$

667,872

Maturities of sales-type lease receivable

Sales-type

    

lease

2024

$

2,482

2025

 

2,482

2026

 

2,482

2027

 

2,482

2028

 

2,482

Thereafter

 

28,032

Total

$

40,442