Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.21.1
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Lease Expense and Other Information Related to Leases
The components of lease expense were as follows (in thousands):
Three Months Ended March 31,
2021 2020
Finance lease cost:
Amortization of right-of-use assets $ 3,198  $ 2,657 
Interest on lease liabilities 271  217 
Operating lease cost 3,010  3,126 
Short-term lease cost 3,528  120 
Variable lease cost 1,618  810 
Sublease income (195) (160)
Total lease cost $ 11,430  $ 6,770 
Other information related to leases was as follows (dollars in thousands):
Three Months Ended March 31,
2021 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases $ 6,740  $ 2,575 
Operating cash flows from finance leases 268  221 
Financing cash flows from finance leases 3,087  2,953 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases 313  32 
Finance leases 1,090  180 
Weighted average remaining lease term (years):
Operating leases 7.15 4.99
Finance leases 2.38 2.70
Weighted average discount rate:
Operating leases 4.2  % 5.5  %
Finance leases 4.7  % 4.2  %
Future Minimum Lease Payments Under Non-Cancellable Leases
Future minimum lease commitments under non-cancellable leases as of March 31, 2021 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance Leases
2021 $ 24,383  $ 485  $ 23,898  $ 11,436 
2022 19,218  23  19,195  7,936 
2023 16,605  —  16,605  2,997 
2024 11,070  —  11,070  667 
2025 9,522  —  9,522 
Thereafter 35,951  —  35,951  — 
Total future lease payments 116,749  508  116,241  23,037 
Less: Amount representing interest 15,054  —  15,054  1,145 
Present value of future payments 101,695  508  101,187  21,892 
Less: Tenant incentives —  —  —  — 
Net present value of future payments 101,695  508  101,187  21,892 
Less: Current portion 20,613  —  20,613  10,707 
Long-term portion $ 81,082  $ 508  $ 80,574  $ 11,185 
Future Minimum Lease Payments Under Non-Cancellable Leases
Future minimum lease commitments under non-cancellable leases as of March 31, 2021 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance Leases
2021 $ 24,383  $ 485  $ 23,898  $ 11,436 
2022 19,218  23  19,195  7,936 
2023 16,605  —  16,605  2,997 
2024 11,070  —  11,070  667 
2025 9,522  —  9,522 
Thereafter 35,951  —  35,951  — 
Total future lease payments 116,749  508  116,241  23,037 
Less: Amount representing interest 15,054  —  15,054  1,145 
Present value of future payments 101,695  508  101,187  21,892 
Less: Tenant incentives —  —  —  — 
Net present value of future payments 101,695  508  101,187  21,892 
Less: Current portion 20,613  —  20,613  10,707 
Long-term portion $ 81,082  $ 508  $ 80,574  $ 11,185