Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.21.2
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 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 June 30, Six Months Ended June 30,
2021 2020 2021 2020
Finance lease cost:
Amortization of right-of-use assets $ 3,200  $ 2,279  $ 6,399  $ 4,936 
Interest on lease liabilities 236  207  507  424 
Operating lease cost 6,706  3,032  12,923  6,158 
Short-term lease cost 1,243  119  1,647  239 
Variable lease cost 1,743  971  3,361  1,781 
Sublease income (202) (212) (397) (372)
Total lease cost $ 12,926  $ 6,396  $ 24,440  $ 13,166 
Other information related to leases was as follows (dollars in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2021 2020 2021 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases $ 6,845  $ 2,924  $ 13,585  $ 5,499 
Operating cash flows from finance leases 234  195  503  416 
Financing cash flows from finance leases 3,050  2,591  6,137  5,545 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases 19,546  —  19,859  32 
Finance leases 2,074  33  3,164  213 
Weighted average remaining lease term (years):
Operating leases 6.74 4.83 6.74 4.83
Finance leases 2.84 2.48 2.84 2.48
Weighted average discount rate:
Operating leases 4.1  % 5.5  % 4.1  % 5.5  %
Finance leases 4.5  % 4.2  % 4.5  % 4.2  %
Future Minimum Lease Payments Under Non-Cancellable Leases Future minimum lease commitments under non-cancellable leases as of June 30, 2021 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance Leases
2021 $ 26,648  $ 1,014  $ 25,634  $ 11,299 
2022 22,855  1,151  21,704  7,550 
2023 19,949  758  19,191  2,612 
2024 14,415  185  14,230  459 
2025 12,817  —  12,817  — 
Thereafter 34,422  —  34,422  — 
Total future lease payments 131,106  3,108  127,998  21,920 
Less: Amount representing interest 15,691  —  15,691  1,013 
Present value of future payments 115,415  3,108  112,307  20,907 
Less: Tenant incentives —  —  —  — 
Net present value of future payments 115,415  3,108  112,307  20,907 
Less: Current portion 22,493  —  22,493  10,612 
Long-term portion $ 92,922  $ 3,108  $ 89,814  $ 10,295 
Future Minimum Lease Payments Under Non-Cancellable Leases Future minimum lease commitments under non-cancellable leases as of June 30, 2021 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance Leases
2021 $ 26,648  $ 1,014  $ 25,634  $ 11,299 
2022 22,855  1,151  21,704  7,550 
2023 19,949  758  19,191  2,612 
2024 14,415  185  14,230  459 
2025 12,817  —  12,817  — 
Thereafter 34,422  —  34,422  — 
Total future lease payments 131,106  3,108  127,998  21,920 
Less: Amount representing interest 15,691  —  15,691  1,013 
Present value of future payments 115,415  3,108  112,307  20,907 
Less: Tenant incentives —  —  —  — 
Net present value of future payments 115,415  3,108  112,307  20,907 
Less: Current portion 22,493  —  22,493  10,612 
Long-term portion $ 92,922  $ 3,108  $ 89,814  $ 10,295