Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.21.2
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 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 September 30, Nine Months Ended September 30,
2021 2020 2021 2020
Finance lease cost:
Amortization of right-of-use assets $ 3,461  $ 2,151  $ 9,860  $ 7,087 
Interest on lease liabilities 235  173  742  597 
Operating lease cost 7,078  3,195  20,001  9,353 
Short-term lease cost 2,017  113  3,664  352 
Variable lease cost 1,800  1,176  5,161  2,957 
Sublease income (427) (202) (824) (574)
Total lease cost $ 14,164  $ 6,606  $ 38,604  $ 19,772 
Other information related to leases was as follows (dollars in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases $ 7,105  $ 3,430  $ 20,690  $ 8,929 
Operating cash flows from finance leases 234  161  737  578 
Financing cash flows from finance leases 3,106  2,217  9,243  7,763 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases 9,837  —  29,696  32 
Finance leases 6,260  879  9,424  1,092 
Weighted average remaining lease term (years):
Operating leases 6.37 4.88 6.37 4.88
Finance leases 2.40 2.33 2.40 2.33
Weighted average discount rate:
Operating leases 3.9  % 5.5  % 3.9  % 5.5  %
Finance leases 4.1  % 4.1  % 4.1  % 4.1  %
Future Minimum Lease Payments Under Non-Cancellable Leases Future minimum lease commitments under non-cancellable leases as of September 30, 2021 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance Leases
2021 $ 27,342  $ 2,671  $ 24,671  $ 11,799 
2022 24,159  3,291  20,868  7,621 
2023 19,781  2,363  17,418  3,587 
2024 15,853  939  14,914  1,525 
2025 13,728  —  13,728 
Thereafter 31,841  —  31,841 
Total future lease payments 132,704  9,264  123,440  24,548 
Less: Amount representing interest 15,232  —  15,232  976 
Present value of future payments 117,472  9,264  108,208  23,572 
Less: Current portion 23,181  2,671  20,510  11,163 
Long-term portion $ 94,291  $ 6,593  $ 87,698  $ 12,409 
Future Minimum Lease Payments Under Non-Cancellable Leases Future minimum lease commitments under non-cancellable leases as of September 30, 2021 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance Leases
2021 $ 27,342  $ 2,671  $ 24,671  $ 11,799 
2022 24,159  3,291  20,868  7,621 
2023 19,781  2,363  17,418  3,587 
2024 15,853  939  14,914  1,525 
2025 13,728  —  13,728 
Thereafter 31,841  —  31,841 
Total future lease payments 132,704  9,264  123,440  24,548 
Less: Amount representing interest 15,232  —  15,232  976 
Present value of future payments 117,472  9,264  108,208  23,572 
Less: Current portion 23,181  2,671  20,510  11,163 
Long-term portion $ 94,291  $ 6,593  $ 87,698  $ 12,409