LEASES

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Leases

LEASES

During the three and six months ended June 30, 2021, the Company incurred operating lease expenses of $6.9 million and $14.5 million, respectively, including short-term lease expense, which were included as a component of selling, general and administrative expense in the unaudited condensed consolidated statements of comprehensive income (loss). During the three and six months ended June 30, 2020, the Company incurred operating lease expense of $7.6 million and $15.3 million, respectively, including short-term lease expenses, which were included as a component of selling, general and administrative expenses in the unaudited condensed consolidated statements of comprehensive income (loss). As of June 30, 2021, the weighted-average remaining lease term was 6.5 years and the weighted-average discount rate was 5.24%.

Operating leases mature as follows (in thousands):

Fiscal Year Ending December 31,	Minimum Payments
2021	$	13,669
2022	20,344
2023	16,921
2024	11,697
2025	9,290
Thereafter	31,886
Total lease payments	$	103,807
Less: Interest	15,677
Present value of lease liabilities	$	88,130

During the three and six months ended June 30, 2020, the Company did not enter into any significant new operating or financing leases. During the three and six months ended June 30, 2021, the Company commenced new leases, extensions and amendments, resulting in non-cash investing and financing activities in the unaudited condensed consolidated statements of cash flow of $5.7 million related to increases in the operating lease right-of-use asset and operating lease liabilities, respectively. As of June 30, 2021, the Company did not have any significant operating or financing leases that had not yet commenced.

Leases

LEASES

During the three and six months ended June 30, 2021, the Company incurred operating lease expenses of $6.9 million and $14.5 million, respectively, including short-term lease expense, which were included as a component of selling, general and administrative expense in the unaudited condensed consolidated statements of comprehensive income (loss). During the three and six months ended June 30, 2020, the Company incurred operating lease expense of $7.6 million and $15.3 million, respectively, including short-term lease expenses, which were included as a component of selling, general and administrative expenses in the unaudited condensed consolidated statements of comprehensive income (loss). As of June 30, 2021, the weighted-average remaining lease term was 6.5 years and the weighted-average discount rate was 5.24%.

Operating leases mature as follows (in thousands):

Fiscal Year Ending December 31,	Minimum Payments
2021	$	13,669
2022	20,344
2023	16,921
2024	11,697
2025	9,290
Thereafter	31,886
Total lease payments	$	103,807
Less: Interest	15,677
Present value of lease liabilities	$	88,130

During the three and six months ended June 30, 2020, the Company did not enter into any significant new operating or financing leases. During the three and six months ended June 30, 2021, the Company commenced new leases, extensions and amendments, resulting in non-cash investing and financing activities in the unaudited condensed consolidated statements of cash flow of $5.7 million related to increases in the operating lease right-of-use asset and operating lease liabilities, respectively. As of June 30, 2021, the Company did not have any significant operating or financing leases that had not yet commenced.