LEASES

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

LEASES

During the three months March 31, 2022 and 2021, the Company incurred operating lease expenses of $7.3 million and $7.5 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). As of March 31, 2022, the weighted-average remaining lease term was 6.9 years and the weighted-average discount rate was 5.09%.

Operating leases mature as follows (in thousands):

Fiscal Year Ended December 31,	Minimum Payments
2022	$	19,872
2023	20,992
2024	15,416
2025	12,682
2026	9,697
Thereafter	34,371
Total lease payments	$	113,030
Less: Interest	(18,862)
Present value of lease liabilities	$	94,168

During the three months March 31, 2022, the Company commenced new leases, extensions and amendments, resulting in non-cash operating activities in the unaudited condensed consolidated statements of cash flow of $3.8 million related to increases in the operating lease right-of-use asset and operating lease liabilities, respectively. As of March 31, 2022, the Company did not have any significant operating or financing leases that had not yet commenced.

Leases

LEASES

During the three months March 31, 2022 and 2021, the Company incurred operating lease expenses of $7.3 million and $7.5 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). As of March 31, 2022, the weighted-average remaining lease term was 6.9 years and the weighted-average discount rate was 5.09%.

Operating leases mature as follows (in thousands):

Fiscal Year Ended December 31,	Minimum Payments
2022	$	19,872
2023	20,992
2024	15,416
2025	12,682
2026	9,697
Thereafter	34,371
Total lease payments	$	113,030
Less: Interest	(18,862)
Present value of lease liabilities	$	94,168

During the three months March 31, 2022, the Company commenced new leases, extensions and amendments, resulting in non-cash operating activities in the unaudited condensed consolidated statements of cash flow of $3.8 million related to increases in the operating lease right-of-use asset and operating lease liabilities, respectively. As of March 31, 2022, the Company did not have any significant operating or financing leases that had not yet commenced.