Leases

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

5. Leases

As of March 31, 2022, the weighted average remaining lease term was 8.0 and 3.5 years for operating and finance leases, respectively. As of March 31, 2022, the weighted average discount rate was 3.7% and 3.8% for operating and finance leases, respectively.

The components of lease expense were as follows (U.S. dollars in thousands):

	Three Months Ended March 31,
	2022		2021
Operating lease expense
Operating lease cost	$	10,439	$	12,815
Variable lease cost		1,157		1,368
Short-term lease cost		30		339
Sublease income		—		(1,984	)
Finance lease expense
Amortization of right-of-use assets		556		611
Interest on lease liabilities		66		88
Total lease expense	$	12,248	$	13,237

Supplemental cash flow information related to leases was as follows (U.S. dollars in thousands):

	Three Months Ended March 31,
	2022		2021
Operating cash outflow from operating leases	$	10,405	$	14,149
Operating cash outflow from finance leases	$	68	$	89
Financing cash outflow from finance leases	$	476	$	483
Right-of-use assets obtained in exchange for operating lease obligations	$	23,730	$	10,891
Right-of-use assets obtained in exchange for finance lease obligations	$	—	$	49

Maturities of lease liabilities were as follows (U.S. dollars in thousands):

Year Ending December 31	Operating Leases		Finance Leases
2022	$	28,595	$	1,578
2023		28,298		2,032
2024		21,657		1,924
2025		15,507		1,361
2026		8,559		260
Thereafter		49,766		—
Total		152,382		7,155
Less: Finance charges		19,577		473
Total principal liability	$	132,805	$	6,682

The Company has additional lease liabilities of $0.1 million which have not yet commenced as of March 31, 2022, and as such, have not been recognized on the consolidated balance sheets.