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Leases (Tables)
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Summary of Components of Lease Expense

The components of lease expense were as follows (in thousands):

 

 

 

Year Ended

 

 

Year Ended

 

 

 

December 31, 2020

 

 

December 31, 2019

 

Operating lease cost

 

$

16,188

 

 

$

15,005

 

Short-term lease cost

 

 

330

 

 

 

498

 

Variable lease cost

 

 

1,871

 

 

 

5,318

 

Sublease income

 

 

(256

)

 

 

(205

)

Total lease cost

 

$

18,133

 

 

$

20,616

 

Summary of Additional Lease Information

Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):

 

 

 

Year Ended

 

 

Year Ended

 

 

 

December 31, 2020

 

 

December 31, 2019

 

Cash paid for amounts included in the measurement of

   operating lease liabilities

 

$

10,577

 

 

$

10,953

 

Operating ROU assets obtained in exchange for

    lease obligations

 

$

12,200

 

 

$

18,497

 

Weighted-average remaining lease term - operating

   leases (years)

 

 

6.4

 

 

 

6.4

 

Weighted-average discount rate - operating leases

 

 

4.6

%

 

 

5.1

%

Summary of Future Minimum Lease Payments Under Non-Cancellable Leases

Future minimum lease payments under non-cancellable leases as of December 31, 2020 are as follows (in thousands):

 

2021

 

$

15,425

 

2022

 

 

15,468

 

2023

 

 

15,070

 

2024

 

 

14,687

 

2025

 

 

12,700

 

Thereafter

 

 

21,109

 

Total lease payments

 

 

94,459

 

Less imputed interest

 

 

(12,164

)

Present value of lease liabilities

 

$

82,295

 

Summary of Lease Balances

Lease balances are as follows (in thousands):

 

 

 

As of

 

 

December 31, 2020

 

Operating lease ROU assets

 

$

69,296

 

 

 

 

 

 

Short-term operating lease liabilities (1)

 

$

11,972

 

Non-current operating lease liabilities

 

 

70,323

 

Total operating lease liabilities

 

$

82,295

 

(1)

Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.