COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

Leases

The Company leases office space and certain equipment under noncancelable operating leases. Leases have terms which range from one year to nine years, some of which include options to renew the lease. The exercise of a lease renewal option is at the Company’s sole discretion and is included in the lease term when it is reasonably certain the Company will exercise the option based on economic factors. The weighted average remaining lease term for operating leases as of December 31, 2020 was 3.2 years.

Operating lease costs for the years ended December 31, 2020, 2019 and 2018 was approximately $6.0 million, $5.8 million and $5.3 million, respectively. Operating lease costs include short-term and variable lease costs, which are not significant. The aggregate future lease payments for operating leases as of December 31, 2020 are as follows (in thousands):

	2020
Fiscal Year
2021	$	4,692
2022	3,638
2023	2,073
2024	1,345
2025	689
Total minimum lease payments	12,437
Less: interest	(1,187)
Total lease liabilities	$	11,250

Other information related to operating leases is as follows (in thousands):

	2020
Weighted-average discount rate	2.4		%
Supplement cash flow information
Cash paid for amounts included in the measurement of lease liabilities	$	4,328
Right of use assets obtained in exchange for new lease liabilities	$	4,429

Litigation

From time to time, the Company is involved in legal proceedings and litigation arising in the ordinary course of business. However, the Company is not currently a party to any material legal proceedings.