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Leases, Contingencies, and Subsequent Event (Tables)
3 Months Ended
Mar. 31, 2021
Lessee Disclosure [Abstract]  
Summary of Maturities of Operating Lease Liabilities

As of March 31, 2021, operating lease assets were $25.2 million and operating lease liabilities were $29.5 million. The maturities of the Company’s operating lease liabilities as of March 31, 2021 were as follows:

 

 

 

Minimum Lease

 

Years Ending December 31:

 

Payments

 

2021 (April 1 – December 31)

 

$

3,494

 

2022

 

 

4,605

 

2023

 

 

4,257

 

2024

 

 

4,253

 

2025

 

 

3,464

 

Thereafter

 

 

14,296

 

Total future minimum lease payments

 

$

34,369

 

Less imputed interest

 

 

4,820

 

Total operating lease liabilities

 

$

29,549

 

 

Included in the Consolidated Balance Sheet:

 

 

 

 

Current operating lease liabilities

 

$

3,557

 

Non-current operating lease liabilities

 

 

25,992

 

Total operating lease liabilities

 

$

29,549

 

Summary of Lease Costs

For the three months ended March 31, 2021 and 2020, the total lease cost was comprised of the following amounts:

 

 

Three Months Ended

March 31,

 

 

 

2021

 

2020

 

Operating lease expense

 

$

1,142

 

$

947

 

Short-term lease expense

 

 

76

 

 

28

 

Total lease expense

 

$

1,218

 

$

975

 

Lessee Operating Lease Term and Discount Rate

The following summarizes additional information related to operating leases:

 

 

As of

 

 

 

March 31, 2021

 

Weighted-average remaining lease term — operating leases

 

 

4.6

 

Weighted-average discount rate — operating leases

 

 

4

%