LEASES |
LEASES Right-of-Use Assets and Operating Lease Liabilities
Amounts reported in the condensed consolidated balance sheets were: | | | | | | | | | | | | | June 30, 2022 | | December 31, 2021 | | (in thousands) | Assets: | | | | Right-of-use assets | $ | 236,077 | | | $ | 160,768 | | Liabilities: | | | | Current operating lease liabilities | $ | 49,983 | | | $ | 42,932 | | Long-term operating lease liabilities | 217,586 | | | 149,237 | | Total operating lease liabilities | $ | 267,569 | | | $ | 192,169 | |
Lease Costs and Other Information
Lease-related costs reported within ‘Cost of sales’ and ‘Selling, general and administrative expenses’ in our condensed consolidated statements of operations were: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2022 | | 2021 | | 2022 | | 2021 | | (in thousands) | Operating lease cost | $ | 16,656 | | | $ | 14,926 | | | $ | 30,887 | | | $ | 29,758 | | Short-term lease cost | 2,371 | | | 1,963 | | | 5,003 | | | 3,404 | | Variable lease cost | 12,013 | | | 10,659 | | | 16,565 | | | 14,307 | | Total lease costs | $ | 31,040 | | | $ | 27,548 | | | $ | 52,455 | | | $ | 47,469 | |
Other information related to leases, including supplemental cash flow information, consists of: | | | | | | | | | | | | | Six Months Ended June 30, | | 2022 | | 2021 | | (in thousands) | Cash paid for operating leases | $ | 29,411 | | | $ | 31,910 | | Right-of-use assets obtained in exchange for operating lease liabilities | 52,837 | | | 43,582 | |
The weighted average remaining lease term and discount rate related to our lease liabilities as of June 30, 2022 were 7.5 years and 3.6%, respectively. As of June 30, 2021, the weighted average remaining lease term and discount rate related to our lease liabilities were 7.3 years and 3.9%, respectively.
Maturities
The maturities of our operating lease liabilities were: | | | | | | | As of June 30, 2022 | | (in thousands) | 2022 (remainder of year) | $ | 25,568 | | 2023 | 54,625 | | 2024 | 40,768 | | 2025 | 29,934 | | 2026 | 27,413 | | Thereafter | 130,510 | | Total future minimum lease payments | 308,818 | | Less: imputed interest | (41,249) | | Total operating lease liabilities | $ | 267,569 | |
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