Leases |
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Mar. 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases |
9. LEASES The Company has entered into operating leases primarily for office real estate. The leases have remaining terms ranging from two to ten years and may include options to extend or terminate the lease. The depreciable life of ROU assets is limited by the expected lease term. The components of lease expense are as follows (in thousands):
(1) Operating lease cost is presented net of sublease income. The Company had no sublease income for the three months ended March 31, 2021. Sublease income for the three months ended March 31, 2020 was not material. Supplemental cash flow information related to leases is as follows (in thousands):
Supplemental balance sheet information related to leases is as follows (in thousands, except lease term and discount rate):
Future lease payments under operating leases as of March 31, 2021 are as follows (in thousands):
As of March 31, 2021, the Company’s commitment relating to operating leases that have not yet commenced was $42.4 million. These operating leases will commence in fiscal year 2021 with lease terms of two to eleven years. |