Leases (Tables)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Supplemental Information Related to Leases

Supplemental information related to leases is presented in the table below (in thousands, except weighted-average term and discount rate):

	Three Months Ended March 31,
	2021			2020
Operating lease cost	$	2,338		$	2,045
Cash paid for amounts included in the measurement of operating lease liabilities	2,772			2,259
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	224			6,022
	March 31, 2021			December 31, 2020
Weighted-average remaining lease term — operating leases	4.8 years			4.9 years
Weighted-average discount rate — operating leases	3.6		%	3.6		%

Maturities of Lease Liabilities

Maturities of lease liabilities are as follows (in thousands):

Year Ended December 31,	Operating Leases(1)
Remainder of 2021	$	8,723
2022	10,475
2023	9,690
2024	8,490
2025	7,536
2026 and thereafter	4,768
Total lease payments	49,682
Less: imputed interest(2)	4,155
Present value of lease liabilities	$	45,527

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(1)Operating lease payments exclude less than $0.1 million of legally binding minimum lease payments for leases executed but not yet commenced and includes $1.0 million for options to extend lease terms that were reasonably certain of being exercised.

(2)Imputed interest was calculated using the incremental borrowing rate applicable for each lease.