Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

10. Leases

The Company leases certain equipment and facilities under operating leases which expire at various dates through 2028. The Company’s operating lease costs were as follows:

	Year Ended December 31,
(in thousands)	2020		2019
Operating lease cost (gross lease expense)	$	13,377	$	12,773
Variable lease costs		5,636		6,630
Sublease income (including reimbursed expenses)		5,303		7,527

During the years ended December 31, 2020 and 2019, the Company’s short-term lease costs were nominal.

The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The weighted average remaining operating lease term was 7.6 years and 8.4 years as of December 31, 2020 and 2019, respectively.

The weighted average discount rate used to estimate operating lease liabilities was 7.5% and 7.4% as of December 31, 2020 and 2019, respectively.

As of December 31, 2020, maturities of operating lease liabilities and sublease income, by year are as follows:

(in thousands)	Operating Lease Payments		Sublease Income
2021	$	14,234	$	(4,087	)
2022		14,099		(1,481	)
2023		13,587		(1,101	)
2024		13,287		—
2025		13,531		—
Thereafter		42,300		—
Gross lease payments (income)	$	111,038	$	(6,669	)
Less: Imputed interest		27,789
Less: Tenant improvement receivables		444
Total operating lease liabilities	$	82,805