Leases Leases (Notes)

6 Months Ended

Jun. 30, 2021

The Company leases certain equipment and facilities under non-cancelable operating leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet; expense related to these leases is recognized on a straight-line basis over the lease term.

The components of lease expense are as follows (dollars in thousands):


	Three months ended June 30,				Six months ended June 30,
	2021		2020		2021		2020
Operating lease cost	$	2,140	$	2,020	$	4,280	$	3,670
Short-term, variable and other lease costs	430		270		860		580
Total lease cost	$	2,570	$	2,290	$	5,140	$	4,250

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


Year ended December 31,	Operating Leases(a)
2021 (excluding the six months ended June 30, 2021)	$	3,940
2022	7,720
2023	6,880
2024	6,000
2025	4,850
Thereafter	15,800
Total lease payments	45,190
Less: Imputed interest	(5,770)
Present value of lease liabilities	$	39,420

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(a) The maturity table excludes cash flows associated with exited lease facilities. Liabilities for exited lease facilities are included in accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheet.

The weighted-average remaining lease term of the Company's operating leases as of June 30, 2021 is approximately 7.0 years. The weighted-average discount rate as of June 30, 2021 is approximately 4.2%.

Cash paid for amounts included in the measurement of operating lease liabilities was approximately $4.2 million and $3.0 million during the six months ended June 30, 2021 and 2020, respectively, and is included in cash flows provided by operating activities in the consolidated statement of cash flows.

Right-of-use assets obtained in exchange for lease liabilities were approximately $6.1 million and $10.2 million during the six months ended June 30, 2021 and 2020, respectively.