Leases (Notes)

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Lessee, Operating Leases [Text Block]

Leases

Leases

    We determine if an arrangement is a lease at inception. Our operating lease assets are separately stated in operating lease right-of-use ("ROU") assets and our financing lease assets are included in other assets on our condensed consolidated balance sheets. Our lease liabilities are included in accrued liabilities, and other long-term liabilities on our condensed consolidated balance sheets. We have elected not to recognize an ROU asset and lease liability for leases with terms of twelve months or less.

    Lease ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. Most of our leases do not provide an implicit rate, therefore we use our incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term based on the information available at commencement date. Our lease ROU assets exclude lease incentives and initial direct costs incurred. Our lease terms include options to extend when it is reasonably certain that we will exercise that option. All of our leases have

stated lease payments, which may include fixed rental increases. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term.

    Our leases are for corporate, research and development and sales and support offices, a distribution facility, device service centers and certain equipment. Our leases have original lease terms of one year to fifteen years, some of which include options to extend the leases for up to an additional five years. For all of our leases, we do not include optional periods of extension in our current lease terms for the exercise of options to extend is not reasonably certain.

    The following table presents the components of our lease cost (in thousands):

	For the three months  ended June 30				For the six months  ended June 30
	2021		2020		2021		2020
Operating lease cost	$	2,822	$	2,776	$	5,657	$	5,567
Finance lease cost - interest	32		26		63		32
Finance lease cost - amortization of ROU asset	166		102		317		126
Short-term lease cost	6		73		9		128
Total lease cost	$	3,026	$	2,977	$	6,046	$	5,853

Interest expense on our finance leases is included in other income (expense), net in our condensed consolidated statement of operations. The amortization of the operating and finance ROU asset is included in selling, general and administrative expenses in our condensed consolidated statement of operations.    

The following table presents the supplemental cash flow information related to our leases (in thousands):

	For the six months ended  June 30,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,657	$	4,706
Operating cash flows from finance leases	$	63	$	32
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	1,282	$	20,175
Finance leases	$	332	$	2,815

    The following table presents the supplemental balance sheet information related to our operating leases (in thousands, except lease term and discount rate):

	As of June 30, 2021			As of December 31, 2020
Operating leases
Operating lease right-of-use assets	$	43,315		$	46,571
Accrued liabilities	$	8,846		$	8,740
Other long-term liabilities	37,636			41,019
Total operating lease liabilities	$	46,482		$	49,759
Weighted Average Remaining Lease Term
Operating leases	6.3 years			6.7 years
Weighted Average Discount Rate
Operating leases	4.99		%	5.02		%

The following table presents the supplemental balance sheet information related to our finance leases (in thousands, except lease term and discount rate):

	As of June 30, 2021			As of December 31, 2020
Financing leases
Financing lease right-of-use assets	$	2,861		$	2,915
Accrued liabilities	$	624		$	554
Other long-term liabilities	2,284			2,388
Total financing lease liabilities	$	2,908		$	2,942
Weighted Average Remaining Lease Term
Financing leases	5.9 years			6.4 years
Weighted Average Discount Rate
Financing leases	4.28		%	4.27		%

    As of June 30, 2021, the maturities of our operating and financing lease liabilities for each of the next five years is approximately (in thousands):

	Operating Leases		Finance Leases
Remainder of 2021	$	5,568	$	367
2022	10,395		733
2023	9,192		733
2024	8,348		419
2025	5,023		219
2026	4,747		189
Thereafter	10,649		615
Total Lease Payments	53,922		3,275
Less imputed interest	(7,440)		(367)
Total	$	46,482	$	2,908