Leases

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Leases

Leases

The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The finance leases currently held are considered immaterial. The components of lease cost were as follows:

Components of Lease Cost
	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2021		2020		2021		2020
Finance lease cost:
Amortization of right-of-use assets	$	17	$	24	$	34	$	48
Interest on lease liabilities	1		2		2		4
Operating lease cost	1,288		1,183		2,521		2,408
Short-term lease cost	243		223		457		458
Variable lease cost	97		126		213		244
Total lease cost	$	1,646	$	1,558	$	3,227	$	3,162

Rent expense for the three and six months ended June 30, 2021 and 2020 was immaterial.

Maturities of operating lease liabilities were as follows:

Future Minimum Lease Payments
(in thousands)	June 30, 2021			December 31, 2020
2021	$	2,147	*	$	4,072
2022	3,502			3,063
2023	2,237			2,089
2024	1,540			1,465
2025	1,294			1,244
Thereafter	3,656			3,622
Total minimum lease payments	$	14,376		$	15,555
Less imputed interest	(1,147)			(1,310)
Total operating lease liabilities	$	13,229		$	14,245
*Period ended June 30, 2021 represents the remaining six months of 2021.

Future Lease Commencements

As of June 30, 2021, there are additional operating leases, primarily for buildings, that have not yet commenced in the amount of $3.0 million. These operating leases will commence in fiscal year 2021 with lease terms of 2 to 7 years.

Supplemental balance sheet information related to leases was as follows:

Operating Leases
(in thousands)	June 30, 2021			December 31, 2020
Other non-current assets	$	13,088		$	14,144
Accrued liabilities	3,825			3,680
Other long-term liabilities	9,404			10,565
Total operating lease liabilities	$	13,229		$	14,245
Weighted Average Remaining Lease Term	5.51 years			5.83 years
Weighted Average Discount Rate	2.88		%	3.04		%

Supplemental Cash Flow information related to leases was as follows:

	Six Months Ended June 30,
(in thousands)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,287	$	2,236

Leases

Leases

The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The finance leases currently held are considered immaterial. The components of lease cost were as follows:

Components of Lease Cost
	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2021		2020		2021		2020
Finance lease cost:
Amortization of right-of-use assets	$	17	$	24	$	34	$	48
Interest on lease liabilities	1		2		2		4
Operating lease cost	1,288		1,183		2,521		2,408
Short-term lease cost	243		223		457		458
Variable lease cost	97		126		213		244
Total lease cost	$	1,646	$	1,558	$	3,227	$	3,162

Rent expense for the three and six months ended June 30, 2021 and 2020 was immaterial.

Maturities of operating lease liabilities were as follows:

Future Minimum Lease Payments
(in thousands)	June 30, 2021			December 31, 2020
2021	$	2,147	*	$	4,072
2022	3,502			3,063
2023	2,237			2,089
2024	1,540			1,465
2025	1,294			1,244
Thereafter	3,656			3,622
Total minimum lease payments	$	14,376		$	15,555
Less imputed interest	(1,147)			(1,310)
Total operating lease liabilities	$	13,229		$	14,245
*Period ended June 30, 2021 represents the remaining six months of 2021.

Future Lease Commencements

As of June 30, 2021, there are additional operating leases, primarily for buildings, that have not yet commenced in the amount of $3.0 million. These operating leases will commence in fiscal year 2021 with lease terms of 2 to 7 years.

Supplemental balance sheet information related to leases was as follows:

Operating Leases
(in thousands)	June 30, 2021			December 31, 2020
Other non-current assets	$	13,088		$	14,144
Accrued liabilities	3,825			3,680
Other long-term liabilities	9,404			10,565
Total operating lease liabilities	$	13,229		$	14,245
Weighted Average Remaining Lease Term	5.51 years			5.83 years
Weighted Average Discount Rate	2.88		%	3.04		%

Supplemental Cash Flow information related to leases was as follows:

	Six Months Ended June 30,
(in thousands)	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,287	$	2,236