LEASES (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of Lease Expense

Expense

(in thousands)	2021		2020		2019
Fixed lease costs	$	(1,694)	$	20,235	$	18,250
Short-term lease costs	2,244		1,669		1,291
Variable lease costs	4,480		4,470		5,554
	$	5,030	$	26,374	$	25,095

Schedule of Right of Use Asset and Lease Liabilities

Right of use assets and lease liabilities

(in thousands)	December 31, 2021		December 31, 2020
Right of use assets (1)	$	87,521	$	67,651
Operating lease liabilities (2)	$	6,989	$	18,541
Long-term operating lease liabilities	$	87,818	$	59,053

(1) Represents the Company’s right to use the leased asset during the lease term. Included in other long-term assets.

(2) Included in other current liabilities.

Schedule of Weighted Average and Discount Rate

The weighted-average remaining lease term and discount rate for the Company’s leases were:

	December 31, 2021		December 31, 2020
Weighted-average remaining lease term	7.7 years		4.7 years
Weighted-average discount rate (1)	4.4	%	5.4	%

(1) The rates implicit in most of the Company’s leases are not readily determinable. Therefore, the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur to borrow an amount equal to the lease payments on a collateralized basis over the lease term in a similar economic environment.

Schedule of Lease Maturities after Adoption of 842

Maturities of lease liabilities:

(in thousands)	December 31, 2021
2022	$	8,942
2023	17,705
2024	16,411
2025	13,553
2026	9,840
Thereafter	48,458
Total lease payments	114,909
Less: imputed interest (1)	(20,102)
	$	94,807

(1) Lease liabilities are measured at the present value of the remaining lease payments using a discount rate determined at lease commencement unless the discount rate is updated due to a lease reassessment event.

Schedule of Supplemental Cash Flow Lease Information

Cash flow information (1)

(in thousands)	2021		2020
Cash paid for leases	$	18,428	$	20,548
Right of use assets recognized for new leases and amendments (non-cash)	$	55,068	$	24,276

(1) In 2021, the Company received $18 million as a one-time payment for our accelerated exit from our then corporate headquarters in Cambridge, Massachusetts. This payment has been excluded from the above table.