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LEASES
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases LEASES
During the years ended December 31, 2021 and 2020, the Company incurred operating lease expenses of $29.8 million and $30.8 million including short-term lease expenses, which were included as a component of selling, general and administrative expenses in the consolidated statements of comprehensive income (loss). As of December 31, 2021, the weighted-average remaining lease term was 6.6 years and the weighted-average discount rate was 5.10%.
Operating leases mature as follows (in thousands):
Year Ending December 31Minimum Payments
2022$23,558 
202320,508 
202414,930 
202512,218 
20269,315 
2027 and beyond28,052 
Total lease payments108,581 
Less: Interest(15,000)
Present value of lease liabilities$93,581 
During the year ended December 31, 2021, the Company commenced new leases, extensions and amendments, resulting in non-cash investing and financing activities in the consolidated statements of cash flows of $20.7 million related to the increases in the operating lease right-of-use asset and operating lease liabilities, respectively. As of December 31, 2021, the Company did not have any significant operating or financing leases that had not yet commenced.
Leases LEASES
During the years ended December 31, 2021 and 2020, the Company incurred operating lease expenses of $29.8 million and $30.8 million including short-term lease expenses, which were included as a component of selling, general and administrative expenses in the consolidated statements of comprehensive income (loss). As of December 31, 2021, the weighted-average remaining lease term was 6.6 years and the weighted-average discount rate was 5.10%.
Operating leases mature as follows (in thousands):
Year Ending December 31Minimum Payments
2022$23,558 
202320,508 
202414,930 
202512,218 
20269,315 
2027 and beyond28,052 
Total lease payments108,581 
Less: Interest(15,000)
Present value of lease liabilities$93,581 
During the year ended December 31, 2021, the Company commenced new leases, extensions and amendments, resulting in non-cash investing and financing activities in the consolidated statements of cash flows of $20.7 million related to the increases in the operating lease right-of-use asset and operating lease liabilities, respectively. As of December 31, 2021, the Company did not have any significant operating or financing leases that had not yet commenced.