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Leases (Tables)
6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Summary of Components of Lease Expense

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

 

 

 

For the Three Months Ended June 30,

 

 

 

2021

 

 

2020

 

Operating lease cost

 

$

4,062

 

 

$

3,944

 

Short-term lease cost

 

 

98

 

 

 

81

 

Variable lease cost

 

 

1,280

 

 

 

1,660

 

Sublease income

 

 

(105

)

 

 

(63

)

Total lease cost

 

$

5,335

 

 

$

5,622

 

 

 

 

For the Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

Operating lease cost

 

$

7,882

 

 

$

7,935

 

Short-term lease cost

 

 

186

 

 

 

163

 

Variable lease cost

 

 

2,715

 

 

 

3,016

 

Sublease income

 

 

(166

)

 

 

(124

)

Total lease cost

 

$

10,617

 

 

$

10,990

 

Summary of Additional Lease Information

Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):

 

 

 

For the Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

Cash paid for amounts included in the measurement of operating
   lease liabilities

 

$

5,769

 

 

$

6,204

 

Operating lease ROU assets obtained in exchange for lease
   obligations

 

$

7,385

 

 

$

3,898

 

Weighted-average remaining lease term - operating leases (years)

 

 

6.3

 

 

 

6.1

 

Weighted-average discount rate - operating leases

 

 

4.4

%

 

 

5.0

%

Summary of Future Minimum Lease Payments and Sublease Cash Receipts Under Non-Cancelable Leases

Future minimum lease payments under non-cancelable leases and estimated future sublease cash receipts from non-cancelable arrangements as of June 30, 2021 are as follows (in thousands):

 

 

 

Operating Lease

 

 

Sublease

 

 

 

Payments

 

 

Cash Receipts

 

2021 (remainder)

 

$

7,564

 

 

$

182

 

2022

 

 

16,606

 

 

 

839

 

2023

 

 

16,564

 

 

 

606

 

2024

 

 

16,193

 

 

 

625

 

2025

 

 

14,236

 

 

 

 

Thereafter

 

 

27,102

 

 

 

 

Total lease payments and estimated sublease cash receipts

 

 

98,265

 

 

$

2,252

 

Less imputed interest

 

 

(14,589

)

 

 

 

Present value of lease liabilities

 

$

83,676

 

 

 

 

Summary of Lease Balances

Lease balances as of June 30, 2021 are as follows (in thousands):

 

Operating lease ROU assets

 

$

70,756

 

 

 

 

 

Short-term operating lease liabilities (1)

 

$

12,099

 

Non-current operating lease liabilities

 

 

71,577

 

Total operating lease liabilities

 

$

83,676

 

 

(1)
Included in accrued expenses and other current liabilities on the Consolidated Balance Sheets.