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Leases (Tables)
9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Summary of Components of Lease Expense

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

 

 

For the Three Months Ended September 30,

 

 

2020

 

 

2019

 

Operating lease cost

$

4,114

 

 

$

3,851

 

Short-term lease cost

 

81

 

 

 

80

 

Variable lease cost

 

1,539

 

 

 

1,197

 

Sublease income

 

(65

)

 

 

(54

)

Total lease cost

$

5,669

 

 

$

5,074

 

 

 

 

 

 

 

 

 

 

For the Nine Months Ended September 30,

 

 

2020

 

 

2019

 

Operating lease cost

$

12,049

 

 

$

11,215

 

Short-term lease cost

 

245

 

 

 

420

 

Variable lease cost

 

4,555

 

 

 

3,888

 

Sublease income

 

(190

)

 

 

(121

)

Total lease cost

$

16,659

 

 

$

15,402

 

 

Summary of Additional Lease Information

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

 

 

For the Nine Months Ended September 30,

 

 

2020

 

 

2019

 

Cash paid for amounts included in the measurement of operating

   lease liabilities

$

9,056

 

 

$

9,111

 

Operating lease right-of-use assets obtained in exchange for lease

   obligations

$

16,117

 

 

$

17,770

 

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

 

6.6

 

 

 

6.6

 

Weighted-average discount rate - operating leases

 

4.6

%

 

 

5.1

%

Summary of Future Minimum Lease Payments Under Non-Cancellable Leases

 

Future minimum lease payments under non-cancellable leases as of September 30, 2020 are as follows (in thousands):

 

2020 (remainder)

$

3,863

 

2021

 

15,285

 

2022

 

15,494

 

2023

 

14,962

 

2024

 

14,575

 

Thereafter

 

33,723

 

Total lease payments

 

97,902

 

Less imputed interest

 

(13,062

)

Present value of lease liabilities

$

84,840

 

 

Summary of Lease Balances

Lease balances as of September 30, 2020 are as follows (in thousands):

 

Operating lease right-of-use assets

$

73,211

 

 

 

 

 

Short-term operating lease liabilities (1)

$

11,900

 

Non-current operating lease liabilities

 

72,940

 

Total operating lease liabilities

$

84,840

 

 

(1)

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