XML 55 R30.htm IDEA: XBRL DOCUMENT v3.21.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Summary of Company's Consolidated Balance Sheet
The following table summarizes the impacts of adopting Topic 842 on the Company’s consolidated balance sheet as of December 31, 2020 (in thousands):
As Reported Balance as of December 31, 2020Adjustments due
to Topic 842		As Adjusted Balance
as of January 1,
2021
Assets
Operating lease right-of-use assets—$195,944 $195,944 
Prepaid expenses and other current assets26,274 (8,106)18,168 
Total$26,274 $187,838 $214,112 
Liabilities
Accrued expenses and other current liabilities$65,392 $(1,704)$63,688 
Other long-term liabilities22,109 (21,983)126 
Operating lease liabilities—short-term—32,162 32,162 
Operating lease liabilities—long-term—179,363 179,363 
Total$87,501 $187,838 $275,339 
Summary of Non-cancelable Operating Leases
The following table presents maturity of lease liabilities under the Company’s non-cancelable operating leases as of June 30, 2021 (in thousands):
Remainder of 2021$26,944 
202255,855 
202350,220 
202441,414 
202534,860 
Thereafter78,423 
Total lease payments$287,716 
Less: interest(1)36,000 
Present value of lease liabilities$251,716 
 
(1)Calculated using the interest rate for each lease.
Summary of Supplemental Information The following table presents supplemental information for the six months ended June 30, 2021 (in thousands, except for weighted average and percentage data):
Weighted average remaining lease term6.22
Weighted average discount rate4.0 %
Cash paid for amounts included in the measurement of lease liabilities(1)
$25,141
Lease liabilities arising from obtaining new ROU assets$53,554
(1) Does not include $8.1 million of leasehold incentives received from the landlord.
Summary of Future Minimum Lease Payments
Prior to the adoption of Topic 842, future minimum lease payments as of December 31, 2020, which were undiscounted, were as follows (in thousands): 
2021$51,397 
202254,477 
202347,915 
202438,970 
202532,223 
Thereafter55,882 
Total lease payments$280,864