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

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

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2021

 

 

June 30, 2020

 

 

June 30, 2021

 

 

June 30, 2020

 

Operating lease cost(1)

 

$

11,381

 

 

$

9,691

 

 

$

21,647

 

 

$

21,908

 

Variable lease cost

 

 

4,541

 

 

 

3,331

 

 

 

7,493

 

 

 

5,529

 

Net operating lease cost

 

$

15,922

 

 

$

13,022

 

 

$

29,140

 

 

$

27,437

 

(1) Operating lease cost is presented net of sublease income. Sublease income for the three and six months ended June 30, 2021 was $0.2 million. Sublease income for the three and six months ended June 30, 2020 was $0.9 million and $1.7 million, respectively.

Schedule of Supplemental Cash Flow Information Related To Leases

Supplemental cash flow information related to leases is as follows (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2021

 

 

June 30, 2020

 

 

June 30, 2021

 

 

June 30, 2020

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash outflows from operating leases

 

$

11,755

 

 

$

5,733

 

 

$

27,979

 

 

$

15,184

 

Right-of-use assets obtained in exchange for lease obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

$

41,038

 

 

$

3,566

 

 

$

46,536

 

 

$

2,771

 

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows (in thousands, except lease term and discount rate):

 

 

As of

 

 

 

June 30, 2021

 

 

December 31, 2020

 

Operating lease right-of-use assets

 

$

298,949

 

 

$

266,197

 

 

 

 

 

 

 

 

 

 

Operating lease liability, current (included in accrued liabilities)

 

$

34,007

 

 

$

35,647

 

Operating lease liability, non-current

 

 

336,948

 

 

 

307,936

 

Total operating lease liability

 

$

370,955

 

 

$

343,583

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term:

 

 

 

 

 

 

 

 

Operating leases (in years)

 

8.8

 

 

9.05

 

Weighted-average discount rate:

 

 

 

 

 

 

 

 

Operating leases

 

 

4.33

%

 

 

4.60

%

Schedule of Future Lease Payments under Operating Leases

Future lease payments under operating leases as of June 30, 2021 are as follows (in thousands):

Year Ending December 31,

 

Operating Leases

 

2021 (remaining 6 months)

 

$

23,604

 

2022

 

 

49,456

 

2023

 

 

53,703

 

2024

 

 

52,637

 

2025

 

 

52,403

 

Thereafter

 

 

241,637

 

Total future lease payments

 

 

473,440

 

Less: imputed interest

 

 

(81,286

)

Less: expected tenant improvement allowance

 

 

(21,199

)

Total

 

$

370,955