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LEASES (Tables)

12 Months Ended

Dec. 31, 2020

The following table presents components of lease expense (in thousands):


	Year Ended December 31,
	2020		2019
Finance lease cost
Amortization of right-of-use assets	$	3,596	$	2,025
Interest on lease liabilities	820		495
Operating lease cost	10,059		11,385
Variable lease cost	1,590		2,350
Sublease income	(769)		(1,041)
Total lease cost	$	15,296	$	15,214

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


	Year Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	9,228	$	12,940
Operating cash flows for financing leases	818		495
Financing cash flows for financing leases	3,481		2,393
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases(1)	$	(1,590)	$	23,620
Finance leases	11,694		20

______________________________________

(1)During the second quarter of 2020, the Company executed an amendment to an existing lease agreement resulting in the reclassification of certain lease components from an operating lease to a finance lease. As such, the Company recorded an adjustment to reduce the operating lease liability and the corresponding operating lease right-of-use asset and increase the finance lease liability and corresponding finance lease right-of-use asset.

Supplemental balance sheet information related to leases are as follows:


	December 31,
	2020		2019
Weighted average remaining lease term:
Operating leases	4 years		5 years
Financing leases	8 years		8 years
Weighted average discount rate:
Operating leases	4.1	%	4.7	%
Financing leases	3.0	%	3.0	%

Operating Lease, Maturity

Maturities of lease liabilities as of December 31, 2020 are as follows (in thousands):


	Operating Leases		Finance Leases
2021	$	7,018	$	4,789
2022	8,299		3,600
2023	6,952		3,698
2024	5,044		3,804
2025	5,166		3,862
Thereafter	24,311		13,892
Total future minimum lease payments	56,790		33,645
Less: Interest	(10,015)		(3,923)
Total	$	46,775	$	29,722

Finance Lease, Maturity

Maturities of lease liabilities as of December 31, 2020 are as follows (in thousands):


	Operating Leases		Finance Leases
2021	$	7,018	$	4,789
2022	8,299		3,600
2023	6,952		3,698
2024	5,044		3,804
2025	5,166		3,862
Thereafter	24,311		13,892
Total future minimum lease payments	56,790		33,645
Less: Interest	(10,015)		(3,923)
Total	$	46,775	$	29,722