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Leases
 9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Leases Leases
We have operating leases for office facilities and finance leases for computer and office equipment. The components of lease expense were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)
2020201920202019
Operating lease cost
$2,231 $1,763 $7,042 $3,844 
Finance lease cost
Amortization of ROU assets
$49 $157 $235 $465 
Interest on lease liabilities
2 2 5 5 
Total finance lease cost
$51 $159 $240 $470 
Rent expense for short-term leases in the three and nine months ended September 30, 2020 and 2019 was not material.
Supplemental information related to leases was as follows:
September 30, 2020December 31, 2019
Operating leases
Weighted average remaining lease term
10.2 years10.0 years
Weighted average discount rate
5.6%5.8%
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)
2020201920202019
ROU assets obtained in exchange for lease obligations
Operating leases
$2,484 $32,292 $3,188 $34,490 
Finance leases
— — — 11 
During the three months ended September 30, 2020, we determined that we would not execute our option to terminate one of our operating leases that we previously assumed would be terminated in 2021. This resulted in recognizing $2.5 million of right-of use assets, with an offsetting increase to the lease liability.
In the three and nine months ended September 30, 2020, we received proceeds from lease incentives of $5.6 million and $14.2 million, respectively. The proceeds from lease incentives received are included with the change in the right-of-use assets and lease liabilities under the Other assets caption in the operating activities section of the statement of cash flows.
Maturities of operating lease liabilities at September 30, 2020 were as follows:
(in thousands)
Year ending December 31,
2020(1)
$1,211 
2021
7,612 
2022
7,945 
2023
7,632 
2024
7,786 
Thereafter
51,879 
Total lease payments
84,065 
Less: Imputed interest
(22,108)
Total
$61,957 
_______________
(1)    Represents the three months ending December 31, 2020.
Leases Leases
We have operating leases for office facilities and finance leases for computer and office equipment. The components of lease expense were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)
2020201920202019
Operating lease cost
$2,231 $1,763 $7,042 $3,844 
Finance lease cost
Amortization of ROU assets
$49 $157 $235 $465 
Interest on lease liabilities
2 2 5 5 
Total finance lease cost
$51 $159 $240 $470 
Rent expense for short-term leases in the three and nine months ended September 30, 2020 and 2019 was not material.
Supplemental information related to leases was as follows:
September 30, 2020December 31, 2019
Operating leases
Weighted average remaining lease term
10.2 years10.0 years
Weighted average discount rate
5.6%5.8%
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)
2020201920202019
ROU assets obtained in exchange for lease obligations
Operating leases
$2,484 $32,292 $3,188 $34,490 
Finance leases
— — — 11 
During the three months ended September 30, 2020, we determined that we would not execute our option to terminate one of our operating leases that we previously assumed would be terminated in 2021. This resulted in recognizing $2.5 million of right-of use assets, with an offsetting increase to the lease liability.
In the three and nine months ended September 30, 2020, we received proceeds from lease incentives of $5.6 million and $14.2 million, respectively. The proceeds from lease incentives received are included with the change in the right-of-use assets and lease liabilities under the Other assets caption in the operating activities section of the statement of cash flows.
Maturities of operating lease liabilities at September 30, 2020 were as follows:
(in thousands)
Year ending December 31,
2020(1)
$1,211 
2021
7,612 
2022
7,945 
2023
7,632 
2024
7,786 
Thereafter
51,879 
Total lease payments
84,065 
Less: Imputed interest
(22,108)
Total
$61,957 
_______________
(1)    Represents the three months ending December 31, 2020.