Leases

6 Months Ended

Jun. 30, 2020

LeasesWe have various non-cancelable operating leases for our corporate offices in California, Colorado, Illinois, Massachusetts, Michigan, New York and Texas in the United States and Australia, Brazil, Canada, the Czech Republic, France, Germany, Japan, Singapore, Ukraine, the United Arab Emirates, and the United Kingdom. These leases expire at various times through 2029. Certain lease agreements contain renewal options, rent abatement, and escalation clauses that are factored into our determination of lease payments when appropriate.

Lease Costs

The following lease costs were included in our condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Operating lease cost	$	2,470	$	1,596	$	4,844	$	3,018
Short-term lease cost	461		470		1,007		714
Variable lease cost	952		432		1,626		783
Total lease cost	$	3,883	$	2,498	$	7,477	$	4,515

Undiscounted Cash Flows

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of June 30, 2020 (in thousands):


Remainder of 2020	$	4,884
2021	8,904
2022	8,292
2023	6,901
2024	6,712
2025	5,855
Thereafter	6,433
Total minimum lease payments	47,981
Less imputed interest	(7,703)
Present value of future minimum lease payments	40,278
Less current obligations under leases ⁽¹⁾	(7,250)
Long-term lease obligations	$	33,028

(1) Included in accrued expenses and other current liabilities in our condensed consolidated balance sheets.

In addition to the leases included on our condensed consolidated balance sheet as of June 30, 2020, we have 5 leases that have been executed but not yet commenced as of June 30, 2020 with lease terms that range from two to eight years. As of June 30, 2020, we have either not gained access or have not begun construction for these leased assets nor do we have control of the underlying assets while under construction. We anticipate that these operating leases will commence during the next twelve months. We expect to pay approximately $84.4 million in minimum rent payments related to these leases, $22.1 million of which will be paid over the next 24 months.