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Leases
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases

18.

LEASES

Operating leases

The Group's leases consist of operating leases for administrative office spaces and enrollment centers in different cities in the PRC. For leases with terms greater than 12 months, the Group records the related asset and lease liability at the present value of lease payments over the term. As of December 31, 2021, the Group did not have additional operating leases that have not yet commenced. As of December 31, 2021, the Group had no long-term leases that were classified as a financing lease. Short-term lease cost for the year ended December 31, 2021 was immaterial.

For the years ended December 31, 2020 and 2021, no variable lease cost was recognized in the consolidated financial statements of the Group.

 

 

 

Years ended December 31,

 

 

2019

 

2020

 

2021

 

 

RMB

 

RMB

 

RMB

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

 

 

 

 

 

 

Operating cash flows from operating leases

 

85,717

 

72,698

 

74,038

Noncash changes in right-of-use assets from new lease obligations and lease

   modification:

 

 

 

 

 

 

Operating leases

 

126,099

 

(24,720)

 

4,339

Weighted average remaining lease term

 

 

 

 

 

 

Operating leases

 

12.2 years

 

12.0 years

 

12.3 years

Weighted average discount rate

 

 

 

 

 

 

Operating leases

 

6.7%

 

7.4%

 

7.6%

 

The following is a maturity analysis of the annual undiscounted cash flows for lease liabilities as of December 31, 2021:

 

 

 

RMB

 

2022

 

 

34,266

 

2023

 

 

48,943

 

2024

 

 

49,242

 

2025

 

 

51,461

 

2026

 

 

52,857

 

2027 and thereafter

 

 

409,773

 

Total future lease payments

 

 

646,542

 

Less: Imputed interest

 

 

228,099

 

Total lease liability balance

 

 

418,443

 

 

Operating leases - continued

Payments under operating leases are expensed on the straight-line basis over the periods of their respective leases. The terms of the leases do not contain rent escalation or contingent rents. For the years ended December 31, 2019, 2020 and 2021, the total rental expenses for all operating leases amounted to RMB96,165, RMB91,814 and RMB68,292, respectively, recorded in cost of revenues, selling expenses, research and development expenses and general and administrative expenses on the consolidated statements of operations.