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Leases (Tables)
6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Schedule of Operating Lease Costs

The components of operating lease costs were as follows (in thousands):

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Fixed lease cost (1)

 

$

5,463

 

 

$

5,528

 

 

$

10,989

 

 

$

10,994

 

Variable lease cost

 

 

1,506

 

 

 

1,187

 

 

 

2,780

 

 

 

2,552

 

Less: sublease income

 

 

(2,705

)

 

 

(3,157

)

 

 

(4,811

)

 

 

(5,346

)

Total operating lease cost

 

$

4,264

 

 

$

3,558

 

 

$

8,958

 

 

$

8,200

 

 

(1) Includes short-term leases, which were immaterial.

Schedule of Other Information Related to Leases

Other information related to leases was as follows (in thousands, except lease term and discount rate):

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

5,439

 

 

$

5,761

 

 

$

11,024

 

 

$

11,316

 

ROU assets obtained in exchange for new lease liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

$

1,195

 

 

$

3,478

 

 

$

3,103

 

 

$

3,478

 

 

 

 

 

June 30, 2022

 

 

December 31, 2021

 

Weighted-average remaining lease term (years):

 

 

 

 

 

 

Operating leases

 

 

4.0

 

 

 

4.4

 

Weighted-average discount rate:

 

 

 

 

 

 

Operating leases

 

 

4.9

%

 

 

5.0

%

Schedule of Future Minimum Lease Payments and Related Lease Liabilities

Future minimum lease payments and related lease liabilities as of June 30, 2022 were as follows (in thousands):

 

 

 

Operating Lease Payments (1)

 

 

Sublease Income

 

 

Net Operating Lease Payments

 

2022 (remaining 6 months)

 

$

9,313

 

 

$

(3,735

)

 

$

5,578

 

2023

 

 

19,585

 

 

 

(7,618

)

 

$

11,967

 

2024

 

 

17,681

 

 

 

(7,610

)

 

$

10,071

 

2025

 

 

15,516

 

 

 

(7,386

)

 

$

8,130

 

2026

 

 

6,586

 

 

 

(935

)

 

$

5,651

 

Thereafter

 

 

3,182

 

 

 

 

 

$

3,182

 

Total lease payments

 

 

71,863

 

 

 

(27,284

)

 

 

44,579

 

Less: imputed interest

 

 

(7,092

)

 

 

 

 

 

(7,092

)

Present value of lease liabilities:

 

$

64,771

 

 

$

(27,284

)

 

$

37,487

 

 

 

 

 

 

 

 

 

 

 

Less: current obligations under leases (accrued liabilities)

 

 

16,319

 

 

 

 

 

 

 

Noncurrent operating lease liabilities

 

$

48,452

 

 

 

 

 

 

 

(1) Future minimum lease payments exclude short-term leases as well as payments to landlords for variable common area maintenance, insurance and real estate taxes.