Lease Accounting (Tables)

3 Months Ended

Mar. 31, 2021

The following table presents information about the Company's leases as of the dates indicated.


	Three months ended March 31,
		2021		2020
		(In thousands)
Lease cost
Operating lease cost		$	5,007	$	4,601
Short-term lease cost		58		48
Variable lease cost		3		(9)
Less: Sublease income		(38)		(28)
Total operating lease cost		$	5,030	$	4,612


	Three months ended March 31,
	2021			2020
	(In thousands, except years and percentages)
Other information

Cash paid for amounts included in the measurement of lease liabilities

Operating cash flows from operating leases	$	5,222		$	5,100


ROU assets obtained in exchange for new operating lease liabilities (1)	$	1,541		$	443

Weighted-average remaining lease term for operating leases	7.5 years			7.9 years

Weighted-average discount rate for operating leases	3.0		%	3.2		%

______________________

(1) Operating lease liabilities were impacted by the modification and addition of real estate leases and the addition of equipment leases for the three months ended March 31, 2021.

Schedule of minimum payment obligation

The Company is obligated for minimum payments under non-cancelable operating leases. In accordance with the terms of these leases, the Company is currently committed to minimum annual payments as follows as of March 31, 2021:


	March 31, 2021
	(In thousands)
Remainder of 2021	$	15,814
2022	21,334
2023	19,846
2024	13,884
2025	12,541
Thereafter	39,918
Total future minimum lease payments	123,337
Less: Amounts representing interest	(16,194)
Present value of net future minimum lease payments	$	107,143