Leases

3 Months Ended

Mar. 31, 2023

We have operating leases for office space, data centers and certain equipment. We also have finance leases for office space. Our leases have remaining lease terms of 1 year to 36 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to terminate the leases within 1 year. Operating lease costs recognized in our Condensed Consolidated Statements of Operations for the three months ended March 31, 2023 and 2022 totaled $6.8 million and $6.5 million, respectively, including short-term lease costs in each period of $0.4 million. Amortization of the right-of-use asset for our finance leases totaled $0.2 million for the three months ended March 31, 2023 and interest expense on the finance leases liability totaled $0.5 million for the three months ended March 31, 2023.

Other information related to our leases was as follows:


(in thousands, except lease term and discount rate)	As of March 31, 2023			As of December 31, 2022

Balance Sheet Information
Operating Leases
Right-of-use assets	$	115,313		$	117,869
Other current liabilities	20,411			19,599
Operating lease liabilities	101,786			106,866
Financing Leases
Property and equipment, at cost	28,321			28,321
Accumulated depreciation	265			69
Property and equipment, net	28,056			28,252
Other current liabilities	—			426
Other liabilities	28,997			28,063
Weighted Average Remaining Lease Term
Operating leases	8.00 years			8.22 years
Finance leases	35.25 years			35.50 years
Weighted Average Discount Rate
Operating leases	4.45		%	4.34		%
Finance leases	7.10		%	7.10		%


	Three Months Ended March 31,
(in thousands)		2023		2022

Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		$	6,379	$	6,058
Operating cash flows from finance leases		—		—
Financing cash flows from finance leases		—		—
Right-of-use assets obtained in exchange for new operating lease obligations		2,439		231
Right-of-use assets obtained in exchange for new finance lease obligations		—		—

Future minimum lease payments under non-cancellable leases as of March 31, 2023 were as follows:


(in thousands)	Operating Leases		Finance Leases

Remainder of 2023	$	20,854	$	426
2024	25,042		1,302
2025	20,366		1,776
2026	18,295		1,824
2027	15,759		1,875
Thereafter	45,369		92,050
Total future minimum lease payments	145,685		99,253
Less: Imputed interest	(23,488)		(70,256)
Total	$	122,197	$	28,997

Leases

Other information related to our leases was as follows:


(in thousands, except lease term and discount rate)	As of March 31, 2023			As of December 31, 2022

Balance Sheet Information
Operating Leases
Right-of-use assets	$	115,313		$	117,869
Other current liabilities	20,411			19,599
Operating lease liabilities	101,786			106,866
Financing Leases
Property and equipment, at cost	28,321			28,321
Accumulated depreciation	265			69
Property and equipment, net	28,056			28,252
Other current liabilities	—			426
Other liabilities	28,997			28,063
Weighted Average Remaining Lease Term
Operating leases	8.00 years			8.22 years
Finance leases	35.25 years			35.50 years
Weighted Average Discount Rate
Operating leases	4.45		%	4.34		%
Finance leases	7.10		%	7.10		%


	Three Months Ended March 31,
(in thousands)		2023		2022

Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		$	6,379	$	6,058
Operating cash flows from finance leases		—		—
Financing cash flows from finance leases		—		—
Right-of-use assets obtained in exchange for new operating lease obligations		2,439		231
Right-of-use assets obtained in exchange for new finance lease obligations		—		—

Future minimum lease payments under non-cancellable leases as of March 31, 2023 were as follows:


(in thousands)	Operating Leases		Finance Leases

Remainder of 2023	$	20,854	$	426
2024	25,042		1,302
2025	20,366		1,776
2026	18,295		1,824
2027	15,759		1,875
Thereafter	45,369		92,050
Total future minimum lease payments	145,685		99,253
Less: Imputed interest	(23,488)		(70,256)
Total	$	122,197	$	28,997