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Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Schedule of Consolidated Balance Sheet Information and Supplemental Information

The following was included in our consolidated balance sheet as of December 31, 2021 and 2020 (in thousands):

    

2021

    

2020

Assets

 

  

 

  

ROU operating lease assets

$

65,913

$

78,240

Liabilities

 

  

 

  

Short-term operating lease liabilities

$

10,668

$

12,903

Long-term operating lease liabilities

 

61,526

 

70,941

Total operating lease liabilities

$

72,194

$

83,844

Components of Lease Costs

We recognize lease expense for operating leases on a straight-line basis over the term of the lease. Net lease cost for the years ended December 31, 2021, 2020 and 2019 was $15.9 million, $16.7 million, and $16.5 million, respectively. The components of lease costs for the years ended December 31, 2021, 2020 and 2019 were as follows, in thousands:

    

    

    

    

Lease Cost

Classification

2021

2020

2019

Operating lease cost (a)

 

Selling, general and administrative expenses

$

16,013

$

16,735

$

16,828

Sublease (income) (b)

 

Selling, general and administrative expenses

 

(75)

 

(15)

 

(361)

Net lease cost

 

  

$

15,938

$

16,720

$

16,467

(a)

Includes expense related to short-term leases and variable payments, which were not significant.

(b)

Does not include rental revenue from leases of hardware consoles to customers, which was not significant.

Supplemental cash flow information for the years ended December 31, 2021, 2020 and 2019 was as follows, in thousands:

2021

2020

2019

Cash paid for amounts included in the measurement of lease liabilities

$

14,970

15,059

14,646

Right-of-use assets obtained in exchange for lease obligations

$

1,524

10,938

10,637

Generally, our lease agreements do not specify an implicit rate. Therefore, we estimate our incremental borrowing rate, which is defined as the interest rate we would pay to borrow on a collateralized basis, considering such factors as length of lease term and the risks of the economic environment in which the leased asset operates. As of December 31, 2021, 2020 and 2019, our lease agreements had the following remaining lease term and discount rates:

    

2021

2020

2019

Weighted average remaining lease term

 

11.4 years

11.5 years

12.3 years

Weighted average discount rate

 

3.4%

3.3%

3.2%

Maturities of Operating Lease Liabilities

As of December 31, 2021, maturities of operating lease liabilities were as follows, in thousands:

Year ended December 31, 

    

Amounts due under operating leases

2022

$

12,405

2023

 

9,794

2024

 

8,847

2025

 

7,130

2026

 

6,378

Thereafter

 

43,306

Total lease payments

 

87,860

Less: Imputed interest

 

(15,666)

Total

$

72,194