Lessee Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lessee Leases

Lessee LeasesThe Company has operating leases for office buildings, data centers, office equipment, and vehicles. The Company’s leases have initial terms of one to 12 years. As of December 31, 2020, the Company did not have any additional material operating leases that were entered into, but not yet commenced.

The maturity schedule of future minimum lease payments under operating leases and the reconciliation to the operating lease liabilities reported on the Consolidated Balance Sheets was as follows:

	December 31, 2020
	(In thousands)
2021	$	15,290
2022	14,106
2023	10,221
2024	8,922
2025	6,571
Thereafter	17,422
Total operating lease payments	72,532
Present value adjustment	(11,438)
Total operating lease liabilities (1)	$	61,094

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(1)    Amount consists of a current and long-term portion of operating lease liabilities of $12.2 million and $48.9 million, respectively. The short-term portion of the operating lease liabilities is included in accrued liabilities in the Consolidated Balance Sheets.

Operating lease costs were $14.3 million and $14.6 million for the years ended December 31, 2020 and 2019, respectively. Short-term lease costs and variable lease costs were immaterial for the years ended December 31, 2020 and 2019, respectively.

The following table summarizes supplemental cash flow information related to the Company’s operating leases for the years ended December 31, 2020 and 2019:

	Year Ended December 31,
	2020		2019
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	14,490	$	14,636
Right-of-use assets obtained in exchange for new lease liabilities, including leases obtained from recent acquisitions	$	10,025	$	1,204

The following table summarizes the weighted-average remaining lease term and weighted-average discount rate related to the Company’s operating leases as of December 31, 2020 and 2019:

	December 31,
	2020		2019
Weighted-average remaining lease term, years	5.9		6.4
Weighted-average discount rate, %	5.8	%	6.4	%