v3.22.2
Leases (Tables)
6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Components of Lease Cost

The components of lease cost were as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

(in thousands)

 

Operating lease expense

$

28,830

 

 

$

17,148

 

 

$

52,456

 

 

$

32,088

 

Sublease income

 

(191

)

 

 

(926

)

 

 

(864

)

 

 

(1,328

)

Total net lease costs

$

28,639

 

 

$

16,222

 

 

$

51,592

 

 

$

30,760

 

Summary of Weighted Average Remaining Lease Term and Discount Rate Related to Operating Leases

Lease Term and Discount Rate

The weighted-average remaining lease term (in years) and discount rate related to the operating leases were as follows:

 

 

 

 

Six Months Ended June 30,

 

 

 

 

 

 

2022

 

 

 

 

2021

 

Weighted-average remaining lease term

 

 

 

 

 

6.9

 

 

 

 

 

7.1

 

Weighted-average discount rate

 

 

 

 

 

4.9

%

 

 

 

 

5.2

%

Present Value of Operating Lease Liabilities

Maturity of Lease Liabilities

The present value of our operating lease liabilities as of June 30, 2022 were as follows:

 

 

 

 

 

 

Operating Leases

 

 

 

 

 

 

(in thousands)

 

Remainder of 2022

 

 

 

 

$

39,034

 

2023

 

 

 

 

 

81,080

 

2024

 

 

 

 

 

104,979

 

2025

 

 

 

 

 

98,968

 

2026

 

 

 

 

 

49,398

 

Thereafter

 

 

 

 

 

186,251

 

Total lease payments

 

 

 

 

$

559,710

 

Less: Imputed interest

 

 

 

 

 

(94,231

)

Present value of lease liabilities

 

 

 

 

$

465,479