v3.20.2

Commitments and Contingencies | 6 Months Ended
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Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies Operating Leases For some of our offices and data centers, we have entered into non-cancelable operating lease agreements with various expiration dates through 2035. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into our determination of lease payments. Total operating lease costs were $21 million and $40 million, excluding short-term lease costs, variable lease costs and sublease income, each of which were immaterial, for the three and six months ended June 30, 2020, respectively. Total operating lease costs were $16 million and $31 million, excluding short-term lease costs variable lease costs and sublease income, each of which were immaterial for the three and six months ended June 30, 2019, respectively. For the six months ended June 30, 2020, cash paid for amounts included in the measurement of operating lease liabilities was $26 million and operating lease liabilities arising from obtaining operating right-of-use assets totaled $94 million. As of June 30, 2020, the weighted-average remaining lease term is 8.9 years, and the weighted-average discount rate is 3.5%. Maturities of operating lease liabilities as of June 30, 2020 are presented in the table below (in thousands):
Remainder of 2020 | $ | 40,937 |
2021 | 82,717 |
2022 | 81,034 |
2023 | 75,961 |
2024 | 58,844 |
Thereafter | 257,587 |
Total operating lease payments | 597,080 |
Less: imputed interest | (94,839) |
Present value of operating lease liabilities | $ | 502,241 |
In addition to the amounts above, as of June 30, 2020, we have operating leases, primarily for offices, that have not yet commenced with undiscounted cash flows of $359 million. These operating leases will commence between 2020 and 2022 with lease terms of 4 to 15 years. Other Contractual Commitments Other contractual commitments consist of data center and IT operations and sales and marketing activities. There were no material contractual obligations that were entered into during the six months ended June 30, 2020 that were outside the ordinary course of business. In addition to the amounts above, the repayment of our 2022 Notes with an aggregate principal amount of $765 million is due on June 1, 2022. Refer to Note 10 for further information regarding our Notes. Also, $12 million of unrecognized tax benefits have been recorded as liabilities as of June 30, 2020. Letters of Credit As of June 30, 2020, we had letters of credit in the aggregate amount of $20 million, primarily in connection with our customer contracts and operating leases. Legal Proceedings From time to time, we are party to litigation and other legal proceedings in the ordinary course of business. While the results of any litigation or other legal proceedings are uncertain, management does not believe the ultimate resolution of any pending legal matters is likely to have a material adverse effect on our financial position, results of operations or cash flows, except for those matters for which we have recorded a loss contingency. We accrue for loss contingencies when it is both probable that we will incur the loss and when we can reasonably estimate the amount of the loss or range of loss. Generally, our subscription agreements require us to defend our customers for third-party intellectual property infringement and other claims. Any adverse determination related to intellectual property claims or other litigation could prevent us from offering our services and adversely affect our financial condition and results of operations.

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