XML 23 R13.htm IDEA: XBRL DOCUMENT v3.21.1
Leases
 3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Leases Leases
The Company's lease portfolio consists of real estate and co-location agreements in the U.S. and internationally. The real estate leases include leases for office space and have remaining lease terms of up to 3.6 years. Certain of these leases contain options that allow the Company to extend or terminate the lease agreement. The Company's co-location leases have remaining lease terms of up to 6.9 years. All of the Company's leases are classified as operating leases.
The Company also subleases one of its leased office spaces. The sublease has a remaining lease term of 0.1 years. Sublease income, which is recorded as a reduction of rent expense was $0.7 million for the three months ended March 31, 2021 and 2020.
The components of lease cost related to the Company's operating leases included in the condensed consolidated statements of operations were as follows:
Three Months Ended March 31,
20212020
(in thousands)
Operating lease cost$5,497 $4,543 
Sublease income(747)(707)
Total lease cost$4,750 $3,836 
Variable lease cost and short-term lease cost for the three months ended March 31, 2021 were not material.
As of March 31, 2021, the Company had $35.7 million of total undiscounted future payments under operating leases that have not yet commenced, which were not included on the condensed consolidated balance sheets. These operating leases will commence between April 2021 and October 2024 and have an average lease term of 4.7 years.
As of March 31, 2021, the weighted-average remaining term of the Company’s operating leases was 2.8 years and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 3.2%.

Maturities of the operating lease liabilities as of March 31, 2021 are as follows:
March 31, 2021
(in thousands)
2021 (remaining nine months)$14,473 
202215,657 
20239,137 
20245,035 
2025923 
Thereafter384 
Total lease payments$45,609 
Less: Imputed interest$(1,992)
Total operating lease liabilities$43,617 
Leases Leases
The Company's lease portfolio consists of real estate and co-location agreements in the U.S. and internationally. The real estate leases include leases for office space and have remaining lease terms of up to 3.6 years. Certain of these leases contain options that allow the Company to extend or terminate the lease agreement. The Company's co-location leases have remaining lease terms of up to 6.9 years. All of the Company's leases are classified as operating leases.
The Company also subleases one of its leased office spaces. The sublease has a remaining lease term of 0.1 years. Sublease income, which is recorded as a reduction of rent expense was $0.7 million for the three months ended March 31, 2021 and 2020.
The components of lease cost related to the Company's operating leases included in the condensed consolidated statements of operations were as follows:
Three Months Ended March 31,
20212020
(in thousands)
Operating lease cost$5,497 $4,543 
Sublease income(747)(707)
Total lease cost$4,750 $3,836 
Variable lease cost and short-term lease cost for the three months ended March 31, 2021 were not material.
As of March 31, 2021, the Company had $35.7 million of total undiscounted future payments under operating leases that have not yet commenced, which were not included on the condensed consolidated balance sheets. These operating leases will commence between April 2021 and October 2024 and have an average lease term of 4.7 years.
As of March 31, 2021, the weighted-average remaining term of the Company’s operating leases was 2.8 years and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 3.2%.

Maturities of the operating lease liabilities as of March 31, 2021 are as follows:
March 31, 2021
(in thousands)
2021 (remaining nine months)$14,473 
202215,657 
20239,137 
20245,035 
2025923 
Thereafter384 
Total lease payments$45,609 
Less: Imputed interest$(1,992)
Total operating lease liabilities$43,617