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LEASES

3 Months Ended

Mar. 31, 2021

LEASES

LEASES

22. LEASES

The Company currently leases office space, data centers, remote network operations centers, and equipment under non-cancelable operating leases with third parties as of March 31, 2021. Certain leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or more, and some of which include the Company’s option to terminate the leases within one year.

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The following table presents the supplemental balance sheet information related to leases as of March 31, 2021 and December 31, 2020, respectively (in millions):

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​	​	​	​	​	​
​	March 31,		​	December 31,
​	2021		​	2020
Operating lease right of use assets	$	108.5	​	$	111.0
Total leased assets	$	108.5	​	$	111.0
​		​	​		​
Accrued liabilities	$	13.5	​	$	12.5
Non-current operating lease liabilities	​	129.1	​	​	132.1
Total leased liabilities	$	142.6	​	$	144.6

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The following table presents operating lease costs and other information as of and for the three months ended March 31, 2021 and 2020, respectively (in millions, except as stated):

​	​	​	​	​	​	​	​	​
​	Three Months Ended March 31,						​	​
​	2021			​	2020			​
Operating lease costs (1)	$	6.2	​	​	$	4.9	​	​
​	​	​	​	​	​	​	​	​
Lease term and discount rate information:	​	​	​	​	​	​	​	​
Weighted average remaining lease term (years)	​	11.9	​	​	​	13.2	​	​
Weighted average discount rate	​	3.4	%	​	​	3.5	%	​
​	​	​	​	​	​	​	​	​
Supplemental cash flow information and non-cash activity:	​	​	​	​	​	​	​	​
Cash paid for amounts included in the measurement of lease liabilities	$	4.1	​	​	$	2.8	​	​
Lease incentive for leasehold improvements	​	—	​	​	​	20.4	​	​
Right-of-use assets obtained in exchange for lease liabilities	​	1.0	​	​	​	64.2	​	​

(1) Includes short-term lease and variable lease costs, which are immaterial.

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The maturities of the lease liabilities are as follows as of March 31, 2021 (in millions):

​	​	​	​
​	​	March 31,
​		2021
Remainder of 2021	​	$	12.7
2022	​	​	17.7
2023	​	​	16.1
2024	​	​	11.1
2025	​	​	10.8
After 2025	​		108.0
Total lease payments (1)	​	$	176.4
Less: Interest	​	​	(33.8)
Present value of lease liabilities	​	$	142.6

(1) Total lease payments include $20.4 million related to options to extend lease terms that are reasonably certain of being exercised.

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- References

No definition available.

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- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=77888251

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