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LEASES
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
LEASES LEASESOur leases consist primarily of operating real estate leases for office space and data centers in the markets in which we conduct business. We also have operating and finance leases for computer and other equipment. Many of our leases include escalating rental payments and incentives, as well as termination and renewal options. Certain of our lease agreements provide that we pay the cost of property taxes, insurance and maintenance. As described in "Note 1—Basis of Presentation and Summary of Significant Accounting Policies," we adopted ASU 2016-02 on January 1, 2019. Unless otherwise indicated, the following information in this footnote applies only to periods after December 31, 2018.
As of December 31, 2020 and 2019, right-of-use assets and lease liabilities consisted of the following:
Balance Sheet LocationDecember 31, 2020December 31, 2019
(in thousands)
Assets:
Operating lease right-of-use assets:
Real estateOther noncurrent assets$425,376 $355,063 
Computer equipmentOther noncurrent assets54,959 80,427 
OtherOther noncurrent assets862 1,310 
Total operating lease right-of-use-assets$481,197 $436,800 
Finance lease right-of-use assets:
Computer equipmentProperty and equipment, net$26,737 $21,901 
Other equipmentProperty and equipment, net45,560 — 
OtherProperty and equipment, net4,260 4,808 
76,557 26,709 
Less accumulated depreciation:
Computer equipmentProperty and equipment, net(6,602)(2,190)
Other equipmentProperty and equipment, net(8,628)— 
OtherProperty and equipment, net(869)(234)
Total accumulated depreciation(16,099)(2,424)
Total finance lease right-of-use assets60,458 24,285 
Total right-of-use assets(1)
$541,655 $461,085 
Liabilities:
Operating lease liabilities (current)Accounts payable and accrued liabilities$103,706 $88,812 
Operating lease liabilities (noncurrent)Other noncurrent liabilities448,016 397,488 
Finance lease liabilities (current)Current portion of long-term debt18,217 6,570 
Finance lease liabilities (noncurrent)Long-term debt57,772 26,426 
Total lease liabilities$627,711 $519,296 

(1) As of December 31, 2020 and 2019, approximately 72% and 82% of our right-of-use assets were located in the United States.

The weighted-average remaining lease term for operating and finance leases at December 31, 2020 was 7.4 years and 4.3 years, respectively. The weighted-average remaining lease term for operating and finance leases at December 31, 2019 was 7.4 years and 5.1 years, respectively. As of December 31, 2020, the weighted-average discount rate used in the measurement of operating and finance lease liabilities was 3.5% and 3.3%, respectively. As of December 31, 2019, the weighted-average discount rate used in the measurement of operating and finance lease liabilities was 4.1% and 2.8%, respectively.
As of December 31, 2020, maturities of lease liabilities were as follows:
Operating LeasesFinance Leases
(in thousands)
Year ending December 31,
2021$122,002 $25,841 
2022107,349 18,950 
202376,127 17,346 
202466,309 15,682 
202556,508 2,834 
2026 and thereafter204,895 — 
Total lease payments(1)
633,190 80,653 
Imputed interest(81,468)(4,664)
Total lease liabilities$551,722 $75,989 

(1) Total operating lease payments do not include approximately $147.5 million for operating leases that had not yet commenced at December 31, 2020. Total finance lease payments do not include approximately $18.1 million for finance leases that had not yet commenced at December 31, 2020. We expect the lease commencement dates for these leases to occur in 2021.

Operating lease costs in our consolidated statement of income for the year ended December 31, 2020 were $147.0 million, including $108.4 million in selling, general and administrative expenses and $38.6 million in cost of services. Total lease costs for the year ended December 31, 2020 include variable lease costs of approximately $17.9 million, which are primarily comprised of the cost of property taxes, insurance and maintenance. Finance lease costs for the year ended December 31, 2020 were $16.3 million, including $14.6 million of amortization on right-of use assets and $1.6 million of interest on lease liabilities. Lease costs for leases with a term of less than 12 months were not material for the year ended December 31, 2020.

Operating lease costs in our consolidated statement of income for the year ended December 31, 2019 were $85.9 million, including $71.0 million in selling, general and administrative expenses and $14.9 million in cost of services. Total lease costs for the year ended December 31, 2019 include variable lease costs of approximately $19.1 million, which are primarily comprised of the cost of property taxes, insurance and maintenance. Finance lease costs and lease costs for leases with a term of less than 12 months were not material for the year ended December 31, 2019.

Cash paid for amounts included in the measurement of operating lease liabilities for the years ended December 31, 2020 and 2019 was $117.7 million and $70.4 million, respectively, which are included as a component of cash provided by operating activities in the consolidated statement of cash flows. Operating lease liabilities arising from obtaining new or modified right-of-use assets, net of reductions resulting from certain lease modifications, were approximately $158.6 million and $28.4 million for the years ended December 31, 2020 and 2019, respectively. Cash paid for amounts included in the measurement of finance lease liabilities that is included as a component of cash used in financing activities in the consolidated statement of cash flows was $11.2 million for the year ended December 31, 2020. Finance lease liabilities arising from obtaining new or modified right-of-use assets, net of reductions resulting from certain lease modifications, were approximately $51.3 million for the year ended December 31, 2020. Cash paid for finance lease liabilities and finance lease liabilities arising from obtaining new or modified right-of-use assets were not material for the year ended December 31, 2019. In connection with the Merger, we acquired right-of-use assets and assumed lease liabilities of $256.2 million and $272.0 million, respectively.

Rent expense on all operating leases for the year ended December 31, 2018 was $47.1 million.
LEASES LEASESOur leases consist primarily of operating real estate leases for office space and data centers in the markets in which we conduct business. We also have operating and finance leases for computer and other equipment. Many of our leases include escalating rental payments and incentives, as well as termination and renewal options. Certain of our lease agreements provide that we pay the cost of property taxes, insurance and maintenance. As described in "Note 1—Basis of Presentation and Summary of Significant Accounting Policies," we adopted ASU 2016-02 on January 1, 2019. Unless otherwise indicated, the following information in this footnote applies only to periods after December 31, 2018.
As of December 31, 2020 and 2019, right-of-use assets and lease liabilities consisted of the following:
Balance Sheet LocationDecember 31, 2020December 31, 2019
(in thousands)
Assets:
Operating lease right-of-use assets:
Real estateOther noncurrent assets$425,376 $355,063 
Computer equipmentOther noncurrent assets54,959 80,427 
OtherOther noncurrent assets862 1,310 
Total operating lease right-of-use-assets$481,197 $436,800 
Finance lease right-of-use assets:
Computer equipmentProperty and equipment, net$26,737 $21,901 
Other equipmentProperty and equipment, net45,560 — 
OtherProperty and equipment, net4,260 4,808 
76,557 26,709 
Less accumulated depreciation:
Computer equipmentProperty and equipment, net(6,602)(2,190)
Other equipmentProperty and equipment, net(8,628)— 
OtherProperty and equipment, net(869)(234)
Total accumulated depreciation(16,099)(2,424)
Total finance lease right-of-use assets60,458 24,285 
Total right-of-use assets(1)
$541,655 $461,085 
Liabilities:
Operating lease liabilities (current)Accounts payable and accrued liabilities$103,706 $88,812 
Operating lease liabilities (noncurrent)Other noncurrent liabilities448,016 397,488 
Finance lease liabilities (current)Current portion of long-term debt18,217 6,570 
Finance lease liabilities (noncurrent)Long-term debt57,772 26,426 
Total lease liabilities$627,711 $519,296 

(1) As of December 31, 2020 and 2019, approximately 72% and 82% of our right-of-use assets were located in the United States.

The weighted-average remaining lease term for operating and finance leases at December 31, 2020 was 7.4 years and 4.3 years, respectively. The weighted-average remaining lease term for operating and finance leases at December 31, 2019 was 7.4 years and 5.1 years, respectively. As of December 31, 2020, the weighted-average discount rate used in the measurement of operating and finance lease liabilities was 3.5% and 3.3%, respectively. As of December 31, 2019, the weighted-average discount rate used in the measurement of operating and finance lease liabilities was 4.1% and 2.8%, respectively.
As of December 31, 2020, maturities of lease liabilities were as follows:
Operating LeasesFinance Leases
(in thousands)
Year ending December 31,
2021$122,002 $25,841 
2022107,349 18,950 
202376,127 17,346 
202466,309 15,682 
202556,508 2,834 
2026 and thereafter204,895 — 
Total lease payments(1)
633,190 80,653 
Imputed interest(81,468)(4,664)
Total lease liabilities$551,722 $75,989 

(1) Total operating lease payments do not include approximately $147.5 million for operating leases that had not yet commenced at December 31, 2020. Total finance lease payments do not include approximately $18.1 million for finance leases that had not yet commenced at December 31, 2020. We expect the lease commencement dates for these leases to occur in 2021.

Operating lease costs in our consolidated statement of income for the year ended December 31, 2020 were $147.0 million, including $108.4 million in selling, general and administrative expenses and $38.6 million in cost of services. Total lease costs for the year ended December 31, 2020 include variable lease costs of approximately $17.9 million, which are primarily comprised of the cost of property taxes, insurance and maintenance. Finance lease costs for the year ended December 31, 2020 were $16.3 million, including $14.6 million of amortization on right-of use assets and $1.6 million of interest on lease liabilities. Lease costs for leases with a term of less than 12 months were not material for the year ended December 31, 2020.

Operating lease costs in our consolidated statement of income for the year ended December 31, 2019 were $85.9 million, including $71.0 million in selling, general and administrative expenses and $14.9 million in cost of services. Total lease costs for the year ended December 31, 2019 include variable lease costs of approximately $19.1 million, which are primarily comprised of the cost of property taxes, insurance and maintenance. Finance lease costs and lease costs for leases with a term of less than 12 months were not material for the year ended December 31, 2019.

Cash paid for amounts included in the measurement of operating lease liabilities for the years ended December 31, 2020 and 2019 was $117.7 million and $70.4 million, respectively, which are included as a component of cash provided by operating activities in the consolidated statement of cash flows. Operating lease liabilities arising from obtaining new or modified right-of-use assets, net of reductions resulting from certain lease modifications, were approximately $158.6 million and $28.4 million for the years ended December 31, 2020 and 2019, respectively. Cash paid for amounts included in the measurement of finance lease liabilities that is included as a component of cash used in financing activities in the consolidated statement of cash flows was $11.2 million for the year ended December 31, 2020. Finance lease liabilities arising from obtaining new or modified right-of-use assets, net of reductions resulting from certain lease modifications, were approximately $51.3 million for the year ended December 31, 2020. Cash paid for finance lease liabilities and finance lease liabilities arising from obtaining new or modified right-of-use assets were not material for the year ended December 31, 2019. In connection with the Merger, we acquired right-of-use assets and assumed lease liabilities of $256.2 million and $272.0 million, respectively.

Rent expense on all operating leases for the year ended December 31, 2018 was $47.1 million.