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Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases | Leases The Company’s operating leases consist of office facilities, office equipment, and automobiles, and the Company’s finance lease consists of computer equipment. The finance lease is not material for the periods presented. As of December 31, 2020, the Company’s leases have remaining terms of less than one year to nine years, some of which include one or more options to renew, with renewal terms from one year to ten years and some of which include options to terminate the leases from less than one year to ten years. For contracts with lease and non‑lease components, the Company has elected not to allocate the contract consideration, and account for the lease and non-lease components as a single lease component. Payments under the Company’s lease arrangements are primarily fixed, however, certain lease agreements contain variable payments, which are expensed as incurred and not included in the operating lease assets and liabilities. Variable lease cost may include common area maintenance, property taxes, utilities, and fluctuations in rent due to a change in an index or rate. The Company has elected not to recognize a right‑of‑use asset or lease liability for short‑term leases (leases with a term of twelve months or less). Short‑term leases are recognized in the consolidated statement of operations on a straight‑line basis over the lease term. Short‑term lease expense was not material for the periods presented. The components of operating lease cost reflected in the consolidated statement of operations for the year ended December 31, 2020 were as follows:
| Year Ended
| December 31, 2020
Operating lease cost (1) | $ | 18,194 |
Variable lease cost | 3,881 |
Short-term lease cost | 399 |
Total operating lease cost | $ | 22,474 |
(1)Operating lease cost includes rent cost related to operating leases for office facilities of $17,417 for the year ended December 31, 2020. For the years ended December 31, 2019 and 2018, total rent expense related to operating leases recognized on straight‑line basis over the life of the lease under the prior lease standard (Topic 840) was $17,036 and $16,726, respectively. Other information related to leases for the year ended December 31, 2020 was as follows:
| Year Ended
| December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |
Operating cash flows from operating leases | $ | 18,384 |  |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 15,522 |  |
Weighted average remaining lease term — operating leases (in years) | 3.65 |
Weighted average discount rate — operating leases | 2.14 |  | %
Maturities of operating lease liabilities as of December 31, 2020 are as follows:
| December 31, 2020
2021 | $ | 17,666 |
2022 | 13,859 |
2023 | 8,801 |
2024 | 4,715 |
2025 | 3,528 |
Thereafter | 1,983 |
Total future lease payments | 50,552 |
Less: Imputed interest | (2,175) |
Total operating lease liabilities | $ | 48,377 |
As of December 31, 2020, the Company had additional operating lease minimum lease payments of $1,368 for executed leases that have not yet commenced, primarily for office locations. As of December 31, 2019, under the prior lease standard (Topic 840), future minimum lease payments under non‑cancelable operating leases are as follows:
| December 31, 2019
2020 | $ | 15,886 |
2021 | 13,186 |
2022 | 10,385 |
2023 | 6,572 |
2024 | 3,216 |
Thereafter | 2,771 |
Total minimum lease payments | $ | 52,016 |
Total financing lease liabilities as of December 31, 2020 were $296. Supplemental balance sheet information related to the financing lease as of December 31, 2020 is as follows:
| December 31, 2020
Property and equipment | $ | 572 |
Accumulated depreciation | (229) |
Property and equipment, net | $ | 343 |
Accruals and other current liabilities | $ | 197 |
Other liabilities | 99 |
Total financing lease liabilities | $ | 296 |
Leases | Leases The Company’s operating leases consist of office facilities, office equipment, and automobiles, and the Company’s finance lease consists of computer equipment. The finance lease is not material for the periods presented. As of December 31, 2020, the Company’s leases have remaining terms of less than one year to nine years, some of which include one or more options to renew, with renewal terms from one year to ten years and some of which include options to terminate the leases from less than one year to ten years. For contracts with lease and non‑lease components, the Company has elected not to allocate the contract consideration, and account for the lease and non-lease components as a single lease component. Payments under the Company’s lease arrangements are primarily fixed, however, certain lease agreements contain variable payments, which are expensed as incurred and not included in the operating lease assets and liabilities. Variable lease cost may include common area maintenance, property taxes, utilities, and fluctuations in rent due to a change in an index or rate. The Company has elected not to recognize a right‑of‑use asset or lease liability for short‑term leases (leases with a term of twelve months or less). Short‑term leases are recognized in the consolidated statement of operations on a straight‑line basis over the lease term. Short‑term lease expense was not material for the periods presented. The components of operating lease cost reflected in the consolidated statement of operations for the year ended December 31, 2020 were as follows:
| Year Ended
| December 31, 2020
Operating lease cost (1) | $ | 18,194 |
Variable lease cost | 3,881 |
Short-term lease cost | 399 |
Total operating lease cost | $ | 22,474 |
(1)Operating lease cost includes rent cost related to operating leases for office facilities of $17,417 for the year ended December 31, 2020. For the years ended December 31, 2019 and 2018, total rent expense related to operating leases recognized on straight‑line basis over the life of the lease under the prior lease standard (Topic 840) was $17,036 and $16,726, respectively. Other information related to leases for the year ended December 31, 2020 was as follows:
| Year Ended
| December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |
Operating cash flows from operating leases | $ | 18,384 |  |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 15,522 |  |
Weighted average remaining lease term — operating leases (in years) | 3.65 |
Weighted average discount rate — operating leases | 2.14 |  | %
Maturities of operating lease liabilities as of December 31, 2020 are as follows:
| December 31, 2020
2021 | $ | 17,666 |
2022 | 13,859 |
2023 | 8,801 |
2024 | 4,715 |
2025 | 3,528 |
Thereafter | 1,983 |
Total future lease payments | 50,552 |
Less: Imputed interest | (2,175) |
Total operating lease liabilities | $ | 48,377 |
As of December 31, 2020, the Company had additional operating lease minimum lease payments of $1,368 for executed leases that have not yet commenced, primarily for office locations. As of December 31, 2019, under the prior lease standard (Topic 840), future minimum lease payments under non‑cancelable operating leases are as follows:
| December 31, 2019
2020 | $ | 15,886 |
2021 | 13,186 |
2022 | 10,385 |
2023 | 6,572 |
2024 | 3,216 |
Thereafter | 2,771 |
Total minimum lease payments | $ | 52,016 |
Total financing lease liabilities as of December 31, 2020 were $296. Supplemental balance sheet information related to the financing lease as of December 31, 2020 is as follows:
| December 31, 2020
Property and equipment | $ | 572 |
Accumulated depreciation | (229) |
Property and equipment, net | $ | 343 |
Accruals and other current liabilities | $ | 197 |
Other liabilities | 99 |
Total financing lease liabilities | $ | 296 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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 + Details
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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 + Details
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