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LEASES (Tables)

3 Months Ended

Mar. 31, 2021


	Three Months Ended March 31,
(in thousands)		2021		2020
Fixed lease costs		$	300	$	4,818
Short-term lease costs		459		455
Variable lease costs		1,387		1,278
		$	2,146	$	6,551

Schedule of right of use asset and lease liabilities


(in thousands)	March 31, 2021		December 31, 2020
Right of use assets (1)	$	44,330	$	67,651
Lease liabilities (2)	$	14,161	$	18,541
Long-term lease liabilities	$	36,471	$	59,053

(1) Represents the Company’s right to use the leased asset during the lease term. Included in other long-term assets. (2) Included in other current liabilities.

Schedule of weighted average and discount rate

Weighted-average remaining lease term and discount rate for the Company’s leases were:


	March 31, 2021		December 31, 2020
Weighted-average remaining lease term	5.1 years		4.7 years
Weighted-average discount rate (1)	4.7	%	5.4	%

(1) The rates implicit in most of the Company’s leases are not readily determinable. Therefore, the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur to borrow an amount equal to the lease payments on a collateralized basis over the lease term in a similar economic environment.

Schedule of lease maturities after adoption of 842

Maturities of lease liabilities:


(in thousands)	March 31, 2021
1 year or less	$	13,216
1-2 years	11,538
2-3 years	10,896
3-4 years	7,571
Greater than 4 years	14,274
Total lease payments	57,495
Less: imputed interest (1)	(6,863)
	$	50,632

(1) Lease liabilities are measured at the present value of the remaining lease payments using a discount rate determined at lease commencement, unless the discount rate is updated due to a lease reassessment event.

Schedule of supplemental cash flow lease information

Cash flow information


	Three Months Ended March 31,
(in thousands)	2021		2020
Cash paid for leases	$	6,716	$	5,520
Right of use assets recognized for new leases and amendments (non-cash)	$	714	$	551