XML 33 R17.htm IDEA: XBRL DOCUMENT

Leases

6 Months Ended

Jun. 30, 2021

9. LEASES

Future lease payments under non-cancelable leases at June 30, 2021 and December 31, 2020 consisted of the following:

	June 30,			December 31,
(In thousands)	2021			2020
2021	$	8,793		$	16,882
2022		17,001			17,001
2023		17,266			17,266
2024		17,536			17,536
2025		17,810			17,810
Thereafter		109,002			109,311
Total operating lease payments	$	187,408		$	195,806
Less: imputed interest		(59,897	)		(60,610	)
Total operating lease liabilities	$	127,511		$	135,196

At June 30, 2021, the weighted average incremental borrowing rate and the weighted average remaining lease term for all operating leases held by the Company were 5.26% and 12.2 years, respectively. During the three and six months ended June 30, 2021, cash paid for lease liabilities was $4.4 million and $8.1 million, respectively, as compared to $4.5 million and $6.9 million, respectively, during the three and six months ended June 30, 2020. The Company recorded operating lease expense of $4.4 million and $8.6 million during the three and six months ended June 30, 2021, respectively, as compared to $4.7 million and $8.6 million during the three and six months ended June 30, 2020, respectively.