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Leases (Tables)
6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Supplemental Information Related to Leases
Supplemental information related to leases is presented in the table below (in thousands, except weighted-average term and discount rate):
Three Months Ended
June 30,
Six Months Ended
June 30,
2021202020212020
Operating lease cost$2,357 $2,188 $4,695 $4,233 
Cash paid for amounts included in the measurement of operating lease liabilities2,905 2,469 5,677 4,728 
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities791 625 1,015 6,647 
June 30,
2021
December 31,
2020
Weighted-average remaining lease term — operating leases4.6 years4.9 years
Weighted-average discount rate — operating leases3.6 %3.6 %
Maturities of Lease Liabilities
Maturities of lease liabilities are as follows (in thousands):
Year Ended December 31,
Operating Leases(1)
Remainder of 2021$5,994 
202210,727 
20239,952 
20248,625 
20257,535 
2026 and thereafter4,769 
Total lease payments47,602 
Less: imputed interest(2)
3,779 
Present value of lease liabilities$43,823 
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(1)Operating lease payments exclude $2.6 million of legally binding minimum lease payments for leases executed but not yet commenced and includes $1.0 million for options to extend lease terms that were reasonably certain of being exercised.
(2)Imputed interest was calculated using the incremental borrowing rate applicable for each lease.