Lessee Leases

6 Months Ended

Jun. 30, 2021

Lessee Leases The Company has operating leases for office buildings, data centers, office equipment, and vehicles. The Company’s leases have initial terms of one to 12 years. As of June 30, 2021, the Company did not have any additional material operating leases that were entered into, but not yet commenced.

The maturity schedule of future minimum lease payments under operating leases and the reconciliation to the operating lease liabilities reported on the Condensed Consolidated Balance Sheets was as follows:


	June 30, 2021

	(In thousands)
Remaining six months of 2021	$	7,482
2022	14,174
2023	10,304
2024	8,921
2025	6,434
Thereafter	17,277
Total operating lease payments	64,592
Present value adjustment	(9,710)
Total operating lease liabilities (1)	$	54,882

_________________________________________________

(1) Amount consists of a current and long-term portion of operating lease liabilities of $12.4 million and $42.5 million, respectively. The current portion of the operating lease liabilities is included in accrued liabilities in the Condensed Consolidated Balance Sheets.

Operating lease costs were $3.6 million and $3.4 million for the three months ended June 30, 2021 and 2020, respectively, and $7.3 million and $7.0 million for the six months ended June 30, 2021 and 2020, respectively. Short-term lease costs and variable lease costs were immaterial for the three and six months ended June 30, 2021 and 2020.

The following table summarizes supplemental cash flow information related to the Company’s operating leases for the six months ended June 30, 2021 and 2020:


	Six Months Ended June 30,
	2021		2020

	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	7,863	$	7,067
Right-of-use assets obtained in exchange for new lease liabilities	$	906	$	1,335

The following table summarizes the weighted-average remaining lease term and weighted-average discount rate related to the Company’s operating leases as of June 30, 2021 and December 31, 2020:


	June 30, 2021		December 31, 2020
Weighted-average remaining lease term, years	5.6		5.9
Weighted-average discount rate, %	5.8	%	5.8	%