Lessee Leases

9 Months Ended

Sep. 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 September 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:


	September 30, 2021

	(In thousands)
Remaining three months of 2021	$	3,782
2022	14,783
2023	10,949
2024	9,207
2025	6,463
Thereafter	17,275
Total operating lease payments	62,459
Present value adjustment	(9,014)
Total operating lease liabilities (1)	$	53,445

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(1) Amount consists of a current and long-term portion of operating lease liabilities of $13.0 million and $40.4 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 $3.8 million and $3.5 million for the three months ended September 30, 2021 and 2020, respectively, and $11.1 million and $10.5 million for the nine months ended September 30, 2021 and 2020, respectively. Short-term lease costs and variable lease costs were immaterial for the three and nine months ended September 30, 2021 and 2020.

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


	Nine Months Ended September 30,
	2021		2020

	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	11,774	$	10,543
Right-of-use assets obtained in exchange for new lease liabilities	$	2,804	$	1,559

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


	September 30, 2021		December 31, 2020
Weighted-average remaining lease term, years	5.4		5.9
Weighted-average discount rate, %	5.7	%	5.8	%