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LEASES (Tables)
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of Lease Cost
The following summarizes right-of-use assets as of December 31, 2020 and 2019 (in thousands):
December 31, 2020December 31, 2019
Right-of-use assets - operating leases$107,509 $133,832 
Right-of-use assets - finance leases (1)
21,523 28,193 
Total right-of-use assets, gross129,032 162,025 
Less: accumulated depreciation and amortization (44,590)(36,380)
Right-of-use assets, net $84,442 $125,645 
(1)Right-of-use assets for finance leases are included in Property, equipment and software, net on the consolidated balance sheet.
The following table summarizes our lease costs and sublease income for the year ended December 31, 2020 and 2019 (in thousands):
Year Ended December 31,
20202019
Financing lease cost:
Amortization of right-of-use assets$6,737 $18,922 
Interest on lease liabilities522 1,021 
Total finance lease cost7,259 19,943 
Operating lease cost (1) (2)
30,870 34,397 
Variable lease cost (3)
8,143 8,551 
Short-term lease cost313 365 
Sublease income, gross (4)
(4,693)(5,045)
Total lease cost$41,892 $58,211 
(1)Rent expense under operating leases was $40.1 million for the year ended December 31, 2018.
(2)Operating lease costs presented as Selling, general and administrative and Restructuring and related charges totaled $23.1 million and $7.8 million in the consolidated statements of operations for the year ended December 31, 2020.
(3)Variable lease costs presented as Selling, general and administrative and Restructuring and related charges totaled $7.0 million and $1.1 million in the consolidated statements of operations for the year ended December 31, 2020.
(4)Sublease income, gross presented as Selling, general and administrative and Restructuring and related charges totaled $1.2 million and $3.5 million in the consolidated statements of operations for the year ended December 31, 2020. Sublease income was $6.5 million for the year ended December 31, 2018.
Schedule of Finance Lease Liabilities
As of December 31, 2020, the future payments under finance leases and operating leases for each of the next five years and thereafter are as follows (in thousands):
Finance LeasesOperating Leases
2021$4,717 $38,690 
2022715 35,451 
202312 27,025 
2024— 19,599 
2025— 16,175 
Thereafter — 1,701 
Total minimum lease payments5,444 138,641 
Less: Amount representing interest(92)(14,581)
Present value of net minimum lease payments5,352 124,060 
Less: Current portion of lease obligations(4,622)(33,133)
Total long-term lease obligations$730 $90,927 
Schedule of Operating Lease Liabilities
As of December 31, 2020, the future payments under finance leases and operating leases for each of the next five years and thereafter are as follows (in thousands):
Finance LeasesOperating Leases
2021$4,717 $38,690 
2022715 35,451 
202312 27,025 
2024— 19,599 
2025— 16,175 
Thereafter — 1,701 
Total minimum lease payments5,444 138,641 
Less: Amount representing interest(92)(14,581)
Present value of net minimum lease payments5,352 124,060 
Less: Current portion of lease obligations(4,622)(33,133)
Total long-term lease obligations$730 $90,927 
Schedule of Lease Income
As of December 31, 2020, the future amounts due under subleases for each of the next five years and thereafter are as follows (in thousands):
Subleases
2021$5,065 
20225,103 
20234,385 
20242,333 
20252,362 
Thereafter197 
Total future sublease income $19,445 
Schedule of Lease Term and Discount Rates
As of December 31, 2020, the weighted-average remaining lease term and weighted-average discount rate for our finance leases and operating leases were as follows:
Finance LeasesOperating Leases
Weighted-average lease term1 year4 years
Weighted-average discount rate5.4 %5.4 %