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LEASES (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Right-of-use Lease Assets and Lease Liabilities

The Company's right-of-use lease assets and lease liabilities at March 31, 2022 and December 31, 2021 were as follows (in thousands):


	Classification	March 31, 2022		December 31, 2021
Assets:
Operating lease assets	Operating lease right-of-use assets	$	49,549	$	53,147
Finance lease assets*	Property and equipment, net	195		287
Total leased assets		$	49,744	$	53,434

Liabilities:
Current:
Operating	Operating lease liabilities	$	16,622	$	17,403
Finance	Accrued expenses and other	398		503
Noncurrent:
Operating	Operating lease liabilities, net of current	51,599		55,196
Finance	Other long-term liabilities	—		64
Total lease liabilities		$	68,619	$	73,166

* Finance lease assets were recorded net of accumulated depreciation of $1.9 million and $1.8 million at March 31, 2022 and December 31, 2021, respectively.

Schedule of Components of Lease Expense

The components of lease expense for the three months ended March 31, 2022 and 2021 were as follows (in thousands):


	Three months ended
		March 31, 2022		March 31, 2021

Operating lease cost*		$	4,630	$	8,837
Finance lease cost:
Amortization of leased assets		92		229
Interest on lease liabilities		6		26
Short-term lease cost		3,718		3,292
Variable lease costs (costs excluded from minimum fixed lease payments)**		826		2,158
Sublease income		(490)		(276)
Net lease cost		$	8,782	$	14,266

* Operating lease costs for the three months ended March 31, 2021 included $3.4 million of accelerated amortization for certain assets partially or fully vacated in 2021 with no intent or ability to sublease. No such accelerated amortization was recorded in the three months ended March 31, 2022.

** Variable lease costs for the three months ended March 31, 2021 included an accrual of $1.4 million for all future estimated variable expenses related to certain assets partially or fully vacated with no intent or ability to sublease. No such variable costs were accrued in the three months ended March 31, 2022.

Cash flow information related to the Company's leases for the three months ended March 31, 2022 and 2021 was as follows (in thousands):


	Three months ended
		March 31, 2022		March 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases		$	5,578	$	5,561
Operating cash flows for finance leases		$	6	$	26
Financing cash flows for finance leases		$	198	$	272

Other information related to the Company's leases as of March 31, 2022 and December 31, 2021 was as follows:


	March 31, 2022		December 31, 2021
Weighted average remaining lease term (years):
Operating leases	6.25		6.25
Finance leases	0.82		1.00
Weighted average discount rate:
Operating leases	5.72	%	5.61	%
Finance leases	3.74	%	4.15	%

Schedule of Future Minimum Fixed Lease Payments Under Noncancelable Operating Leases

Future minimum fixed lease payments under noncancelable leases at March 31, 2022 were as follows (in thousands):


	March 31, 2022
	Operating		Finance
	leases		leases
Remainder of 2022	$	15,153	$	342
2023	17,802		63
2024	10,469		—
2025	7,539		—
2026	6,488		—
2027 and beyond	24,850		—
Total lease payments	82,301		405
Less: interest	(14,080)		(7)
Present value of lease liabilities	$	68,221	$	398

Schedule of Future Minimum Fixed Lease Payments Under Noncancelable Finance Leases

Future minimum fixed lease payments under noncancelable leases at March 31, 2022 were as follows (in thousands):


	March 31, 2022
	Operating		Finance
	leases		leases
Remainder of 2022	$	15,153	$	342
2023	17,802		63
2024	10,469		—
2025	7,539		—
2026	6,488		—
2027 and beyond	24,850		—
Total lease payments	82,301		405
Less: interest	(14,080)		(7)
Present value of lease liabilities	$	68,221	$	398