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Leases

6 Months Ended

Jun. 30, 2021

As of June 30, 2021, the weighted average remaining lease term was 6.6 and 4.2 years for operating and finance leases, respectively. As of June 30, 2021, the weighted average discount rate was 4.0% and 3.8% for operating and finance leases, respectively.

The components of lease expense were as follows (U.S. dollars in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Operating lease expense
Operating lease cost	$	12,400		$	12,869		$	25,215		$	26,005
Variable lease cost		1,656			410			3,024			1,384
Short-term lease cost		238			95			577			140
Sublease income		(1,828	)		(1,058	)		(3,812	)		(2,189	)
Finance lease expense
Amortization of right-of-use assets		606			—			1,217			—
Interest on lease liabilities		83			—			171			—
Total lease expense	$	13,155		$	12,316		$	26,392		$	25,340

Supplemental cash flow information related to leases was as follows (U.S. dollars in thousands):

	Six Months Ended June 30,
	2021		2020
Operating cash outflow from operating leases	$	27,470	$	25,955
Operating cash outflow from finance leases	$	173	$	—
Financing cash outflow from finance leases	$	956	$	—
Right-of-use assets obtained in exchange for operating lease obligations	$	13,729	$	31,178
Right-of-use assets obtained in exchange for finance lease obligations	$	59	$	—

Maturities of lease liabilities were as follows (U.S. dollars in thousands):

Year Ending December 31	Operating Leases		Finance Leases
2021	$	24,079	$	1,109
2022		34,753		2,230
2023		24,074		2,148
2024		18,965		2,035
2025		14,237		1,436
Thereafter		41,227		262
Total		157,335		9,220
Less: Finance charges		19,479		722
Total principal liability	$	137,856	$	8,498

The Company has additional lease liabilities of $3.6 million which have not yet commenced as of June 30, 2021, and as such, have not been recognized on the consolidated balance sheets.