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Leases

9 Months Ended

Sep. 30, 2021

As of September 30, 2021, the weighted average remaining lease term was 6.7 and 4.0 years for operating and finance leases, respectively. As of September 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 September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Operating lease expense
Operating lease cost	$	12,193		$	13,038		$	37,408		$	39,043
Variable lease cost		1,121			678			4,145			2,062
Short-term lease cost		13			118			590			258
Sublease income		(1,352	)		(1,075	)		(5,164	)		(3,264	)
Finance lease expense
Amortization of right-of-use assets		594			—			1,811			—
Interest on lease liabilities		77			—			248			—
Total lease expense	$	12,646		$	12,759		$	39,038		$	38,099

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

	Nine Months Ended September 30,
	2021		2020
Operating cash outflow from operating leases	$	40,072	$	40,865
Operating cash outflow from finance leases	$	250	$	—
Financing cash outflow from finance leases	$	1,409	$	—
Right-of-use assets obtained in exchange for operating lease obligations	$	19,120	$	62,514
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	$	11,911	$	535
2022		35,502		2,150
2023		24,955		2,069
2024		19,610		1,958
2025		14,725		1,385
Thereafter		41,327		262
Total		148,030		8,359
Less: Finance charges		18,241		622
Total principal liability	$	129,789	$	7,737

The Company has additional lease liabilities of $0.1 million which have not yet commenced as of September 30, 2021, and as such, have not been recognized on the consolidated balance sheets.