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Leases

6 Months Ended

Jun. 30, 2022

As of June 30, 2022, the weighted average remaining lease term was 8.2 and 3.3 years for operating and finance leases, respectively. As of June 30, 2022, the weighted average discount rate was 3.6% 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,
	2022		2021			2022		2021
Operating lease expense
Operating lease cost	$	10,261	$	12,400		$	20,700	$	25,215
Variable lease cost		1,494		1,656			2,651		3,024
Short-term lease cost		67		238			97		577
Sublease income		—		(1,828	)		—		(3,812	)
Finance lease expense
Amortization of right-of-use assets		546		606			1,102		1,217
Interest on lease liabilities		59		83			125		171
Total lease expense	$	12,427	$	13,155		$	24,675	$	26,392

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

	Six Months Ended June 30,
	2022		2021
Operating cash outflow from operating leases	$	19,895	$	27,470
Operating cash outflow from finance leases	$	128	$	173
Financing cash outflow from finance leases	$	927	$	956
Right-of-use assets obtained in exchange for operating lease obligations	$	25,793	$	13,729
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
2022	$	18,364	$	997
2023		26,495		1,926
2024		19,945		1,823
2025		14,381		1,296
2026		8,387		261
Thereafter		49,038		—
Total		136,610		6,303
Less: Finance charges		17,990		393
Total principal liability	$	118,620	$	5,910

The Company has additional lease liabilities of $0.3 million which have not yet commenced as of June 30, 2022, and as such, have not been recognized on the consolidated balance sheets.