Leases

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Note 8: Leases

We are lessee for corporate office space in Seattle, Washington and Seoul, Korea. The lessor for our Seoul, Korea leases is our parent, DoubleU Games (see Note 11). Our leases have remaining terms of three to five years. We do not have any finance leases. Our total variable and short-term lease payments are immaterial for all periods presented.

The Seattle, Washington lease originated in July 2012 and consists of 49,375 square feet. The lease will expire in October 2024.

In February 2019, we executed new subleases with our parent, DUG, for 21,218 square feet of office space in Gangnam-gu, Seoul, Korea. The lease term will expire in September 2023.

Supplemental balance sheet and cash flow information related to operating leases is as follows (in thousands):



	As of March 31, 2021		As of December 31, 2020
Operating lease right-of-use asset	$	9,974	$	10,864
Accrued rent		819		877

Total operating lease right-of-use asset, net	$	9,155	$	9,987
Short-term operating lease liabilities	$	3,014	$	3,033
Long-term operating lease liabilities	$	6,960	$	7,831

Total operating lease liabilities	$	9,974	$	10,864

Supplemental cash flow information related to leases was as follows (in thousands):



	Three months ended March 31, 2021		Year ended December 31, 2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	871	$	3,192

Note 10: Leases

On January 1, 2019, we adopted ASC 842 using the modified retrospective method. Our operating leases primarily consist of real estate leases for office space and do not have any non-lease components. We do not have any finance leases. Our total variable and short-term lease payments are immaterial for all periods presented.

Upon adoption we recognized a right-of-use asset and lease liability of $9.2 million and $9.4 million, respectively, related to our real estate operating lease for our corporate office space in Seattle, Washington. We used our estimated incremental borrowing rate of 4.97% to initially measure our right-of-use asset and lease liability for this lease.

The Seattle, Washington lease originated in July 2012 and consists of 49,375 square feet. In September 2018, the only option to extend, which is effective October 1, 2019, was exercised to extend the term for 61 months. The extended lease will expire in October 2024.

The Gangnam-gu, Seoul, Korea office space is subleased from our parent, DUG and consists of 31,636 square feet. The subleases originated in February 2019 and were amended in October 2020 to reflect an overall increase to DUG (sublessor). The subleases will expire in September 2023. A right-of-use asset and lease liability of $5.6 million was recognized at the lease commencement date. An estimated incremental borrowing rate of 6.07%, was used to initially measure our right-of-use asset and lease liability for this lease.

Supplemental balance sheet and cash flow information related to operating leases is as follows:



	December 31, 2020		December 31, 2019
Operating lease right-of-use asset	$	10,864	$	13,219
Accrued rent		877		835

Total operating lease right-of-use asset, net	$	9,987	$	12,384
Short-term operating lease liabilities	$	3,033	$	2,795
Long-term operating lease liabilities		7,831		10,424

Total operating lease liabilities	$	10,864	$	13,219


Cash paid for amounts included in the measurement of operating lease liabilities	$3.2 million	$2.5 million

Maturities of lease liabilities are as follows (in thousands):



As of December 31, 2020	Seattle Lease		Seoul Lease (Related Party)
2021	$	1,938	$	1,443
2022		1,987		1,471
2023		2,037		1,267
2024		1,732		—
2025		—		—


Thereafter		—			—
Less: Imputed Interest		(683	)		(328	)
Total	$	7,011		$	3,853

Operating lease costs were $3.2 million and $3.1 million for the years ended December 31, 2020 and December 31, 2019, respectively.