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LEASES | 6 Months Ended
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Jun. 30, 2021
LEASES |
LEASES | 4. LEASES ​ The Company has operating and financing leases for towers, land, corporate offices, retail facilities, and data transport capacity. The lease terms are generally between 3 and 10 years, some of which include additional renewal options. ​ Supplemental lease information ​ The components of lease expense were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Three months ended June 30, 2021 | ​ | Three months ended June 30, 2020 | ​ | Six months ended June 30, 2021 | ​ | Six months ended June 30, 2020
Operating lease cost: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease cost | $ | 4,248 | ​ | $ | 4,029 | ​ | $ | 8,473 | ​ | $ | 8,076
Short-term lease cost | ​ | 729 | ​ | ​ | 729 | ​ | ​ | 1,137 | ​ | ​ | 1,271
Variable lease cost | ​ | 1,016 | ​ | ​ | 1,540 | ​ | ​ | 2,080 | ​ | ​ | 2,343
Total operating lease cost | $ | 5,993 | ​ | $ | 6,298 | ​ | $ | 11,690 | ​ | $ | 11,690
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finance lease cost: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of right-of-use asset | $ | 615 | ​ | $ | 522 | ​ | $ | 1,190 | ​ | $ | 1,094
Variable costs | ​ | 197 | ​ | ​ | 186 | ​ | ​ | 392 | ​ | ​ | 458
Total finance lease cost | $ | 812 | ​ | $ | 708 | ​ | $ | 1,582 | ​ | $ | 1,552
​ During the six month periods ended June 30, 2021 and 2020, the Company paid $7.6 million and $7.2 million, respectively, for operating lease liabilities. During the six months ended June 30, 2021 and 2020, the Company recorded $6.3 million and $1.7 million, respectively, of operating lease liabilities arising from ROU assets. ​ At June 30, 2021, finance leases with a cost of $26.7 million and accumulated amortization of $10.7 million were included in property, plant and equipment. During the six months ended June 30, 2021, the Company paid $0.5 million for finance lease liabilities and recorded $1.4 million of additional finance lease liabilities. At June 30, 2021, finance leases had a lease liability of $2.1 million, of which $0.4 million was current. At December 31, 2020, finance leases with a cost of $25.4 million and accumulated amortization of $9.5 million were included in property, plant and equipment. ​ The weighted average remaining lease terms and discount rates as of June 30, 2021 and December 31, 2020 are noted in the table below: ​
​ | ​ | ​ | ​ | ​ | ​
​ | June 30, 2021 | ​ | December 31, 2020
Weighted-average remaining lease term | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | 5.7 years | ​ | ​ | 5.9 years
Financing leases | ​ | 10.5 years | ​ | ​ | 10.9 years
​ | ​ | ​ | ​ | ​ | ​
Weighted-average discount rate | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | 4.8% | ​ | ​ | 5.0%
Financing leases | ​ | 4.3% | ​ | ​ | 3.3%
​ Maturities of lease liabilities as of June 30, 2021 were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​
​ | Operating Leases | ​ | Financing Leases
2021 (excluding the six months ended June 30, 2021) | $ | 8,184 | ​ | $ | 251
2022 | ​ | 15,243 | ​ | ​ | 501
2023 | ​ | 12,846 | ​ | ​ | 501
2024 | ​ | 11,702 | ​ | ​ | 383
2025 | ​ | 8,800 | ​ | ​ | 285
Thereafter | ​ | 14,599 | ​ | ​ | 522
Total lease payments | ​ | 71,374 | ​ | ​ | 2,443
Less imputed interest | ​ | (9,323) | ​ | ​ | (317)
Total | $ | 62,051 | ​ | $ | 2,126
​ Maturities of lease liabilities as of December 31, 2020 were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​
​ | Operating Leases | ​ | Financing Leases
2021 | $ | 14,877 | ​ | $ | 334
2022 | ​ | 14,202 | ​ | ​ | 333
2023 | ​ | 11,799 | ​ | ​ | 333
2024 | ​ | 10,633 | ​ | ​ | 211
2025 | ​ | 7,816 | ​ | ​ | -
Thereafter | ​ | 13,094 | ​ | ​ | -
Total lease payments | ​ | 72,421 | ​ | ​ | 1,211
Less imputed interest | ​ | (10,097) | ​ | ​ | (82)
Total | $ | 62,324 | ​ | $ | 1,129
​ As of June 30, 2021, the Company did not have any material operating or finance leases that have not yet commenced.

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