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Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases | Note 5 – Leases The components of lease expense were as follows (in thousands):
|  | Year Ended |  |  | Year Ended |
|  | December 31, 2020 |  |  | December 31, 2019 |
Operating lease cost |  | $ | 16,188 |  |  | $ | 15,005 |
Short-term lease cost |  |  | 330 |  |  |  | 498 |
Variable lease cost |  |  | 1,871 |  |  |  | 5,318 |
Sublease income |  |  | (256 | ) |  |  | (205 | )
Total lease cost |  | $ | 18,133 |  |  | $ | 20,616 |
Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):
|  | Year Ended |  |  | Year Ended |
|  | December 31, 2020 |  |  | December 31, 2019 |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 10,577 |  |  | $ | 10,953 |
Operating ROU assets obtained in exchange for lease obligations |  | $ | 12,200 |  |  | $ | 18,497 |
Weighted-average remaining lease term - operating leases (years) |  |  | 6.4 |  |  |  | 6.4 |
Weighted-average discount rate - operating leases |  |  | 4.6 | % |  |  | 5.1 | %
Future minimum lease payments under non-cancellable leases as of December 31, 2020 are as follows (in thousands):
2021 |  | $ | 15,425 |
2022 |  |  | 15,468 |
2023 |  |  | 15,070 |
2024 |  |  | 14,687 |
2025 |  |  | 12,700 |
Thereafter |  |  | 21,109 |
Total lease payments |  |  | 94,459 |
Less imputed interest |  |  | (12,164 | )
Present value of lease liabilities |  | $ | 82,295 |
Lease balances are as follows (in thousands):
|  | As of |
|  | December 31, 2020 |
Operating lease ROU assets |  | $ | 69,296 |
Short-term operating lease liabilities (1) |  | $ | 11,972 |
Non-current operating lease liabilities |  |  | 70,323 |
Total operating lease liabilities |  | $ | 82,295 |
(1) | Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.
The Company’s leases do not contain residual value guarantees or material restrictions or covenants, and all sublease transactions are not material. During the fourth quarter of 2020, the Company received a variable incentive payment of $3.5 million from one of its landlords to terminate the related office space lease early. This amount was recognized as a reduction in rent expense. During the year ended December 31, 2020, the Company recorded $2.3 million of ROU asset impairments and $1.1 million of leasehold improvement impairments related to a facility lease from the SiriusDecisions acquisition that the Company no longer used as a result of the integration of SiriusDecisions. The leasehold improvements were originally recorded in property and equipment, net in the Consolidated Balance Sheets. The fair value of the asset group was determined using a discounted cash flow model, which required the use of estimates, including projected cash flows for the related assets, the selection of discount rate used in the model, and regional real estate industry data. The fair value of the asset group was allocated to the ROU asset and leasehold improvements based on their relative carrying values. The impairments are included in acquisition and integration costs in the Consolidated Statements of Operations. The Company did not have any lease impairments or abandonments during 2019 or 2018.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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