Leases

3 Months Ended

Mar. 31, 2021

Our leases have remaining lease terms of 3 to 9 years. Certain of these leases have free or escalating rent payment provisions. We recognize lease expense on a straight-line basis over the terms of the leases, although actual cash payment obligations under certain of these agreements fluctuate over the terms of the agreements. Most leases include options to renew, and the exercise of these options is at our discretion.

Total operating lease expenses were $2.0 million and $2.1 million for the three months ended March 31, 2021 and 2020, respectively and sublease income was immaterial for both periods.

The following table summarizes the lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheets as of the dates presented below (in thousands):


	March 31, 2021		December 31, 2020
Operating lease right-of-use assets	$	41,284	$	42,558

Lease liabilities – current	$	5,316	$	5,192
Lease liabilities – non-current	39,984		41,369
Total operating lease liabilities	$	45,300	$	46,561

Supplemental information related to leases are as follows (in thousands):


	March 31, 2021			December 31, 2020
Operating cash outflows from operating leases	$	1,900		$	7,090

Weighted-average remaining lease term of operating leases	7.0 years			7.2 years
Weighted-average discount rate used to recognize operating lease right-of-use-assets	5.4		%	5.4		%

As of March 31, 2021, maturities of operating lease liabilities are as follows (in thousands):


Year ending December 31,
Remainder of 2021	$	5,744
2022	7,701
2023	8,033
2024	7,832
2025	8,009
Thereafter	19,407
Total lease payments (1)	56,726
Less imputed interest	(11,426)
Total	$	45,300

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(1)Noncancellable sublease income for the remainder of 2021 and years ending December 31, 2022 and 2023 of $0.9 million, $0.4 million and $0.4 million, respectively, is not included in the table above.