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Leases | 3 Months Ended
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Mar. 31, 2022
Leases [Abstract] |
Leases | (11)Leases The Company enters into operating leases primarily for standalone homes, luxury condos, and hotel rooms. The Company determines if an arrangement is a lease, or contains a lease, including embedded leases, at inception and records the leases in the Company’s financial statements upon later of ASC 842 adoption date of January 1, 2022, or lease commencement, which is the date when the underlying asset is made available for use by the lessor. Leases have initial terms of up to 10 years, and generally contain extension options at the approval of both parties. We have generally not included these renewal periods in the lease term as it is not reasonably certain that we will exercise the renewal option. Additionally, while the Company reserves termination rights on the majority of their leased properties, it is not reasonably certain to exercise any of its termination options. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. The following table details the composition of operating lease expense for the three months ended March 31, 2022: ​
​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 31, 2022
​ | ​ | (in thousands)
​ | ​ | (As Restated)
Operating lease expense | ​ | $ | 18,327
Variable lease expense | ​ |  | 659
​ As of March 31, 2022, the maturities of the Company’s operating lease liabilities (excluding short-term leases) were as follows (in thousands): ​
​ | ​ | ​ | ​
​ |  | Operating Leases
​ | ​ | (As Restated)
Remainder of 2022 | ​ | $ | 56,140
Year ending December 31, 2023 | ​ |  | 59,137
Year ending December 31, 2024 | ​ |  | 37,853
Year ending December 31, 2025 | ​ |  | 29,712
Year ending December 31, 2026 | ​ |  | 22,030
Thereafter | ​ |  | 28,058
Total minimum lease payments | ​ | ​ | 232,930
Less: interest expense | ​ |  | (11,127)
Present value of lease obligations | ​ |  | 221,803
Less: current lease obligations | ​ |  | (69,207)
Long-term lease obligations | ​ | $ | 152,596
​ As previously reported in the Company’s audited financial statements for the year ended December 31, 2021 and under legacy lease accounting (ASC 840), future minimum lease payments under non-cancellable leases as of December 31, 2021 are as follows: ​
​ | ​ | ​ | ​
Years ending December 31 |  | Amount
​ | ​ | (in thousands)
2022 | ​ | $ | 69,329
2023 | ​ |  | 58,744
2024 | ​ |  | 37,850
2025 | ​ |  | 28,203
2026 | ​ |  | 20,345
Thereafter | ​ |  | 25,716
Total | ​ | $ | 240,187
​ The following table presents additional information about our lease obligations as of March 31, 2022: ​
​ | ​ | ​ | ​
​ |  | As of March 31, 2022 |
​ | ​ | (As Restated) | ​
Weighted-average remaining lease term (in years): |  |  | ​
Operating leases |  | 3.81 | ​
​ | ​ | ​ | ​
Weighted-average discount rate: |  |  | ​
Operating leases |  | 5.01 | %
​ The following table presents supplemental cash flow information for the three months ended March 31, 2022: ​
​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ |  | March 31, 2022
​ | ​ | (in thousands)
​ | ​ | (As Restated)
Cash paid for amounts included in the measurement of lease liabilities: |  | ​ |
Operating cash flows from operating leases | ​ | $ | 19,279
​

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- Definition The entire disclosure of information about leases. + References No definition available. + Details
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- References No definition available. + Details
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