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Lease | 12 Months Ended
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Dec. 31, 2020
Lease [Abstract] |
LEASE | 10. LEASE From the Perspective of Lessee The Group leases real estate for terms between 2 to 20 years from real estate companies. The Group generally does not have options to extend or terminate leases, as the renewal or termination of relevant lease is on negotiation basis. Lease commences when the landlords make the space available for the Group to use. The Group sub-leased the leased premises to provide various lease solutions. All of the Group’s leases are operating leases under ASC 842. Supplemental balance sheet information related to the leases were as follows:
|  | As of December 31,
|  | 2019 |  | 2020
|  | RMB |  | RMB
ROU assets |  | 1,851,729 |  |  | 879,348 |
Operating lease liabilities – current |  | (589,467 | ) |  | (365,049 | )
Operating lease liabilities – non current |  | (1,393,691 | ) |  | (580,562 | )
Weighted average remaining lease terms |  | 7.60 year |  |  | 7.71 year |
Weighted average incremental borrowing rate |  | 10.53% |  |  | 10.75% |
The losses from termination of leases for the years ended December 31, 2018, 2019 and 2020 were RMB nil, RMB nil and RMB 168,722. The components of lease expenses for the years ended December 31, 2018, 2019 and 2020 were as follows:
|  | For the years ended December 31,
|  | 2018 |  | 2019 |  | 2020
|  | RMB |  | RMB |  | RMB
Operating lease expenses for variable payments |  | 34 |  | 1,151 |  | 453
Operating lease expenses for fixed payments |  | 381,306 |  | 506,026 |  | 337,608
Short-term lease expenses |  | 17,492 |  | 7,277 |  | 10,265
Total |  | 398,832 |  | 514,454 |  | 348,326
|  | For the years ended December 31,
|  | 2018 |  | 2019 |  | 2020
|  | RMB |  | RMB |  | RMB
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows for operating leases |  | 254,084 |  | 440,170 |  | 207,803
Supplemental noncash information:
|  | For the years ended December 31,
|  | 2018 |  | 2019 |  | 2020
|  | RMB |  | RMB |  | RMB
ROU assets acquired in exchange for equity interests |  | 155,350 |  | — |  | —
Operating lease liabilities arising from obtaining ROU assets |  | 977,539 |  | 315,027 |  | 11,902
The future lease payments as of December 31, 2020 were as follows:
|  | As of December 31, 2020
|  | RMB
2021 |  | 365,049 |
2022 |  | 201,508 |
2023 |  | 174,115 |
2024 |  | 150,189 |
2025 |  | 127,986 |
Thereafter |  | 317,478 |
Total lease payments |  | 1,336,325 |
Less: imputed interest |  | (390,714 | )
Total lease liabilities |  | 945,611 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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