Leases

12 Months Ended

Dec. 31, 2020

13. Leases

We have operating and finance leases for corporate offices, datacenters, data communication equipment and database software. Our operating leases have remaining lease terms of less than one year to eight years and our finance leases have remaining lease terms of less than one year. Some of our operating leases may include one or more options to renew and can extend the lease term from one year to ten years. The exercise of operating lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Some of our operating lease agreements include options to terminate the leases upon written notice and may include early termination penalties. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of December 31, 2020, assets recorded under finance leases were $12,265 and accumulated depreciation and amortization associated with finance leases was $7,533. As of December 31, 2019, assets recorded under finance leases were $12,280 and accumulated depreciation and amortization associated with finance leases was $5,387.

The components of lease expense were as follows:


	Year Ended December 31,
	2020		2019
Operating lease expense	$	3,267	$	3,628
Finance lease expense:
Depreciation and amortization of assets included in property and equipment, net	$	2,161	$	2,103
Interest on lease liabilities		18		56
Total finance lease expense	$	2,179	$	2,159

Interest on lease liabilities capitalized, which is excluded from the above table, during the years ended December 31, 2020 and 2019, amounted to $44 and $116, respectively.

Supplemental cash flow information related to leases was as follows:


	Year Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(3,866)	$	(3,949)
Operating cash flows from finance leases		(63)		(172)
Financing cash flows from finance leases		(2,720)		(4,201)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		—		17,595

Operating lease ROU assets obtained in exchange for lease obligations for the year ended December 31, 2019 include the effects of the adoption of ASC 842, Leases, effective January 1, 2019, which resulted in the recording of $16,916 of operating lease ROU assets as of January 1, 2019.

Other information related to leases was as follows:


	December 31,
	2020		2019
Weighted average remaining lease term:
Operating leases	5.2	years	6.1	years
Financing leases	0.3	years	1.2	years
Weighted average discount rate:
Operating leases	5.3	%	5.3	%
Finance leases	3.2	%	3.2	%

Future minimum lease payments under non-cancellable leases as of December 31, 2020 as presented in accordance with ASC 842 were as follows:


	Operating		Finance
Years ended December 31,	Leases		Leases
2021	$	3,393	$	574
2022		3,692		—
2023		3,645		—
2024		3,655		—
2025		3,707		—
Thereafter		1,528		—
Total future minimum lease payments		19,620		574
Less: Imputed interest		(2,501)		(1)
Total		17,119		573
Current portion of operating and finance leases		2,632		573
Long-term portion of operating and finance leases	$	14,487	$	—

Rent expense for our leases of office and other facilities, which was recorded on a straight-line basis over the term of the lease in accordance with ASC 840, Leases, for the year ended December 31, 2018 was $3,323.