Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.1
Leases (Tables)
3 Months Ended
Mar. 31, 2023
Leases  
Schedule of lease cost and other information about leases

    

Three Months Ended March 31, 

(in thousands)

2023

2022

Lease cost:

Operating lease cost (1)

$

2,587

$

2,878

Finance lease cost

Depreciation of finance lease assets (2)

217

372

Interest on finance lease liabilities (3)

23

42

Short-term lease cost (1)

246

251

Sublease income (1)

(267)

Total lease cost

$

2,806

$

3,543

 

 

Other information:

Cash paid for amounts included in the measurement of lease liabilities

Operating cash outflows from operating leases

$

1,336

$

1,180

Operating cash outflows from finance leases

$

23

$

35

Financing cash outflows from finance leases

$

513

$

480

(1) Included in Cost of revenue, Sales, marketing and customer support, Product development and General and administrative expenses in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.
(2) Included in Depreciation and amortization in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.
(3) Included in Interest expense in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.

Schedule of weighted-average remaining lease terms and discount rates

The following table presents weighted-average remaining lease terms and weighted-average discount rates for finance and operating leases as of March 31, 2023 and 2022, respectively:

    

March 31,

2023

 

2022

Weighted-average remaining lease term - operating leases (in years)

 

13.9

14.7

Weighted-average remaining lease term - finance leases (in years)

 

1.4

2.2

Weighted-average discount rate - operating leases

4.5%

4.4%

Weighted-average discount rate - finance leases

 

3.7%

3.7%

Schedule of the future operating lease commitment under agreement

Maturities of lease liabilities as of March 31, 2023 are as follows:

    

March 31, 2023

(in thousands)

Operating Leases

Finance Leases

2023 (for remaining nine months)

$

5,861

$

1,401

2024

 

8,160

 

598

2025

 

7,538

 

168

2026

 

6,783

 

2027

 

6,660

 

2028

6,751

Thereafter

74,037

Total lease payments

 

115,790

 

2,167

Less amount representing interest

 

(33,720)

 

(55)

Present value of total lease payments

$

82,070

$

2,112

Schedule of maturities of finance lease liabilities

    

March 31, 2023

(in thousands)

Operating Leases

Finance Leases

2023 (for remaining nine months)

$

5,861

$

1,401

2024

 

8,160

 

598

2025

 

7,538

 

168

2026

 

6,783

 

2027

 

6,660

 

2028

6,751

Thereafter

74,037

Total lease payments

 

115,790

 

2,167

Less amount representing interest

 

(33,720)

 

(55)

Present value of total lease payments

$

82,070

$

2,112