v3.22.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Lease Cost The following table presents the components of the Company’s lease cost, lease term and discount rate during the years ended December 31, 2022, 2021 and 2020 (in thousands, except years and percentages):
Year Ended December 31,
202220212020
Lease Cost
Operating lease cost$20,305 $11,646 $7,602 
Finance lease cost:
Amortization of right-of-use assets
3,253 3,082 2,787 
Interest on lease liabilities1,439 1,495 1,517 
Variable lease cost(1)
10,012 6,699 5,139 
Total lease costs$35,009 $22,922 $17,045 
Weighted Average Remaining Lease Term
Operating leases13.4 years13.1 years9.1 years
Finance leases11.4 years12.2 years13.5 years
Weighted Average Discount Rate
Operating leases4.94 %4.92 %6.16 %
Finance leases5.30 %5.30 %5.36 %
(1) Variable lease costs represent payments that are dependent on usage, a rate or index. Variable lease cost primarily relates to common area maintenance charges for its real estate leases as the Company does not separate lease from non-lease components.
Schedule of Maturities of Operating Lease Liabilities
The following table is a schedule, by years, of maturities of the Company's operating and finance lease liabilities as of December 31, 2022 (in thousands):
Operating Lease Payments(1)
Finance Lease Payments
Year Ending December 31:
2023$19,760 $3,277 
202419,986 3,288 
202519,827 3,216 
202619,931 2,848 
202719,828 2,739 
Thereafter192,639 20,807 
Total undiscounted lease payments291,971 36,175 
Less imputed interest(82,983)(9,390)
Present value of lease liabilities$208,988 $26,785 
(1) The table above excludes the estimated future minimum lease payments of Phase 2 of the 620 Roseville Parkway Lease due to uncertainty around when Phase 2 lease will commence and payments will be due. The total estimated lease payments of the Phase 2 lease is approximately $10.3 million.
Schedule of Maturities of Finance Lease Liabilities
The following table is a schedule, by years, of maturities of the Company's operating and finance lease liabilities as of December 31, 2022 (in thousands):
Operating Lease Payments(1)
Finance Lease Payments
Year Ending December 31:
2023$19,760 $3,277 
202419,986 3,288 
202519,827 3,216 
202619,931 2,848 
202719,828 2,739 
Thereafter192,639 20,807 
Total undiscounted lease payments291,971 36,175 
Less imputed interest(82,983)(9,390)
Present value of lease liabilities$208,988 $26,785 
(1) The table above excludes the estimated future minimum lease payments of Phase 2 of the 620 Roseville Parkway Lease due to uncertainty around when Phase 2 lease will commence and payments will be due. The total estimated lease payments of the Phase 2 lease is approximately $10.3 million.
Schedule of Supplemental Cash Flow Disclosures Supplemental cash flow information related to leases during the years ended December 31, 2022, 2021 and 2020 are as follows (in thousands):
Year Ended December 31,
202220212020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$17,554 $9,690 $7,561 
Financing cash flows from finance leases$1,751 $1,451 $3,418 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$72,279 $101,510 $1,515 
Finance leases$305 $1,346 $1,632