Quarterly report pursuant to Section 13 or 15(d)

Right-of-Use Assets and Lease Liabilities

v3.23.1
Right-of-Use Assets and Lease Liabilities
 3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Right-of-Use Assets and Lease Liabilities Right-of-Use Assets and Lease Liabilities The Company leases office facilities under operating leases in various domestic and foreign locations with initial terms ranging from 1 to 12 years. Some leases include one or more options to extend the term of the lease, generally at the Company’s sole discretion, with renewal terms that can extend the lease term up to 5 years.
The Company’s operating leases were as follows:
March 31, 2023 December 31, 2022
(in thousands)
Right-of-use assets, net (1)
$ 6,921  $ 8,423 
Current operating lease liabilities (2)
$ 5,752  $ 5,509 
Operating lease liabilities, long-term (2)
9,357  10,055 
Total operating lease liabilities $ 15,109  $ 15,564 
(1)Includes impact of accelerated expense on abandoned right-of-use assets related to the global restructuring plan, see Note 18 — Restructuring and Related Charges for additional information.
(2)Current and long-term operating lease liabilities are recorded in accrued expenses and other current liabilities, and other non-current liabilities, respectively, on the Company’s condensed consolidated balance sheets.
Supplemental cash flow information related to leases was as follows:
Three Months Ended March 31,
2023 2022
(in thousands)
Cash paid for amounts included in measurement of operating lease liabilities $ 1,549  $ 1,301 
ROU assets obtained in exchange for operating lease liabilities $ 824  $ 10,445 
The weighted average remaining lease term and weighted average discount rate for the Company’s operating leases were as follows:
Three Months Ended March 31,
2023 2022
Weighted average remaining lease term (in years) 3.92 4.60
Weighted average discount rate 4.9  % 4.6  %