We determine whether an arrangement is a lease at inception. Assets leased under an operating lease arrangement are recorded in Right-of-use assets – operating leases and the associated lease liabilities are included in Current operating lease liabilities and Long-term operating lease liabilities within the consolidated balance sheets. Assets leased under finance lease arrangements are recorded within fixed assets and the associated lease liabilities are recorded within Accrued expenses and Other liabilities within the consolidated balance sheets.

Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the expected lease term. Since our lease arrangements do not provide an implicit rate, we use our incremental borrowing rate in conjunction with the market swap rate for the expected remaining lease term at the commencement date for new leases in determining the present value of future lease payments. Our expected lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term.

We have elected the group of practical expedients under Accounting Standards Update No. 2016-02, Leases (Topic 842) (“ASU 2016-02”) to forego assessing upon adoption: (1) whether any expired contracts are or contain leases; (2) the lease classification for any existing or expired leases and (3) any indirect costs that would have qualified for capitalization for any existing leases. We have lease agreements with lease and non-lease components, which are generally accounted for separately except for real estate and vehicle leases, which we have elected to combine through a practical expedient under ASU 2016-02. Non-lease components for our leases typically consist of executory costs, and the practical expedient allows for executory costs to be recorded as lease payments. Additionally, for certain equipment leases, we apply a portfolio approach to effectively record right-of-use assets and liabilities.

Our operating leases mainly include office leases, and our finance leases included office and computer equipment leases. As of December 31, 2021, we no longer have finance leases. Our finance leases in 2021 were not significant. Our operating leases have remaining lease terms up to 5 years, some of which include options to extend the leases for up to 5 years, which may include options to terminate the leases within 1 year. Operating costs associated with leased assets are as follows:


(In thousands)	Three Months Ended March 31,
	2022			2021
Operating lease cost (1)	$	1,690		$	1,931
Less: Sublease income		(33	)		(83	)
Total operating lease costs	$	1,657		$	1,848

(1) Operating lease costs are recognized on a straight-line basis and are included in Selling, general and administrative expenses within the consolidated statements of operations.

Supplemental cash flow information for operating leases is as follows:


(In thousands)	Three Months Ended March 31,
	2022		2021
Operating cash flows from operating leases	$	1,864	$	1,506

The balance sheet location and balances for operating leases are as follows:


(In thousands, except lease term and discount rate)	March 31, 2022			December 31, 2021
Right-of-use assets - operating leases	$	16,776		$	18,324
Current operating lease liabilities	$	5,972		$	6,133
Long-term operating lease liabilities	$	15,241		$	16,754
Weighted average remaining lease term (in years)		4			5
Weighted average discount rate		3.3	%		3.4	%

The future maturities of our leasing arrangements including lease and non-lease components are shown in the below table. The maturities are calculated using foreign currency exchange rates in effect as of March 31, 2022.


	March 31, 2022
(In thousands)	Operating Leases
Remainder of 2022	$	4,945
2023		6,317
2024		3,602
2025		3,440
2026		2,835
Thereafter		1,581
Total lease liabilities		22,720
Less: Amount representing interest		(1,507	)
Less: Short-term lease liabilities		(5,972	)
Total long-term lease liabilities	$	15,241