Leases

9 Months Ended

Sep. 30, 2022

The following table presents information about leases on our consolidated balance sheets (in thousands):


	September 30, 2022		December 31, 2021
Assets
Lease right-of-use assets	$	44,260	$	69,936
Liabilities
Lease liabilities	19,965		21,253
Lease liabilities, noncurrent	45,902		63,212

As of September 30, 2022, the weighted average remaining lease term was 5.5 years and the weighted average discount rate was 4.8%.

The following table presents information about leases on our consolidated statements of operations (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Operating lease expense	$	4,313	$	5,455	$	14,736	$	16,583
Short-term lease expense	59		130		262		386
Variable lease expense	1,509		1,297		4,020		3,759
Sublease income	(735)		(450)		(1,730)		(1,324)

The following table presents supplemental cash flow information about our leases (in thousands):


	Nine Months Ended September 30,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities	$	17,450	$	20,460
Operating lease assets obtained in exchange for new lease liabilities	3,711		4,452

In April 2022, our board of directors approved a plan to cease use or sublease certain leased premises across our real estate portfolio. As a result, we recorded an aggregate impairment charge of $25 million in the second quarter of 2022, which is the amount that the carrying value of the asset groups exceeded their estimated fair values. The asset groups primarily include

lease right-of-use assets and leasehold improvements. The estimated fair values were based on the present value of the estimated cash flows that could be generated from subleasing each property for the remaining lease term, if applicable. Further, in July 2022, our board of directors approved a plan to cease use of additional leased premises for which we recorded an impairment charge of $3 million in the third quarter of 2022. The impairment charges were recorded in general and administrative expenses on our consolidated statements of operations.

In the third quarter of 2022, we executed a termination agreement for certain leased premises, including a one-time payment of $1 million, which is included within operating activities on our consolidated statements of cash flows and is not included in the supplemental cash flow table above.