Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Operating lease expense

Operating lease expense, which includes immaterial amounts of short-term leases, variable lease costs and sublease income, was as follows during fiscal 2022, 2021 and 2020:

	2022		2021		2020
	(In thousands)
Operating lease expense	$	49,165	$	43,210	$	39,731

Schedule of supplemental balance sheet information related to leases

Additional activity related to Cadence’s leases during fiscal 2022 and 2021 was as follows:

	2022		2021
	(In thousands)
Cash paid for amounts included in the measurement of operating lease liabilities	$	34,334	$	50,151
ROU assets obtained in exchange for operating lease obligations	83,758		31,813

ROU lease assets and lease liabilities for Cadence’s operating leases were recorded in the consolidated balance sheet as follows:

	As of
	December 31, 2022			January 1, 2022
	(In thousands)
Other assets	$	170,379		$	130,124
Accounts payable and accrued liabilities	36,737			25,271
Other long-term liabilities	139,337			107,121
Total lease liabilities	$	176,074		$	132,392
Weighted average remaining lease term (in years)	6.3			6.5
Weighted average discount rate	4		%	3.6		%

Table of lease liability maturity

Future lease payments included in the measurement of lease liabilities on the consolidated balance sheet as of December 31, 2022, for the following five fiscal years and thereafter were as follows:

	Operating
	Leases
	(In thousands)
2023	$	41,214
2024	39,673
2025	31,234
2026	21,816
2027	16,794
Thereafter	49,632
Total future lease payments	200,363
Less imputed interest	(24,289)
Total lease liability balance	$	176,074