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Leases

12 Months Ended

Dec. 31, 2021

I. LEASES

Teradyne has facility and auto leases, which are accounted for as operating leases. Teradyne’s facility leases are primarily used for administrative functions, research and development, manufacturing, and storage and distribution. Remaining lease terms range from less than one year to twelve years.

Total lease expense for the year ended December 31, 2021 was $39.2 million and included $12.6 million of variable lease costs and $1.8 million of costs related to short-term leases, which are not recorded on the consolidated balance sheets.

Total lease expense for the year ended December 31, 2020 was $38.5 million and included $12.1 million of variable lease costs and $3.4 million of costs related to short-term leases, which are not recorded on the consolidated balance sheets.

Total lease expense for the year ended December 31, 2019 was $35.6 million and included $11.1 million of variable lease costs and $2.6 million of costs related to short-term leases, which are not recorded on the consolidated balance sheets.

At December

31, 2021, the weighted average remaining lease term and weighted average discount rate for operating leases was 5.3 years and 4.1%, respectively. At December 31, 2020, the weighted average remaining lease term and weighted average discount rate for operating leases was 4.2 years and 4.8%, respectively.

Supplemental cash flows information related to leases was as follows:


	For the Years Ended
	December 31, 2021		December 31, 2020		December 31, 2019
			(in thousands)
Cash paid for amounts included in the measurement of lease liabilities included in operating cash flows	$	24,593	$	24,136	$	19,400
Right-of-use assets obtained in exchange for new lease obligations		34,246		14,801		26,739

Maturities of lease liabilities as of December 31, 2021 were as follows:


	Operating Lease
	(in thousands)
2022	$	22,525
2023		16,187
2024		13,675
2025		10,717
2026		8,553
Thereafter		11,188

Total lease payments		82,845
Less imputed interest		(6,690	)

Total lease liabilities	$	76,155