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Leases
12 Months Ended
Dec. 31, 2022
Leases, Operating [Abstract]  
Leases
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.
 
For the year ended December 31, 2022, 2021 and 2020, total lease expense was $40.1 million, $39.2 million, and $38.5 million respectively, and included $14.1 million, $12.6 million, and $12.1 million, respectively, of variable lease costs and $2.0 million, $1.8 million, and $3.4 million, respectively, of costs related to short-term leases, which are not recorded on the consolidated balance sheets.
At December 31, 2022, the weighted average remaining lease term and weighted average discount rate for operating leases was 5.9 years and 4.7%, respectively. 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.
Supplemental cash flows information related to leases was as follows:
 
    
For the Years Ended
 
    
December 31,
2022
    
December 31,
2021
    
December 31,
2020
 
    
(in thousands)
 
Cash paid for amounts included in the measurement of lease liabilities included in operating cash flows:
   $ 20,775      $ 24,593      $ 24,136  
Right-of-use assets obtained in exchange for new lease obligations
     26,149        34,246        14,801  
Maturities of lease liabilities as of December 31, 2022 were as follows:
 
    
Operating Lease
 
    
(in thousands)
 
2023
   $ 20,120  
2024
     18,239  
2025
     15,308  
2026
     10,635  
2027
     8,117  
Thereafter
     17,963  
    
 
 
 
Total lease payments
     90,382  
Less imputed interest
     (7,612
    
 
 
 
Total lease liabilities
   $ 82,770