The Company leases office facilities under non-cancelable operating leases that expire at various dates through February 2035.

During the three months ended March 31, 2023, the Company terminated and abandoned various leases of office spaces globally. The Company recorded a reduction in right-of-use assets of $2.2 million and in lease liabilities of $1.2 million for these leases during the period upon the lease termination or abandonment. Refer to Note 14 regarding the loss associated with the lease termination and abandonment in connection with the Restructuring Plan.

The Company uses its estimated incremental borrowing rate, which is derived from information available at the lease commencement date, in determining the present value of operating lease payments. To determine the estimated incremental borrowing rate, the Company uses publicly available credit ratings for peer companies. The Company estimates the incremental borrowing rate using yields for maturities that are in line with the duration of the lease payments. The weighted average discount rate for operating leases as of March 31, 2023 was 4.9%.

Operating lease expense costs were $12.9 million for the three months ended March 31, 2023 and $10.9 million for the three months ended March 31, 2022.

The Company subleases some of its unused spaces to third parties. Operating sublease income generated under all operating lease agreements for the three months ended March 31, 2023 and 2022 are as follows:


	Three Months Ended March 31,
	2023		2022
	(in thousands)
Operating sublease income	$	2,028	$	1,188