Leases

6 Months Ended

Jun. 30, 2022

We have operating leases for offices, which have remaining lease terms of up to 9.5 years, some of which include options to extend the lease with renewal terms from one year to five years. Some leases include an option to terminate the lease for up to five years from the lease commencement date.

Components of lease expense were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Operating lease expense	$	8,163	$	7,407	$	15,783	$	14,708

Variable lease expense	1,393		1,471		2,838		2,446
Sublease income	—		(93)		—		(186)
Total lease expense	$	9,556	$	8,785	$	18,621	$	16,968

Supplemental balance sheet information related to leases was as follows (in thousands, except weighted-average figures):


		As of
	Classification	June 30, 2022		December 31, 2021
Operating lease assets	Other assets	$	92,621	$	98,393

Current operating lease liabilities	Accrued expenses and other	$	24,358	$	23,729
Long-term operating lease liabilities	Other long-term liabilities	86,636		92,539
Total operating lease liabilities		$	110,994	$	116,268

As of June 30, 2022, our operating leases had a weighted-average remaining lease term of 5.7 years and a weighted-average discount rate of 4.3%.

As of June 30, 2022, future minimum lease payments under our non-cancellable operating leases were as follows (in thousands):


	Operating Leases (1)
Remainder of 2022	$	14,931
2023	26,849
2024	23,075
2025	17,619
2026	11,371
Thereafter	31,588
Total future minimum lease payments	125,433
Less: imputed interest	(14,439)
Present value of lease liabilities	$	110,994

(1) Excludes future minimum payments for leases which have not yet commenced as of June 30, 2022.

As of June 30, 2022, we had entered into leases that have not yet commenced with future minimum lease payments of $49.5 million that are not yet reflected on our condensed consolidated balance sheet. These operating leases will commence in 2022 and 2023 with lease terms of 3.0 years to 10.7 years.