We have various non-cancelable lease agreements for certain of our offices with original lease periods expiring between 2021 and 2042. Our lease terms may include options to extend or terminate the lease when it is reasonably certain we will exercise that option. Certain of the arrangements have free rent periods or escalating rent payment provisions. Leases with an initial term of twelve months or less are not recorded on the consolidated balance sheets. We recognize rent expense on a straight-line basis over the lease term. Additionally, we sublease certain operating leases to third parties primarily as a result of moving to a centralized corporate office in Santa Monica, California in 2018.

	Three Months Ended March 31,
	2021			2020
	(in thousands)
Operating lease expense	$	14,940		$	14,405
Sublease income		(402	)		(742	)
Total net lease costs	$	14,538		$	13,663

The weighted-average remaining lease term (in years) and discount rate related to the operating leases were as follows:

	Three Months Ended March 31,
	2021			2020
Weighted-average remaining lease term		7.3			7.9
Weighted-average discount rate		5.5	%		5.6	%

As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date to determine the present value of lease payments.

The present value of our operating lease liabilities as of March 31, 2021 were as follows:

	Operating Leases
	(in thousands)
Remainder of 2021	$	43,793
2022		66,872
2023		62,401
2024		62,038
2025		57,179
Thereafter		107,373
Total lease payments	$	399,656
Less: Imputed interest		(72,935	)
Present value of lease liabilities	$	326,721

As of March 31, 2021, we have additional operating leases for facilities that have not yet commenced with lease obligations of $15.6 million. These operating leases will commence between 2021 and 2022 with lease terms of greater than one year to five years. This table does not include lease payments that were not fixed at commencement or modification.

Cash payments included in the measurement of our operating lease liabilities were $17.0 million and $21.1 million for the three months ended March 31, 2021 and 2020, respectively.

Lease liabilities arising from obtaining operating lease right-of-use assets was $9.4 million for the three months ended March 31, 2021. Lease liabilities arising from obtaining operating lease right-of-use assets was not material for the three months ended March 31, 2020.