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LEASES | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
LEASES | LEASES The Company leases office space throughout the United States under operating and short-term lease agreements. These lease agreements have terms not exceeding 11 years and some contain multi-year renewal options or early termination options that are not considered reasonably certain of exercise except as discussed below. The Company also leases equipment under immaterial finance lease agreements. Components of lease costs for the years ended the December 31, 2022, 2021, and 2020, are as follows (in millions):
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Operating lease cost | $ | 11 |  |  | $ | 12 |  |  | $ | 34 |
Variable lease cost | — |  |  | 1 |  |  | — |
Short-term lease cost | 1 |  |  | — |  |  | 1 |
Sublease income | (1) |  |  | (1) |  |  | — |
Net lease cost | $ | 11 |  |  | $ | 12 |  |  | $ | 35 |
The following table present supplemental lease information (in millions):
December 31, | 2022 |  | 2021 |  | 2020
Cash paid for amounts included in the measurement of operating lease liabilities | $ | (11) |  |  | $ | (10) |  |  | $ | (13) |
Right-of-use assets obtained in exchange for new or acquired lease liabilities | $ | 5 |  |  | $ | — |  |  | $ | 40 |
For the year ended December 31, 2022, the Company signed a new lease that resulted in an increase to the right-of-use asset in the amount of $5 million and an increase in operating lease liabilities in the amount of $5 million. There were no material lease modifications in the year ended December 31, 2022. For the year ended December 31, 2020, the Company terminated certain operating leases. The Company exercised an option to early terminate the Company’s lease in San Francisco and accelerated amortization of the right-of-use asset by $13 million for the one year term remaining after exercising the early termination option. In exercising the Company’s early termination option, the Company incurred $5 million in early termination fees for the year ended December 31, 2020. In January 2021, the Company terminated the San Francisco lease prior to the anticipated termination date of September 30, 2021, which resulted in a $5 million gain recognized for the year ended December 31, 2021. See “Note 20 — Restructuring” for further discussion. There were no other material lease modifications for the year ended December 31, 2021. The weighted average lease term and the weighted average discount rate are as follows:
December 31, | 2022 |  | 2021
Weighted average remaining lease term for operating leases (in years) | 6.6 |  | 7.6
Weighted average discount rate for operating leases | 9.9 | % |  | 9.8 | %
Maturity of operating lease liabilities as of December 31, 2022 are as follows (in millions):
2023 | $ | 11 |
2024 | 10 |
2025 | 7 |
2026 | 7 |
2027 | 7 |
Thereafter | 20 |
Total undiscounted future cash flows | $ | 62 |
Less: Imputed interest | 17 |
Total lease liabilities | $ | 45 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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