v3.23.1
Leases
3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Leases Leases
The Company leases office space under non-cancellable operating leases for its corporate headquarters in Austin, Texas in two adjacent buildings under separate lease agreements. Pursuant to the first of which the Company leases office space with an initial term that expires on April 30, 2028, with the option to extend the lease for an additional ten-year term. Pursuant to the second of which the Company leases office space with lease terms of approximately ten years, with options to extend the leases on the second building from five to ten years. The Company also leases office space in U.S. cities located in Nebraska, Iowa, North Carolina, Texas and Minnesota. Internationally, the Company leases offices in India, Australia and the United Kingdom. The Company believes its current facilities will be adequate for its needs for the foreseeable future.
Maturities of the Company's operating lease liabilities for lease terms in excess of one year at March 31, 2023 were as follows:
Operating Leases
Year Ended December 31,
2023 (April 1 to December 31)
$9,201 
202411,443 
202510,477 
20269,455 
20278,282 
Thereafter23,408 
Total lease payments$72,266 
Less: imputed interest(12,105)
Total operating lease liabilities$60,161 
The operating lease liabilities include $14.0 million in optional lease renewals where the Company is reasonably certain of exercising those options.
As of March 31, 2023, the Company exited and made available for sublease certain leased office space in North Carolina. As a result, the Company evaluated the recoverability of its right of use and other lease related assets and determined that their carrying values were not fully recoverable. The Company calculated the impairment by comparing the carrying amount of the asset group to its estimated fair value using a discounted cash flow model. As such, an impairment of $1.1 million was recorded to right of use assets, $0.1 million was recorded to property and equipment and an additional $0.1 million was recorded to accrued liabilities for expected expenses and fees associated with exiting the leased office space as of March 31, 2023. These charges were recorded within operating expenses on the condensed consolidated statements of comprehensive income (loss) for the three months ended March 31, 2023.