The components of lease expense were as follows (in thousands):


	Years Ended December 31,
	2024			2023			2022
Operating lease cost	$	11,542		$	12,671		$	14,284
Short-term lease cost		1,095			981			754
Variable lease cost		4,817			4,394			5,416
Sublease income		(524	)		(521	)		(746	)
Total lease cost	$	16,930		$	17,525		$	19,708

Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):


	Years Ended December 31,
	2024			2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	14,570		$	13,839
Operating ROU assets obtained in exchange for lease obligations	$	408		$	1,110
Weighted-average remaining lease term - operating leases (years)		3.7			4.3
Weighted-average discount rate - operating leases		4.1	%		4.3	%

Future minimum lease payments under non-cancelable leases as of December 31, 2024 are as follows (in thousands):


	Operating Lease
	Payments
2025	$	13,898
2026		12,302
2027		5,694
2028		2,865
2029		2,838
Thereafter		3,169
Total lease payments		40,766
Less imputed interest		(3,199	)
Present value of lease liabilities	$	37,567

Lease balances are as follows (in thousands):


	As of
	December 31, 2024
Operating lease ROU assets	$	27,049

Short-term operating lease liabilities (1)	$	12,758
Non-current operating lease liabilities		24,809
Total operating lease liabilities	$	37,567

(1)

Included in accrued expenses and other current liabilities in the Consolidated Balance Sheets.

The Company’s leases do not contain residual value guarantees, material restrictions or covenants.

During the year ended December 31, 2024, the Company recorded $3.6 million of ROU asset impairments and $1.0 million of leasehold improvements impairments related to closure of the 10th and 11th floors of its offices located in San Francisco, California. During the year ended December 31, 2023, the Company recorded $1.9 million of ROU asset impairments and accelerated amortization and $0.7 million of leasehold improvements impairments related to closing various offices. During the year ended December 31, 2022, the Company recorded $3.7 million of ROU asset impairments and $1.3 million of leasehold improvement impairments related to closing the 10th floor of its offices located in San Francisco, California. The space had been vacant prior to the Company electing to permanently reduce its office space. The impairments and accelerated amortization are included in restructuring costs in the Consolidated Statements of Operations. The leasehold improvements were originally recorded in property and equipment, net in the Consolidated Balance Sheets. As a result of the impairments, the ROU asset and leasehold improvements were required to be recorded at their estimated fair value as Level 3 non-financial assets. The fair value of the asset group was determined using a discounted cash flow model, which required the use of estimates, including projected cash flows for the related assets, the selection of a discount rate used in the model, and regional real estate industry data. The fair value of the asset group was allocated to the ROU asset and leasehold improvements based on their relative carrying values.