Leases

12 Months Ended

Dec. 31, 2020

We have operating leases for corporate offices worldwide, which expire at various dates through 2027. Our primary operating lease commitments at December 31, 2020 are related to our corporate headquarters in Santa Clara, California. We have additional offices in California, Oregon, and New York in the United States and internationally in India and Israel. As of December 31, 2020 and 2019, we had operating lease ROU assets of $24.2 million and $15.9 million, respectively, and operating lease liabilities of $25.9 million and $19.8 million, respectively. During the year ended December 31, 2020, we obtained $13.7 million of ROU assets in exchange for lease liabilities related to commencing leases for additional office space in New York and internationally in India. During the year ended December 31, 2019, we obtained $3.4 million of ROU assets in exchange for lease liabilities related to the reassessment of the lease term for two of our office spaces and commencing a lease for an additional office space internationally in India.

As of December 31, 2020 and 2019, we did not have finance leases recorded on our consolidated balance sheet, our weighted average remaining lease term was 4.6 years and 3.7 years, respectively, and our weighted average discount rate was 4.8% and 4.7%, respectively. Operating lease expense, net of immaterial sublease income, was approximately $5.6 million and $5.0 million, respectively, during the years ended December 31, 2020 and 2019. Variable lease cost and short term lease cost were immaterial during the years ended December 31, 2020 and 2019.

The aggregate future minimum lease payments and reconciliation to operating lease liabilities as of December 31, 2020, are as follows (in thousands):


	December 31, 2020
2021	$	7,702
2022	7,590
2023	5,604
2024	2,559
2025	1,823
Thereafter	3,618
Total future minimum lease payments	28,896
Less imputed interest	(3,029)
Total operating lease liabilities	$	25,867