Leases

12 Months Ended

Dec. 31, 2021

The Company has operating leases for real estate and certain equipment. The Company leases office space in Canada, France, Germany, Spain, the U.K. and the U.S. under operating leases. Our leases have remaining lease terms ranging from less than one year to up to nine years. Certain leases include one or more options to renew. In addition, we sublease certain real estate to a third party. All of our leases qualify as operating leases.

The following table summarizes the components of lease expense for the year ended December 31, 2021 and 2020 (in thousands):


	Year Ended December 31,
	2021		2020
Operating lease cost	$	3,270	$	4,435
Short-term lease cost	12		26
Variable lease cost	992		1,060
Sublease income	(359)		(336)
Total lease cost	$	3,915	$	5,185

For the year ended December 31, 2021 and 2020, cash payments against the operating lease liabilities totaled $4.3 million and $4.7 million, respectively. ROU assets obtained in exchange for lease obligations was $1.8 million and $3.2 million for the year ended December 31, 2021 and 2020, respectively.

The following table summarizes the presentation in our consolidated balance sheet of our operating leases (in thousands):


		December 31,
		2021			2020
Assets:
	Operating lease right-of-use assets	$	7,700		$	8,541

Liabilities:
	Operating lease liabilities	$	3,180		$	3,587
	Long-term operating lease liabilities	9,111			10,774
	Total operating lease liabilities	$	12,291		$	14,361

Weighted average remaining lease term (years)		6.68			7.28
Weighted average discount rate		3.4		%	3.6		%

Maturities of lease liabilities were as follows (in thousands):


Years ending December 31,
2022	$	3,196
2023	2,125
2024	1,426
2025	1,350
2026	1,350
Thereafter	4,275
Total lease payments	13,722
Less interest	(1,431)
Present value of operating lease liabilities	$	12,291