Leases

6 Months Ended

Jun. 30, 2022

LeasesThe 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 up to eight years. Certain leases include one or more options to renew. In addition, we sublease 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 three and six months ended June 30, 2022 and 2021 (in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Operating lease cost	$	558	$	920	$	1,243	$	1,802
Short-term lease cost	—		6		—		12
Variable lease cost	170		266		391		547
Sublease income	(88)		(84)		(174)		(168)
Total lease cost	$	640	$	1,108	$	1,460	$	2,193

For the six months ended June 30, 2022 and 2021, cash payments against the operating lease liabilities totaled $1.7 million and $2.3 million, respectively. ROU assets obtained in exchange for lease obligations was $0 and $1.8 million for six months ended June 30, 2022 and 2021, respectively.

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


		June 30, 2022			December 31, 2021
Assets:
	Operating lease right-of-use assets	$	6,192		$	7,700

Liabilities:
	Operating lease liabilities	$	2,589		$	3,180
	Long-term operating lease liabilities	8,125			9,111
	Total operating lease liabilities	$	10,714		$	12,291

Weighted average remaining lease term (years)		6.64			6.68
Weighted average discount rate		3.3		%	3.6		%

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


Years ending December 31,
2022 (excluding the six months ended June 30, 2022)	$	1,426
2023	2,119
2024	1,426
2025	1,350
2026	1,350
Thereafter	4,275
Total lease payments	11,946
Less interest	(1,232)
Present value of operating lease liabilities	$	10,714