The Company’s long-term leases primarily include operating leases and subleases for office space in Washington, D.C. and London, England. The Company recognized ROU assets and lease liabilities related to fixed payments for these long-term operating leases in its Consolidated Balance Sheets as of December 31, 2022 and 2021. The Company also has short-term leases, including office space in Berlin, Germany.

In June 2011, the Company entered into an operating lease agreement under which it leases 33,534 square feet of office space for its headquarters at 2200 Pennsylvania Avenue, N.W. in Washington, D.C. Subject to the prior rights of other tenants, the Company has the right to renew the lease for five years following its expiration in July 2028. As of December 31, 2022, the renewal period has not been included in the lease term. The Company has the right to sublease or assign all or a portion of the premises, subject to standard conditions. The lease may be terminated early by the Company or the landlord under certain circumstances.

In June 2016, the Company entered into a sublease agreement under which it subleases an additional 9,928 square feet of office space for its headquarters at 2200 Pennsylvania Avenue, N.W. in Washington, D.C. The sublease term began in January 2017 and ends in July 2026 but may be terminated earlier by either party under certain circumstances. The Company has the right to sublease or assign all or a portion of the premises, subject to standard conditions.

In May 2016, the Company entered into an operating lease agreement under which it leases 2,880 square feet of office space in London, England. In November 2022, the Company extended the non-cancellable portion of the lease term from 2023 to 2026.


(in thousands)	Classification on the Balance Sheet	December 31, 2022			December 31, 2021
Assets
Operating lease assets	Operating lease right-of-use assets	$	8,400		$	9,272

Liabilities
Operating lease current liabilities	Accounts payable and accrued liabilities	$	2,328		$	2,311
Operating lease non-current liabilities	Operating lease non-current liabilities	8,813			10,055
Total lease liabilities		$	11,141		$	12,366

Weighted average remaining lease term		5.2			6.2
Weighted average discount rate		8.2		%	8.1		%

The Company recognized operating lease cost of $2.2 million, $2.3 million and $2.3 million and short-term operating lease cost of $0.4 million for each of the years ended December 31, 2022, 2021 and 2020, respectively. The Company also recognized $1.4 million, $1.4 million and $1.5 million, respectively, of expense related to non-lease elements, such as building maintenance services and utilities, and executory costs associated with the operating leases.

Cash paid for amounts included in the measurement of operating lease liabilities is included in operating cash flows and was $2.6 million, $2.3 million and $2.6 million for the years ended December 31, 2022, 2021 and 2020, respectively.

The table below reconciles the Company’s future cash obligations to operating lease liabilities recorded on the balance sheet as of December 31, 2022:



(in thousands)	Operating Leases
2023	$	2,647
2024	2,714
2025	2,784
2026	2,407
2027	2,159
Thereafter	1,099
Total minimum lease payments	13,810
Less: amount of lease payments representing interest	(2,669)
Present value of future minimum lease payments	11,141
Less: current obligations under leases	(2,328)
Operating lease non-current liabilities	$	8,813