We lease most of our administrative and educational facilities under non-cancelable operating leases expiring at various dates through 2032. Lease terms generally range from five to ten years with one to four renewal options for extended terms. In most cases, we are required to make additional payments under facility operating leases for taxes, insurance and other operating expenses incurred during the operating lease period, which are typically variable in nature.

We determine if a contract contains a lease when the contract conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Upon identification and commencement of a lease, we establish a right of use (“ROU”) asset and a lease liability.

Quantitative information related to leases is presented in the following table (dollars in thousands):


	For the Quarter Ended March 31, 2024			For the Quarter Ended March 31, 2023
Lease expenses (1)
Fixed lease expenses - operating	$	1,444		$	1,696
Variable lease expenses - operating		58			581
Sublease income (2)		-			(311	)
Total lease expenses	$	1,502		$	1,966

Other information
Gross operating cash flows for operating leases (3)	$	(2,466	)	$	(2,866	)
Operating cash flows from subleases (3)	$	-		$	292

	As of March 31, 2024			As of March 31, 2023
Weighted average remaining lease term (in months) – operating leases		53			61
Weighted average discount rate – operating leases		4.9	%		4.8	%

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(1)

Lease expense and sublease income represent the amount recorded within our consolidated statements of income. Variable lease amounts represent expenses recognized as incurred which are not included in the lease liability. Fixed lease expenses and

sublease income are recorded on a straight-line basis over the lease term and therefore are not necessarily representative of cash payments during the same period.

(2)

Historically, for certain of our leased locations we had vacated the facility and had fully or partially subleased the space. As of March 31, 2024, we no longer have any subleased locations.

(3)

Cash flows are presented on a consolidated basis and represent cash payments for fixed and variable lease costs.