Leases

9 Months Ended

Sep. 30, 2019

We have operating leases for corporate offices worldwide, which expire at various dates through 2024. Our primary operating lease commitments at September 30, 2019 are related to our corporate headquarters in Santa Clara, California. We have additional offices in California, Oregon, Georgia and New York in the United States and internationally in India, Israel and Germany. During the three months ended September 30, 2019, we reassessed the lease term for two of our leases in India resulting in $2.6 million of ROU assets obtained in exchange for operating lease liabilities.

As of September 30, 2019, we had operating lease ROU assets of $16.3 million and operating lease liabilities of $20.3 million. As of September 30, 2019, we do not have finance leases recorded on our condensed consolidated balance sheet. As of September 30, 2019, our weighted average remaining lease term was 4.0 years. During the three and nine months ended September 30, 2019, our weighted average discount rate was 4.7%.

Operating lease expense, net of immaterial sublease income, was approximately $1.2 million and $3.7 million during the three and nine months ended September 30, 2019, respectively. Variable lease cost was immaterial during the three and nine months ended September 30, 2019. We did not record short term lease cost during the three and nine months ended September 30, 2019.

The aggregate future minimum lease payments and reconciliation to lease liabilities as of September 30, 2019, are as follows (in thousands):



	September 30, 2019
Remaining three months of 2019	$	1,437
2020	5,834
2021	5,362
2022	5,147
2023	3,742
Thereafter	780
Total future minimum lease payments	22,302
Less imputed interest	(2,005		)
Total lease liabilities	$	20,297

The aggregate future minimum lease payments as of December 31, 2018, are as follows (in thousands):



	December 31, 2018
2019	$	5,222
2020	5,251
2021	4,775
2022	3,999
2023	3,421
Thereafter	788
Total	$	23,456