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LEASES
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
LEASES LEASES
We have various non-cancellable operating and finance leases for our office spaces, data centers and operational assets with lease periods expiring between 2022 and 2025. During the year ended December 31, 2021, we recognized additional right-of-use assets and lease liabilities related to our operating leases of $5.1 million and $5.5 million, respectively. This includes $1.8 million of new lease agreements related to data center expansion, $0.6 million related to the renewal or modification of pre-existing data center lease agreements, $0.4 million of new lease agreements related to office space expansion and $0.9 million related to the renewal or modification of pre-existing office space lease agreements. Additionally, right-of-use assets and lease liabilities of $1.4 million and $1.8 million, respectively, were recorded related to the acquisitions of Dosh and Bridg and assumption of their existing lease agreements. Refer to Note 4—Business Combinations for further information.
During 2021, we incurred an impairment of $0.6 million to the right-of-use assets under operating leases, related to the discontinued use of office space lease obtained during the Dosh acquisition. The impairment is reflected in acquisition and integration costs in the Consolidated Statements of Operations and was attributable to the Cardlytics platform operating segment. Refer to Note 16—Segments for more information on our operating segments.
During 2020 and 2021, respectively, we made cash payments of $4.0 million and $7.3 million for operating leases which are included in cash flows received from (used in) operating activities in our consolidated statement of cash flows.
Lease assets and liabilities, net, are as follows (in thousands):
December 31,
Lease TypeConsolidated Balance Sheets Location20202021
Operating lease assetsRight-of-use assets under operating leases, net$10,764 $10,196 
Finance lease assetsProperty and equipment, net86 
Total lease assets10,773 10,282 
Operating lease liabilities, currentCurrent operating lease liabilities4,718 6,028 
Operating lease liabilities, long-termLong-term operating lease liabilities9,381 6,801 
Finance lease liabilities, currentAccrued expenses13 36 
Finance lease liabilities, long-termOther long-term liabilities— 50 
Total lease liabilities$14,112 $12,915 
The following table summarizes activity related to our leases (in thousands):
December 31,
20202021
Operating lease expense$4,078 $5,632 
Variable lease expense847 936 
Short-term lease expense232 119 
Total net operating lease cost$5,157 $6,687 

The following table presents our weighted average borrowing rates and weighted average lease terms:
December 31,
 20202021
Operating leases:
Weighted average borrowing rate3.4 %3.4 %
Weighted average remaining lease term (years)3.252.36

The following table summarizes future maturities of lease liabilities as of December 31, 2021 (in thousands):
Fiscal YearOperating Leases
2022$6,334 
20234,472 
20241,920 
2025611 
Total lease payments13,337 
Imputed interest508 
Total lease liabilities$12,829