We lease certain land, buildings and equipment under non-cancellable operating leases used in our operations. Operating lease assets represent our right to use an underlying asset for the lease term. Operating lease liabilities represent the present value of lease payments over the lease term, discounted using an estimate of our secured incremental borrowing rate because none of our leases contain a rate implicit in the lease arrangement.

The operating lease assets and liabilities are adjusted to include the impact of any lease incentives and non-lease components. We have elected not to separate lease and non-lease components, which include taxes and common area maintenance in some of our leases. Variable lease payments that depend on an index or a rate are included in lease payments using the prevailing index or rate in effect at lease commencement.

Options to extend or terminate a lease are included in the lease term when it is reasonably likely that we will exercise that option. We occasionally enter into short term operating leases with an initial term of twelve months or less. These leases are not recorded in the Consolidated Balance Sheets.

We determine if an arrangement is a lease or contains a lease at its inception, which normally does not require significant estimates or judgments. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants and we currently have no material sublease agreements.

Components of lease expense for the years ended December 31, 2023, 2022, and 2021 were as follows:


	Years Ended December 31,
	2023		2022		2021
Operating lease cost	$	5,762	$	4,997	$	5,144
Short-term lease cost		1,495		1,338		1,403
Total lease cost	$	7,257	$	6,335	$	6,547

For the years ended December 2023, 2022 and 2021 the Company recorded sublease income of $532, $562 and $589, respectively.

Supplemental cash flow information related to leases was as follows:


	Years Ended December 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease obligations	$	5,797	$	5,163	$	3,666
Leased assets obtained in exchange for new operating lease obligations	$	7,831	$	5,990	$	1,253

Supplemental balance sheet information related to leases was as follows:



	As of December 31,
	2023			2022
Operating lease obligations	$	4,394		$	3,936
Long-term operating lease obligations		24,965			21,754
Total lease liabilities	$	29,359		$	25,690
Weighted-average remaining lease terms (years)		6.22			6.46
Weighted-average discount rate		6.30	%		6.08	%

Remaining maturity of our existing lease liabilities as of December 31, 2023 is as follows:


	Operating Leases(1)
2024	$	6,215
2025		5,715
2026		4,052
2027		3,947
2028		4,037
Thereafter		13,890
Total	$	37,856
Less: interest		(8,497	)
Present value of lease payments	$	29,359

(1)

Operating lease payments include $1,386 of payments related to options to extend lease terms that are reasonably expected to be exercised.