Our operating leases are comprised of office facilities, with the most significant leases relating to our corporate headquarters in Menlo Park and our office in New York City. Our leases have remaining terms of 1 to 11 years, and many leases include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. We do not have any finance leases.

As of December 31, 2020 and 2021, we had $49.2 million and $129.4 million of operating right-of-use assets included as non-current assets and $54.1 million and $151.1 million of operating lease liabilities: $6.1 million and $22.4 million included as other current liabilities and $48.0 million and $128.7 million as other non-current liabilities on the consolidated balance sheets.

As of December 31, 2021, we have an executed operating lease that had not yet commenced for office facilities that is expected to be commenced in the first quarter of 2022. Under the terms of the lease, we will have the right to construct tenant improvements to the underlying asset upon commencement.


	Year ended December 31,
(in thousands)	2019		2020		2021
Fixed operating lease expenses	$	5,422	$	11,420	$	23,750
Variable operating lease expenses	1,078		3,009		5,376
Short-term lease expenses	1,188		1,222		1,428
Total lease expenses	$	7,688	$	15,651	$	30,554

Fixed operating lease expenses primarily consist of monthly base rent amounts due. Variable operating lease expenses are primarily related to payments made to our landlords for common area maintenance, property taxes, insurance, and other operating expenses.


	December 31,
	2020		2021
Weighted-average remaining lease term	5.41 years		7.29 years
Weighted-average discount rate	7.02	%	6.27	%


	Year ended December 31,
(in thousands)	2019		2020		2021
Operating cash flows:
Payments for operating lease liabilities	$	4,755	$	12,781	$	6,047
Supplemental cash flow data:
Lease liabilities arising from obtaining right-of-use assets	$	14,816	$	25,958	$	96,555

Future minimum lease payments under non-cancellable operating leases (with initial lease terms in excess of one year) as of December 31, 2021 are as follows:


(in thousands)

2022	$	32,646
2023	34,821
2024	33,355
2025	32,436
2026	23,724
Thereafter	102,000
Total undiscounted lease payments	258,982
Less: imputed interest	(42,046)
Less: lease incentives	(12,682)
Less: leases executed but not yet commenced	(53,185)
Total lease liabilities	$	151,069