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The Company has various non-cancelable operating leases with various terms through September 2038, primarily for office space and office equipment. The following table provides additional information about the Company’s leases:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2024 |
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2023 |
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|
2024 |
|
2023 |
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Lease costs |
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Operating lease costs |
|
$ |
7,861 |
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$ |
9,246 |
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|
$ |
15,739 |
|
$ |
17,652 |
|
Short-term lease costs |
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|
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Operating lease costs |
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|
202 |
|
|
163 |
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|
|
447 |
|
|
401 |
|
Sublease income |
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|
(148 |
) |
|
(74 |
) |
|
|
(296 |
) |
|
(246 |
) |
Lease costs – net |
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$ |
7,915 |
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$ |
9,335 |
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|
$ |
15,890 |
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$ |
17,807 |
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Cash paid for amounts included in the measurement of lease liabilities |
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Operating cash flows for operating leases |
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$ |
14,651 |
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$ |
15,902 |
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Non-cash related activities |
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Right-of-use assets obtained in exchange for new operating lease liabilities |
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10,268 |
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|
6,692 |
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Amortization of right-of-use assets for operating lease activity |
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11,359 |
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|
13,359 |
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Weighted average discount rate (percent) |
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Operating leases |
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5.3 |
% |
|
5.1 |
% |
Weighted average remaining lease term (years) |
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Operating leases |
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7.9 |
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8.5 |
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