XML 37 R17.htm IDEA: XBRL DOCUMENT v3.24.0.1
Leases
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases Leases
We have entered into various non-cancelable office space operating leases with original lease periods expiring between 2024 and 2035. These do not contain material variable rent payments, residual value guarantees, covenants or other restrictions. Operating lease costs for the years ended December 31, 2023, 2022 and 2021, are as follows (in thousands):
Year Ended December 31,
202320222021
Lease cost:
Operating lease cost (1)$51,044 $66,022 $53,691 
Short-term lease cost759 2,809 1,434 
Total$51,803 $68,831 $55,125 
(1) The decrease in operating lease cost for the year ended December 31, 2023 compared to the year ended December 31, 2022 is primarily due to office space reductions. Refer to Note 13, "Restructuring" for further information.
The weighted-average remaining term of our operating leases was 7.2 years and 6.8 years, and the weighted-average discount rate used to measure the present value of our operating lease liabilities was 5.1% and 4.1% as of December 31, 2023 and 2022, respectively.
Maturities of our operating lease liabilities, which do not include short-term leases, as of December 31, 2023, are as follows (in thousands):
Operating Leases
2024$42,906 
202533,197 
202631,542 
202727,919 
202822,172 
Thereafter83,233 
Total lease payments240,969 
Less imputed interest(44,687)
Total operating lease liabilities$196,282 
Cash payments included in the measurement of our operating lease liabilities were $61.8 million, $64.0 million and $59.0 million for the years ended December 31, 2023, 2022 and 2021, respectively.
As of December 31, 2023, operating leases that have not yet commenced were not material and are excluded from the table above.