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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease Costs The table below presents the Company’s net lease cost and certain other information related to the Company’s leasing activities as of and for the years ended December 31, 2024, 2023 and 2022 (dollars in thousands).
Year Ended December 31,
Description202420232022
  Operating lease cost (1)$101,897 $112,948 $117,750 
  Variable lease cost (2)23,996 22,254 15,209 
  Sublease income(48,698)(53,377)(46,698)
  Total lease cost, net (3) (4)$77,195 $81,825 $86,261 
  Cash paid for amounts included in the measurement of operating lease
  liabilities
$147,672 $145,226 $137,399 
  Cash receipts from sublease arrangements$46,245 $51,968 $46,159 
  Right-of-use assets obtained in exchange for new operating lease liabilities$28,291 $12,715 $20,597 
As of December 31,202420232022
  Weighted average remaining lease term for operating leases (in years)6.67.37.9
  Weighted average discount rate for operating leases6.4 %6.6 %6.6 %
(1)Included in operating lease cost was $36.4 million, $43.1 million and $41.9 million of costs for subleasing activities during 2024, 2023, and 2022 respectively.
(2)These amounts are primarily variable lease and nonlease costs that were not fixed at the lease commencement date or are dependent on something other than an index or a rate.
(3)The Company did not capitalize any initial direct costs for operating leases during 2024, 2023, or 2022.
(4)Amount excludes impairment charges of $10.9 million, $20.4 million, and $54.0 million for the years ended December 31, 2024, 2023, and 2022 respectively, as discussed below.
Operating Lease Maturity Schedule
As of December 31, 2024, the (i) maturities of operating lease liabilities under non-cancelable arrangements and (ii) estimated future sublease cash receipts from non-cancelable arrangements were as follows (in thousands):
OperatingSublease
LeaseCash
Period ending December 31,PaymentsReceipts
2025$117,130 $44,405 
2026100,775 44,237 
202794,468 45,110 
202846,836 5,314 
202937,904 2,048 
Thereafter130,261 4,344 
Total future minimum operating lease payments and estimated sublease cash receipts (1)527,374 $145,458 
Imputed interest(87,283)
Total operating lease liabilities per the Consolidated Balance Sheet$440,091 
(1)Approximately 77% of the operating lease payments pertain to properties in the United States.
Supplemental Balance Sheet Information
The table below indicates where the discounted operating lease payments from the above table are classified in the Consolidated Balance Sheet (in thousands).
December 31,
Description20242023
Accounts payable and accrued liabilities$100,312 $98,493 
Operating lease liabilities339,779 513,406 
Total operating lease liabilities per the Consolidated Balance Sheet$440,091 $611,899