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Leases | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Leases | Leases We have operating leases for offices, which have remaining lease terms of up to nine years. Components of lease expense were as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease expense | $ | 10,695 |  |  | $ | 10,524 |  |  | $ | 31,527 |  |  | $ | 30,292 |
Variable lease expense | 1,395 |  |  | 1,408 |  |  | 4,613 |  |  | 3,850 |
Sublease income | (671) |  |  | (493) |  |  | (1,467) |  |  | (1,317) |
Total lease expense | $ | 11,419 |  |  | $ | 11,439 |  |  | $ | 34,673 |  |  | $ | 32,825 |
Supplemental balance sheet information related to leases was as follows (in thousands, except weighted-average figures):
|  |  | As of
| Classification |  | September 30, 2024 |  | December 31, 2023
Operating lease assets | Other assets |  | $ | 82,378 |  |  | $ | 113,256 |
Current operating lease liabilities | Accrued expenses and other |  | $ | 34,452 |  |  | $ | 39,132 |
Long-term operating lease liabilities | Other long-term liabilities |  | 84,973 |  |  | 111,669 |
Total operating lease liabilities |  |  | $ | 119,425 |  |  | $ | 150,801 |
As of September 30, 2024 and December 31, 2023, our operating leases had a weighted-average remaining lease term of 4.6 years and 5.1 years, respectively, and a weighted-average discount rate of 5.4% and 5.2%, respectively. In November 2023, we committed to a plan to reassess our real estate footprint, focusing on optimizing efficiency and reducing costs. In connection with this plan, during the nine months ended September 30, 2024, we recorded $12.2 million of impairment charges on operating lease assets. No impairment charges were recorded during the three months ended September 30, 2024. As of September 30, 2024, our lease liabilities were as follows (in thousands):
| Operating Leases |  |
Gross lease liabilities | $ | 134,635 |  |  |
Less: imputed interest | 15,210 |  |  |
Present value of lease liabilities | $ | 119,425 |  |  |
As of September 30, 2024, we had entered into a lease that has not yet commenced with future minimum lease payments of $4.9 million which are not yet reflected on our consolidated balance sheet. This operating lease will commence in 2024 with a lease term of 5 years.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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