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Leases | 3 Months Ended
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Mar. 31, 2025
Leases [Abstract] |
Leases | Leases We have operating leases for offices, which have remaining lease terms of up to eight years. Components of lease expense were as follows (in thousands):
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Operating lease expense | $ | 7,428 |  |  | $ | 10,253 |  |  |  |  |
Variable lease expense | 1,273 |  |  | 1,721 |  |  |  |  |
Sublease income | (697) |  |  | (244) |  |  |  |  |
Total lease expense | $ | 8,004 |  |  | $ | 11,730 |  |  |  |  |
Supplemental balance sheet information related to leases was as follows (in thousands, except weighted-average figures):
|  |  | As of
| Classification |  | March 31, 2025 |  | December 31, 2024
Operating lease assets | Other assets |  | $ | 71,976 |  |  | $ | 78,562 |
Current operating lease liabilities | Accrued expenses and other |  | $ | 31,289 |  |  | $ | 33,703 |
Long-term operating lease liabilities | Other long-term liabilities |  | 75,333 |  |  | 81,093 |
Total operating lease liabilities |  |  | $ | 106,622 |  |  | $ | 114,796 |
As of March 31, 2025 and December 31, 2024, our operating leases had a weighted-average remaining lease term of 4.2 years and 4.3 years, respectively, and a weighted-average discount rate of 5.5% and 5.4%, respectively. During the three months ended March 31, 2025 and 2024, we recorded $0.3 million, and $3.7 million, respectively, of impairment charges on operating lease assets, primarily within general and administrative. As of March 31, 2025, our lease liabilities were as follows (in thousands):
| Operating Leases |  |
Gross lease liabilities | $ | 119,424 |  |  |
Less: imputed interest | 12,802 |  |  |
Present value of lease liabilities | $ | 106,622 |  |  |
As of March 31, 2025, we have entered into leases that have not yet commenced with future minimum lease payments of $7.3 million which are not yet reflected on our consolidated balance sheet. These operating leases will commence in 2025 with lease terms of approximately one to seven 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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