Leases

6 Months Ended

Jun. 30, 2024

The Company’s operating leases consist of office facilities, office equipment, and automobiles. As of June 30, 2024, the Company’s leases have remaining terms of less than one year to nine years, some of which include one or more options to renew, with renewal terms from one year to five years and some of which include options to terminate the leases from less than one year to five years.

The components of operating lease cost reflected in the consolidated statements of operations were as follows:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Operating lease cost (1)	$	3,558	$	4,534	$	7,253	$	9,162
Variable lease cost	1,115		1,146		2,288		2,348

Total operating lease cost	$	4,673	$	5,680	$	9,541	$	11,510

(1)Operating lease cost includes rent cost related to operating leases for office facilities of $3,301 and $4,329 for the three months ended June 30, 2024 and 2023, respectively, and $6,772 and $8,746 for the six months ended June 30, 2024 and 2023, respectively.

Supplemental operating cash flows and other information related to leases was as follows:


	Six Months Ended
	June 30,
	2024		2023
Cash paid for operating leases included in operating cash flows	$	7,409	$	9,319
Right-of-use assets obtained in exchange for new operating lease liabilities (1)	$	3,502	$	11,212

(1)For the six months ended June 30, 2023, right‑of‑use assets obtained in exchange for new operating lease liabilities does not include the impact from an acquisition of $345.

The weighted average remaining lease term for operating leases was 4.4 years and 4.6 years as of June 30, 2024 and December 31, 2023, respectively. The weighted average discount rate was 5.1% and 4.8% as of June 30, 2024 and December 31, 2023, respectively.

As of June 30, 2024, the Company had additional minimum operating lease payments of $3,737 for executed leases that have not yet commenced, primarily for office locations.