XML 27 R16.htm IDEA: XBRL DOCUMENT v3.25.1
Leases
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Leases Leases
The Company’s operating leases consist of office facilities, office equipment, and automobiles. As of March 31, 2025, the Company’s leases have remaining terms of less than one year to eight 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
March 31,
20252024
Operating lease cost (1)
$3,777 $3,695 
Variable lease cost1,171 1,173 
Total operating lease cost$4,948 $4,868 
(1)Operating lease cost includes rent cost related to operating leases for office facilities of $3,532 and $3,471 for the three months ended March 31, 2025 and 2024, respectively.
Supplemental operating cash flows and other information related to leases was as follows:
Three Months Ended
March 31,
20252024
Cash paid for operating leases included in operating cash flows$3,835 $3,850 
Right-of-use assets obtained in exchange for new operating lease liabilities$1,932 $1,838 
The weighted average remaining lease term for operating leases was 4.2 years and 4.3 years as of March 31, 2025 and December 31, 2024, respectively. The weighted average discount rate was 5.3% and 5.2% as of March 31, 2025 and December 31, 2024, respectively.
As of March 31, 2025, the Company had additional minimum operating lease payments of $496 for executed leases that have not yet commenced, primarily for office locations.