v3.24.0.1

Leases | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Leases | LEASES The Company has entered into operating leases primarily for office real estate. The leases have remaining terms ranging from less than 1 year to 10 years and may include options to extend or terminate the lease. The depreciable life of ROU assets is limited by the expected lease term. The components of lease expense are as follows (in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Operating lease expense | $ | 83,060 |  |  | $ | 76,359 |  |  | $ | 46,410 |
Variable lease expense | 23,331 |  |  | 18,991 |  |  | 15,080 |
Total operating lease expense | $ | 106,391 |  |  | $ | 95,350 |  |  | $ | 61,490 |
Supplemental cash flow information related to leases is as follows (in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash outflows from operating leases | $ | 74,278 |  |  | $ | 56,370 |  |  | $ | 51,657 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | $ | 40,866 |  |  | $ | 231,728 |  |  | $ | 110,845 |
Decrease in operating lease right-of-use assets due to impairment (See Note 17) | $ | 131,646 |  |  | $ | — |  |  | $ | — |
Supplemental balance sheet information related to leases is as follows (in thousands, except lease term and discount rate):
| As of December 31,
| 2023 |  | 2022
Operating lease right-of-use assets | $ | 371,444 |  |  | $ | 521,695 |
Operating lease liability, current (included in Accrued liabilities) | 68,099 |  |  | 54,689 |
Operating lease liability, non-current | 586,174 |  |  | 584,651 |
Total operating lease liability | $ | 654,273 |  |  | $ | 639,340 |
Weighted-average remaining term for operating leases (in years) | 7.94 |  | 8.62
Weighted-average discount rate for operating leases | 3.94 | % |  | 3.80 | %
Future lease payments under operating leases as of December 31, 2023 are as follows (in thousands):
Year Ending December 31, | Operating Leases
2024 | $ | 89,751 |
2025 | 98,702 |
2026 | 100,237 |
2027 | 99,686 |
2028 | 100,099 |
Thereafter | 282,716 |
Total future lease payments | 771,191 |
Less: imputed interest | (110,068) |
Less: expected tenant improvement allowance | (6,850) |
Total (1) | $ | 654,273 |
(1) Total lease liabilities include liabilities related to operating lease right-of-use assets which were included in the impairment charges as part of the Company’s restructuring efforts. See Note 17 for additional details. As of December 31, 2023, the Company had no commitments relating to operating leases that have not yet commenced.

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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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