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Operating Leases | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Operating Leases | Operating Leases Lease costs recorded under operating leases for the years ended December 31, 2023, 2022 and 2021 were as follows:
| Year ended
| December 31, 2023 | December 31, 2022 | December 31, 2021
| (in thousands)
Operating lease costs | $ | 46,820 |  | $ | 53,880 |  | $ | 51,200 |
Income from sub-leases | (1,103) |  | (1,165) |  | (1,338) |
Net operating lease costs | $ | 45,717 |  | $ | 52,715 |  | $ | 49,862 |
Of the total cost of $45.7 million incurred in the year ended December 31, 2023, $37.9 million is recorded within selling, general and administration costs and $7.8 million is recorded within direct costs. Of the total cost of $52.7 million incurred in the year ended December 31, 2022, $48.3 million is recorded within selling, general and administration costs and $4.4 million is recorded within direct costs. Of the total cost of $49.9 million incurred in the year ended December 31, 2021, $47.5 million is recorded within selling, general and administration costs and $2.4 million is recorded within direct costs. Right-of-use assets obtained, in exchange for lease obligations, during the years ended December 31, 2023 and December 31, 2022 totaled $37.7 million and $28.7 million, respectively. During the years ended December 31, 2023, 2022 and 2021, impairments of operating right-of-use assets were recognized within restructuring charges for $8.7 million, $24.8 million, and $15.4 million, respectively, as part of an office consolidation program (see note 19 - Restructuring Charges). The weighted average remaining lease term and weighted-average discount rate at December 31, 2023 were 6.72 years and 3.29%, respectively. The weighted average remaining lease term and weighted-average discount rate at December 31, 2022 were 6.90 years and 2.45%, respectively. Future minimum lease payments under non-cancelable leases as of December 31, 2023 were as follows:
| Minimum rental payments
| (in thousands)
2024 | $ | 40,894 |
2025 | 34,585 |
2026 | 29,172 |
2027 | 23,254 |
2028 | 15,023 |
Thereafter | 33,998 |
Total future minimum lease payments | 176,926 |
Lease imputed interest | (14,191) |
Total | $ | 162,735 |
Operating lease liabilities are presented as current and non-current. Operating lease liabilities of $36.4 million and $43.7 million have been included in other liabilities as at December 31, 2023 and December 31, 2022, respectively.

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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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