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Operating leases | 3 Months Ended
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Mar. 31, 2024
Leases [Abstract] |
Operating leases | Operating leases Lease costs recorded under operating leases for three months ended March 31, 2024 and March 31, 2023 were as follows:
| Three Months Ended |  |
| March 31, 2024 | March 31, 2023 |  |  |
| (in thousands) |  |
Operating lease costs | 13,163 |  | 12,871 |  |  |  |
Income from sub-leases | (336) |  | (278) |  |  |  |
Net operating lease costs | 12,827 |  | 12,593 |  |  |  |
Of the total cost of $12.8 million incurred in the three months ended March 31, 2024 (March 31, 2023: $12.6 million), $10.0 million (March 31, 2023: $10.0 million) is recorded within selling, general and administration costs and $2.8 million (March 31, 2023: $2.6 million) is recorded within direct costs. During the three months ended March 31, 2024 and March 31, 2023, costs incurred by the Group related to variable lease payments was de minimis. Right-of-use assets obtained, in exchange for lease obligations during the three months ended March 31, 2024, totaled $35.6 million (March 31, 2023: $12.3 million). The weighted average remaining lease term and weighted-average discount rate at March 31, 2024 were 7.17 years and 3.73%, respectively. The weighted average remaining lease term and weighted-average discount rate at December 31, 2023 was 6.72 years and 3.29%, respectively. Future minimum lease payments under non-cancelable leases as of March 31, 2024 were as follows:
| (in thousands) |
Year 1 |  | $ | 41,837 |  |
Year 2 |  | 36,980 |  |
Year 3 |  | 31,766 |  |
Year 4 |  | 25,788 |  |
Year 5 |  | 17,496 |  |
Thereafter |  | 49,864 |  |
Total future minimum lease payments |  | 203,731 |  |
Lease imputed interest |  | (22,135) |  |
Total |  | $ | 181,596 |  |
Operating lease liabilities are presented as current and non-current. As at March 31, 2024, operating lease liabilities of $36.1 million have been included in other liabilities (December 31, 2023: $36.4 million).

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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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