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Operating leases | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Operating leases | Operating leases Lease costs recorded under operating leases for three and nine months ended September 30, 2024 and September 30, 2023 were as follows:
| Three Months Ended | Nine Months Ended |  |
| September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2023 |  |  |
| (in thousands) |  |
Operating lease costs | $ | 12,263 |  | $ | 11,850 |  | $ | 34,713 |  | $ | 37,539 |  |  |  |
Income from sub-leases | (340) |  | (284) |  | (977) |  | (845) |  |  |  |
Net operating lease costs | $ | 11,923 |  | $ | 11,566 |  | $ | 33,736 |  | $ | 36,694 |  |  |  |
Of the total cost of $11.9 million incurred in the three months ended September 30, 2024 (September 30, 2023: $11.6 million), $10.6 million (September 30, 2023: $8.8 million) is recorded within selling, general and administration costs and $1.3 million (September 30, 2023: $2.8 million) is recorded within direct costs. Of the total cost of $33.7 million incurred in the nine months ended September 30, 2024 (September 30, 2023: $36.7 million), $28.6 million (September 30, 2023: $28.1 million) is recorded within selling, general and administration costs and $5.1 million (September 30, 2023: $8.6 million) is recorded within direct costs. During the nine months ended September 30, 2024 and September 30, 2023, costs incurred by the Group related to variable lease payments were de minimis. Right-of-use assets obtained, in exchange for lease obligations during the three months ended September 30, 2024, totaled $13.3 million (September 30, 2023: $2.1 million). Right-of-use assets obtained, in exchange for lease obligations during the nine months ended September 30, 2024, totaled $59.9 million (September 30, 2023: $24.6 million). The weighted average remaining lease term and weighted-average discount rate at September 30, 2024 were 6.72 and 3.79%, respectively. The weighted average remaining lease term and weighted-average discount rate at December 31, 2023 were 6.72 years and 3.29%, respectively. Future minimum lease payments under non-cancelable leases as of September 30, 2024 were as follows:
| (in thousands) |
Year 1 |  | $ | 44,534 |  |
Year 2 |  | 39,371 |  |
Year 3 |  | 32,510 |  |
Year 4 |  | 24,789 |  |
Year 5 |  | 18,197 |  |
Thereafter |  | 47,063 |  |
Total future minimum lease payments |  | 206,464 |  |
Lease imputed interest |  | (22,242) |  |
Total |  | $ | 184,222 |  |
Operating lease liabilities are presented as current and non-current. As at September 30, 2024, operating lease liabilities of $38.5 million have been included in Other liabilities (December 31, 2023: $36.4 million) and $145.7 million have been classified as Non-current Lease Liabilities (December 31, 2023: $126.3 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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