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Operating leases | 3 Months Ended
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Mar. 31, 2025
Leases [Abstract] |
Operating leases | Operating leases Lease costs recorded under operating leases for three months ended March 31, 2025 and March 31, 2024 were as follows:
| Three Months Ended |  |  |
| March 31, 2025 | March 31, 2024 |  |  |  |  |
| (in thousands) |  |
Operating lease costs | $ | 11,199 |  | $ | 13,163 |  |  |  |  |  |
Income from sub-leases | (768) |  | (336) |  |  |  |  |  |
Net operating lease costs | $ | 10,431 |  | $ | 12,827 |  |  |  |  |  |
Of the total cost of $10.4 million incurred in the three months ended March 31, 2025 (March 31, 2024: $12.8 million), $8.9 million (March 31, 2024: $10.0 million) is recorded within selling, general and administration costs and $1.5 million (March 31, 2024: $2.8 million) is recorded within direct costs. During the three months ended March 31, 2025 and March 31, 2024, 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 March 31, 2025, totaled $7.0 million (March 31, 2024: $35.6 million). The weighted average remaining lease term and weighted-average discount rate at March 31, 2025 were 6.33 years and 3.93%, respectively. The weighted average remaining lease term and weighted-average discount rate at December 31, 2024 were 6.56 years and 4.01%, respectively. Future minimum lease payments under non-cancelable leases as of March 31, 2025 were as follows:
| (in thousands) |
Year 1 |  | $ | 42,309 |  |
Year 2 |  | 38,927 |  |
Year 3 |  | 32,339 |  |
Year 4 |  | 24,316 |  |
Year 5 |  | 17,843 |  |
Thereafter |  | 39,798 |  |
Total future minimum lease payments |  | 195,532 |  |
Lease imputed interest |  | (20,777) |  |
Total |  | $ | 174,755 |  |
Operating lease liabilities are presented as current and non-current. As at March 31, 2025, operating lease liabilities of $36.4 million have been included in Other liabilities (December 31, 2024: $36.8 million) and $138.4 million have been classified as Non-current Lease Liabilities (December 31, 2024: $140.1 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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