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Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of Lease Cost
The following table presents the components of the Company’s lease cost, lease term and discount rate during the years ended December 31, 2023, 2022 and 2021 (in thousands, except years and percentages):
Year Ended December 31,
202320222021
Lease Cost
Operating lease cost$22,955 $20,305 $11,646 
Finance lease cost:
Amortization of right-of-use assets
3,350 3,253 3,082 
Interest on lease liabilities1,375 1,439 1,495 
Variable lease cost(1)
10,835 10,012 6,699 
Total lease costs$38,515 $35,009 $22,922 
Weighted Average Remaining Lease Term
Operating leases12.5 years13.4 years13.1 years
Finance leases10.3 years11.4 years12.2 years
Weighted Average Discount Rate
Operating leases5.07 %4.94 %4.92 %
Finance leases5.37 %5.30 %5.30 %
(1) Variable lease costs represent payments that are dependent on usage, a rate or index. Variable lease cost primarily relates to common area maintenance charges for its real estate leases as the Company does not separate lease from non-lease components.
Schedule of Maturities of Operating Lease Liabilities
The following table is a schedule, by years, of maturities of the Company's operating and finance lease liabilities as of December 31, 2023 (in thousands):
Operating Lease Payments(1)
Finance Lease Payments
Year Ending December 31:
2024$21,290 $3,559 
202521,148 3,484 
202621,080 3,098 
202720,818 2,989 
202820,886 2,935 
Thereafter181,071 18,044 
Total undiscounted lease payments286,293 34,109 
Less imputed interest(77,861)(8,198)
Present value of lease liabilities$208,432 $25,911 
(1) The table above excludes the estimated future minimum lease payments of Phase 2 of the 620 Roseville Parkway Lease due to uncertainty around when Phase 2 lease will commence and payments will be due. The total estimated lease payments of the Phase 2 lease is approximately $10.3 million.
Schedule of Maturities of Finance Lease Liabilities
The following table is a schedule, by years, of maturities of the Company's operating and finance lease liabilities as of December 31, 2023 (in thousands):
Operating Lease Payments(1)
Finance Lease Payments
Year Ending December 31:
2024$21,290 $3,559 
202521,148 3,484 
202621,080 3,098 
202720,818 2,989 
202820,886 2,935 
Thereafter181,071 18,044 
Total undiscounted lease payments286,293 34,109 
Less imputed interest(77,861)(8,198)
Present value of lease liabilities$208,432 $25,911 
(1) The table above excludes the estimated future minimum lease payments of Phase 2 of the 620 Roseville Parkway Lease due to uncertainty around when Phase 2 lease will commence and payments will be due. The total estimated lease payments of the Phase 2 lease is approximately $10.3 million.
Schedule of Supplemental Cash Flow Disclosures
Supplemental cash flow information related to leases during the years ended December 31, 2023, 2022 and 2021 are as follows (in thousands):
Year Ended December 31,
202320222021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$19,662 $17,554 $9,690 
Financing cash flows from finance leases$1,981 $1,751 $1,451 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$9,339 $72,279 $101,510 
Finance leases$1,118 $305 $1,346