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Leases
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Leases Leases
The Company primarily enters into lessee arrangements for corporate office space, data centers, and technology equipment. For more information on lease accounting, see Note 2 "Summary of Significant Accounting Policies" and Note 15 "Leases" to the Consolidated Financial Statements of the Company's 2023 Annual Report on Form 10-K.

Lease assets and liabilities are summarized as follows:

(in thousands)Financial Statement LocationMarch 31, 2024December 31, 2023
Operating leases
Operating lease right-of-use assetsOperating lease right-of-use assets$212,689 $229,499 
Operating lease liabilitiesOperating lease liabilities260,483 278,317 
Finance leases
Property and equipment, at costProperty, equipment, and capitalized software, net40,828 40,857 
Accumulated depreciationProperty, equipment, and capitalized software, net(14,331)(11,781)
Finance lease liabilitiesAccounts payable, accrued expenses, and other liabilities27,163 29,609 

Weighted average remaining lease term and discount rate are as follows:

March 31, 2024December 31, 2023
Weighted average remaining lease term
Operating leases5.12 years5.25 years
Finance leases3.33 years3.50 years
Weighted average discount rate
Operating leases6.37 %6.40 %
Finance leases5.58 %5.51 %
The components of lease expense are as follows:

Three Months Ended March 31,
(in thousands)20242023
Operating lease cost:
Fixed$18,431 $18,878 
Variable1,508 1,764 
Total Operating lease cost$19,939 $20,642 
Sublease income4,692 4,889 
Finance lease cost:
Amortization of ROU Asset$2,579 $2,124 
Interest on lease liabilities412 208 
Total Finance lease cost$2,991 $2,332 

Future minimum lease payments under operating and finance leases with non-cancelable lease terms, as of March 31, 2024, are as follows:

(in thousands)Operating LeasesFinance Leases
2024$56,242 $8,406 
202568,658 7,677 
202666,540 6,683 
202731,137 5,513 
202827,999 1,941 
2029 and thereafter55,213 — 
Total lease payments$305,789 $30,220 
Less imputed interest(45,306)(3,057)
Total lease liability$260,483 $27,163 
Leases Leases
The Company primarily enters into lessee arrangements for corporate office space, data centers, and technology equipment. For more information on lease accounting, see Note 2 "Summary of Significant Accounting Policies" and Note 15 "Leases" to the Consolidated Financial Statements of the Company's 2023 Annual Report on Form 10-K.

Lease assets and liabilities are summarized as follows:

(in thousands)Financial Statement LocationMarch 31, 2024December 31, 2023
Operating leases
Operating lease right-of-use assetsOperating lease right-of-use assets$212,689 $229,499 
Operating lease liabilitiesOperating lease liabilities260,483 278,317 
Finance leases
Property and equipment, at costProperty, equipment, and capitalized software, net40,828 40,857 
Accumulated depreciationProperty, equipment, and capitalized software, net(14,331)(11,781)
Finance lease liabilitiesAccounts payable, accrued expenses, and other liabilities27,163 29,609 

Weighted average remaining lease term and discount rate are as follows:

March 31, 2024December 31, 2023
Weighted average remaining lease term
Operating leases5.12 years5.25 years
Finance leases3.33 years3.50 years
Weighted average discount rate
Operating leases6.37 %6.40 %
Finance leases5.58 %5.51 %
The components of lease expense are as follows:

Three Months Ended March 31,
(in thousands)20242023
Operating lease cost:
Fixed$18,431 $18,878 
Variable1,508 1,764 
Total Operating lease cost$19,939 $20,642 
Sublease income4,692 4,889 
Finance lease cost:
Amortization of ROU Asset$2,579 $2,124 
Interest on lease liabilities412 208 
Total Finance lease cost$2,991 $2,332 

Future minimum lease payments under operating and finance leases with non-cancelable lease terms, as of March 31, 2024, are as follows:

(in thousands)Operating LeasesFinance Leases
2024$56,242 $8,406 
202568,658 7,677 
202666,540 6,683 
202731,137 5,513 
202827,999 1,941 
2029 and thereafter55,213 — 
Total lease payments$305,789 $30,220 
Less imputed interest(45,306)(3,057)
Total lease liability$260,483 $27,163