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Leases (Tables) | 6 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
Summary of Lease Costs | The components of lease costs for the three and six months ended June 30, 2024 and June 30, 2023 are as follows (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2024 |  |  | June 30, 2023 |  |  | June 30, 2024 |  |  | June 30, 2023 |
Operating lease cost |  | $ | 16,885 |  |  | $ | 17,129 |  |  | $ | 33,562 |  |  | $ | 33,754 |
Short-term lease cost |  |  | 3,780 |  |  |  | 3,396 |  |  |  | 7,432 |  |  |  | 7,059 |
Amortization of right-of-use assets |  |  | 835 |  |  |  | 670 |  |  |  | 1,612 |  |  |  | 1,186 |
Interest on lease liabilities |  |  | 104 |  |  |  | 65 |  |  |  | 198 |  |  |  | 98 |
Sublease income |  |  | (1,119 | ) |  |  | (1,239 | ) |  |  | (2,238 | ) |  |  | (2,363 | )
Total lease cost |  | $ | 20,485 |  |  | $ | 20,021 |  |  | $ | 40,566 |  |  | $ | 39,734 |
Schedule of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases for the three months ended June 30, 2024 and June 30, 2023 is as follows (in thousands):
|  | Six Months Ended |
|  | June 30, 2024 |  |  | June 30, 2023 |
Operating cash flows for operating leases |  | $ | 34,189 |  |  | $ | 35,076 |
Operating cash flows for finance leases |  |  | 198 |  |  |  | 98 |
Financing cash flows from finance leases |  |  | 1,536 |  |  |  | 1,166 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  |  | 6,400 |  |  |  | 43,398 |
Right-of-use assets obtained in exchange for new finance lease liabilities |  | $ | 2,506 |  |  | $ | 3,412 |
Schedule of Supplemental Balance Sheet and Other Information Related to Leases | Supplemental balance sheet and other information related to leases as of June 30, 2024 and December 31, 2023 are as follows (in thousands):
|  | June 30, 2024 |  |  | December 31, 2023 |
Operating Leases: |  |  |  |  |  |
Right-of-use assets |  | $ | 136,169 |  |  | $ | 159,211 |
Lease liabilities: |  |  |  |  |  |
Current |  |  | 52,840 |  |  |  | 58,556 |
Long-term |  |  | 98,152 |  |  |  | 117,505 |
Total operating lease liabilities |  | $ | 150,992 |  |  | $ | 176,061 |
Finance Leases: |  |  |  |  |  |
Other noncurrent assets |  | $ | 8,704 |  |  | $ | 7,779 |
Accrued expenses and other current liabilities |  | $ | 3,206 |  |  | $ | 2,682 |
Other long-term liabilities |  | $ | 5,649 |  |  | $ | 5,129 |
Weighted Average Remaining Lease Term: |  |  |  |  |  |
Operating leases |  | 3.7 Years |  |  | 3.9 years |
Finance leases |  | 3 Years |  |  | 3.1 years |
Weighted Average Discount Rate: |  |  |  |  |  |
Operating leases |  |  | 4.3 | % |  |  | 4.2 | %
Finance leases |  |  | 4.8 | % |  |  | 4.6 | %
Schedule of Maturity Analysis of Future Undiscounted Cash Flows | A maturity analysis of the future undiscounted cash flows associated with the Company’s operating and finance lease liabilities as of June 30, 2024 is as follows (in thousands):
|  | Operating Leases |  |  | Finance Leases |
2024 (remaining) |  | $ | 31,387 |  |  | $ | 1,817 |
2025 |  |  | 49,993 |  |  |  | 3,235 |
2026 |  |  | 33,356 |  |  |  | 2,580 |
2027 |  |  | 20,033 |  |  |  | 1,400 |
2028 |  |  | 15,319 |  |  |  | 466 |
Thereafter |  |  | 13,394 |  |  |  | 8 |
Total lease payments |  |  | 163,482 |  |  |  | 9,506 |
Less: imputed interest |  |  | (12,490 | ) |  |  | (651 | )
Total present value of lease liabilities |  | $ | 150,992 |  |  | $ | 8,855 |

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