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Leases (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Lease, Cost | The following table presents the balance sheet information related to leases as of December 31, 2023 and 2022:
(in thousands) |  | December 31, 2023 |  | December 31, 2022
Leases |  |
Operating lease right-of-use assets |  | $ | 115,811 |  |  | $ | 78,598 |
Operating lease liabilities |  | $ | 130,576 |  |  | $ | 91,694 |
The following table presents the weighted-average operating lease term and weighted-average discount rate as of December 31, 2023 and 2022:
|  | December 31, 2023 |  | December 31, 2022
Weighted-average remaining lease term (years) |  | 6.1 |  | 5.7
Weighted-average discount rate |  | 4.08 | % |  | 2.86 | %
The following table presents the components of lease expense for the years ended December 31, 2023, 2022, and 2021:
(in thousands) |  |  |  |  |  |
Lease Costs |  | 2023 |  | 2022 |  | 2021
Operating lease costs |  | $ | 36,378 |  |  | $ | 30,383 |  |  | $ | 29,694 |
Short-term lease costs |  | 1,367 |  |  | 421 |  |  | 609 |
Variable lease costs |  | 13 |  |  | 26 |  |  | 22 |
Sublease income |  | (3,173) |  |  | (2,504) |  |  | (2,626) |
Net lease costs |  | $ | 34,585 |  |  | $ | 28,326 |  |  | $ | 27,699 |
The Company performs impairment assessments for ROU assets when events or changes in circumstances indicate that their carrying values may not be recoverable. For the years ended December 31, 2023 and 2022, there were $2.6 million and $1.8 million, respectively, in ROU asset impairments recorded in other expenses. The impairments were due to the closures or consolidations of leased locations. The following table presents the supplemental cash flow information related to leases for the year ended December 31, 2023, 2022, and 2021:
(in thousands) |  |  |  |  |  |
Cash Flows |  | 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 38,384 |  |  | $ | 30,420 |  |  | $ | 31,697 |
Right of use assets obtained in exchange for new operating lease liabilities |  | $ | 73,252 |  |  | $ | 24,954 |  |  | $ | 15,033 |
Lessee, Operating Lease, Liability, Maturity | The following table presents the maturities of lease liabilities as of December 31, 2023:
(in thousands) | Operating
Year | Leases
2024 | $ | 33,857 |
2025 | 28,574 |
2026 | 23,394 |
2027 | 16,988 |
2028 | 13,457 |
Thereafter | 33,367 |
Total lease payments | 149,637 |
Less: imputed interest | (19,061) |
Total lease liabilities | $ | 130,576 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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