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Leases (Tables) | 12 Months Ended
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Dec. 31, 2025
Leases [Abstract] |
Schedule of aggregate minimum lease commitments for operating leases | Aggregate minimum lease payments on an undiscounted basis for the Company's operating leases and a reconciliation to accrued lease liabilities included on the consolidated statements of financial condition as of December 31, 2025 were as follows:
(Amounts in thousands) |
2026 | $ | 26,835 |
2027 | 24,937 |
2028 | 16,876 |
2029 | 15,177 |
2030 | 13,015 |
Thereafter | 56,254 |
Total operating lease payments | 153,094 |
Less: Tenant improvement allowances | (1,427) |
Less: Present value discount | (50,316) |
Total accrued lease liabilities | $ | 101,351 |
Schedule of operating lease costs | The following table summarizes the Company's operating lease costs:
|  |  | Year Ended December 31,
(Amounts in millions) |  |  |  |  | 2025 |  | 2024 |  | 2023
Operating lease costs |  |  |  |  | $ | 24.5 |  |  | $ | 22.6 |  |  | $ | 21.9 |
Supplemental Operating Lease Information | Other information related to the Company's operating leases is as follows:
|  |  |  |  | Year Ended December 31,
(Amounts in millions) |  |  |  |  | 2025 |  | 2024
Cash paid for lease liabilities |  |  |  |  | $ | 27.4 |  |  | $ | 25.9 |
ROU lease assets obtained in exchange for lease liabilities (i.e., new leases and amendments commenced during the period) |  |  |  |  | 36.3 |  |  | 19.1 |
|  |  |  |  | December 31, |  | December 31,
|  |  |  |  | 2025 |  | 2024
Weighted average remaining lease term (in years) |  |  |  |  | 7.9 |  | 5.3
Weighted average discount rate |  |  |  |  | 5.9 | % |  | 5.0 | %

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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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