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Leases | 3 Months Ended
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Mar. 31, 2023
Leases |
Leases | 7. Leases The Company has operating leases for off-campus classroom and laboratory sites, office space, office equipment, and optical fiber communication lines. These leases have remaining lease terms that range from six months to 10 years and five months. At lease inception, we determine the lease term by assuming no exercises of renewal options due to the Company’s constantly changing geographical needs for its university partners. Leases with an initial term of 12 months or less are not recorded in the consolidated balance sheets and we recognize lease expense for these leases on a straight-line basis over the lease term. The Company had operating lease costs of $3,018 and $2,396 for the three-month periods ended March 31, 2023 and 2022, respectively. As of March 31, 2023, the Company had $34,106 of non-cancelable operating lease commitments for six off-campus classroom and laboratory sites and $192 for optical fiber communication lines that had not yet commenced. The Company’s weighted-average remaining lease term relating to its operating leases is 7.85 years, with a weighted-average discount rate of 3.35%. As of March 31, 2023, the Company had no financing leases. Future payment obligations with respect to the Company’s operating leases, which were existing at March 31, 2023, by year and in the aggregate, are as follows: ​
​ | ​ | ​ | ​
Year Ending December 31, |  | Amount
2023 | ​ | $ | 8,244
2024 | ​ | ​ | 11,143
2025 | ​ | ​ | 10,867
2026 | ​ | ​ | 10,805
2027 | ​ | ​ | 10,193
Thereafter | ​ | ​ | 35,104
Total lease payments | ​ | $ | 86,356
Less interest | ​ | ​ | 10,895
Present value of lease liabilities | ​ | $ | 75,461
​

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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