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Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Minimum Rental Commitments under Operating Leases

The minimum rental commitments under these noncancelable operating leases are as follows (in thousands) as of March 31, 2024 and December 31, 2023:

			March 31, 2024						December 31, 2023
2024			$	7,018					$	9,373
2025			8,566						8,549
2026			8,115						8,111
2027			7,227						7,223
2028			5,496						5,496
Thereafter			19,827						19,827
Total future minimum lease payments			$	56,249					$	58,579
Discount effect of cash flows			(12,903)						(13,551)
Present value of net future minimum lease payments			$	43,346					$	45,028

Additional Information of Lease Expense

Additional information (dollar amounts in thousands):

			For the Three Months Ended
Lease expense:			March 31, 2024						March 31, 2023
Operating lease expense			$	2,598					$	1,955
Short-term lease expense			—						—
Variable lease expense			296						260
Total lease expense			$	2,894					$	2,215
Other information:
Cash paid for amounts included in the measurement of lease liabilities			$	2,710					$	2,023
Weighted-average remaining lease term (in years)			7.88						8.84
Weighted-average discount rate			3.42		%				3.48		%

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- Definition

Tabular disclosure of future minimum lease payments as of the latest balance sheet date presented in aggregate for each of the five succeeding fiscal years.

+ References

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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

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