XML 33 R16.htm IDEA: XBRL DOCUMENT v3.24.0.1
Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases Leases
The Company leases certain offices, computer equipment and its shared cloud platform facilities under non-cancelable operating leases for varying periods through 2028. While under the Company's lease agreements the Company has options to extend its certain leases, the Company has not included renewal options in determining the lease terms for calculating its lease liabilities, as these options are not reasonably certain of being exercised. Lease expense was $16.1 million, $14.9 million and $16.8 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Supplemental cash flow information related to operating leases was as follows:
Year Ended December 31,
202320222021
(in thousands)
Cash payments included in the measurement of lease liabilities$14,984 $15,751 $14,646 
Lease liabilities arising from obtaining right-of-use assets$121 $8,669 $4,110 
The weighted average remaining lease term and the weighted average discount rate of the Company's operating leases were as follows:
December 31,
20232022
Weighted average remaining lease term (years)3.13.7
Weighted average discount rate5.2 %5.2 %
Maturities of the Company's operating lease liabilities as of December 31, 2023 are as follows:
(in thousands)
2024$13,053 
20257,747 
20264,498 
20274,353 
20281,466 
Total minimum lease payments31,117 
Less: interest(2,375)
Present value of net minimum lease payments28,742 
Less: lease liabilities, current(11,857)
Lease liabilities, noncurrent$16,885 
Leases Leases
The Company leases certain offices, computer equipment and its shared cloud platform facilities under non-cancelable operating leases for varying periods through 2028. While under the Company's lease agreements the Company has options to extend its certain leases, the Company has not included renewal options in determining the lease terms for calculating its lease liabilities, as these options are not reasonably certain of being exercised. Lease expense was $16.1 million, $14.9 million and $16.8 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Supplemental cash flow information related to operating leases was as follows:
Year Ended December 31,
202320222021
(in thousands)
Cash payments included in the measurement of lease liabilities$14,984 $15,751 $14,646 
Lease liabilities arising from obtaining right-of-use assets$121 $8,669 $4,110 
The weighted average remaining lease term and the weighted average discount rate of the Company's operating leases were as follows:
December 31,
20232022
Weighted average remaining lease term (years)3.13.7
Weighted average discount rate5.2 %5.2 %
Maturities of the Company's operating lease liabilities as of December 31, 2023 are as follows:
(in thousands)
2024$13,053 
20257,747 
20264,498 
20274,353 
20281,466 
Total minimum lease payments31,117 
Less: interest(2,375)
Present value of net minimum lease payments28,742 
Less: lease liabilities, current(11,857)
Lease liabilities, noncurrent$16,885