XML 31 R15.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Leases | 12 Months Ended
--- | ---
Dec. 31, 2023
Leases [Abstract] |
Leases | Leases We lease certain office space, residential space, buildings and land with various lease terms through May 2043. Certain office leases include one or more options to renew, with renewal terms that can extend the lease term from 1 to 5 years. The exercise of lease renewal options is at our sole discretion and are assessed whether to factor as part of the lease term at lease inception. Our leases generally require us to pay a proportionate share of real estate taxes, insurance, common area maintenance, and other operating costs in addition to a base or fixed rent. The components of lease expense recognized in the consolidated statements of operations were as follows (in thousands):
| Year ended December 31,
| 2023 |  | 2022 |  | 2021
Operating lease cost | $ | 5,595 |  |  | $ | 5,778 |  |  | $ | 4,750 |
Finance lease cost: |  |  |  |  |
Amortization of right-of-use assets | 880 |  |  | 880 |  |  | 880 |
Interest on lease obligations | 811 |  |  | 861 |  |  | 956 |
Short-term lease cost | 3,008 |  |  | 3,045 |  |  | 1,667 |
Variable lease cost | 971 |  |  | 1,189 |  |  | 1,163 |
| $ | 11,265 |  |  | $ | 11,753 |  |  | $ | 9,416 |
Supplemental cash flow information related to leases was as follows (in thousands):
| Year ended December 31,
| 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 6,215 |  |  | $ | 6,876 |  |  | $ | 6,028 |
Finance cash flows from finance leases | 505 |  |  | 1,575 |  |  | 1,705 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | $ | 3,563 |  |  | $ | 1,816 |  |  | $ | 6,299 |
Finance leases | — |  |  | — |  |  | — |
Other supplemental information related to leases was as follows:
| As of December 31,
| 2023 |  | 2022 |  | 2021
Weighted Average Remaining Lease Term (in years) |  |  |  |  |
Operating leases | 5.0 |  | 5.4 |  | 5.7
Finance leases | 19.4 |  | 20.4 |  | 21.4
Weighted Average Discount Rate |  |  |  |  |
Operating leases | 5.7 | % |  | 5.4 | % |  | 4.9 | %
Finance leases | 5.5 | % |  | 5.5 | % |  | 5.5 | %
As of December 31, 2023, the aggregate annual lease obligations were as follows (in thousands):
| Operating Leases |  | Finance Leases
2024 | $ | 6,048 |  |  | $ | 1,315 |
2025 | 4,137 |  |  | 1,315 |
2026 | 3,061 |  |  | 1,315 |
2027 | 1,721 |  |  | 1,315 |
2028 | 1,499 |  |  | 1,315 |
Thereafter | 2,364 |  |  | 16,030 |
Total lease obligations | 18,830 |  |  | 22,605 |
Less: Amount representing interest | (2,684) |  |  | (8,023) |
Net lease obligations | $ | 16,146 |  |  | $ | 14,582 |
Leases | Leases We lease certain office space, residential space, buildings and land with various lease terms through May 2043. Certain office leases include one or more options to renew, with renewal terms that can extend the lease term from 1 to 5 years. The exercise of lease renewal options is at our sole discretion and are assessed whether to factor as part of the lease term at lease inception. Our leases generally require us to pay a proportionate share of real estate taxes, insurance, common area maintenance, and other operating costs in addition to a base or fixed rent. The components of lease expense recognized in the consolidated statements of operations were as follows (in thousands):
| Year ended December 31,
| 2023 |  | 2022 |  | 2021
Operating lease cost | $ | 5,595 |  |  | $ | 5,778 |  |  | $ | 4,750 |
Finance lease cost: |  |  |  |  |
Amortization of right-of-use assets | 880 |  |  | 880 |  |  | 880 |
Interest on lease obligations | 811 |  |  | 861 |  |  | 956 |
Short-term lease cost | 3,008 |  |  | 3,045 |  |  | 1,667 |
Variable lease cost | 971 |  |  | 1,189 |  |  | 1,163 |
| $ | 11,265 |  |  | $ | 11,753 |  |  | $ | 9,416 |
Supplemental cash flow information related to leases was as follows (in thousands):
| Year ended December 31,
| 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 6,215 |  |  | $ | 6,876 |  |  | $ | 6,028 |
Finance cash flows from finance leases | 505 |  |  | 1,575 |  |  | 1,705 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | $ | 3,563 |  |  | $ | 1,816 |  |  | $ | 6,299 |
Finance leases | — |  |  | — |  |  | — |
Other supplemental information related to leases was as follows:
| As of December 31,
| 2023 |  | 2022 |  | 2021
Weighted Average Remaining Lease Term (in years) |  |  |  |  |
Operating leases | 5.0 |  | 5.4 |  | 5.7
Finance leases | 19.4 |  | 20.4 |  | 21.4
Weighted Average Discount Rate |  |  |  |  |
Operating leases | 5.7 | % |  | 5.4 | % |  | 4.9 | %
Finance leases | 5.5 | % |  | 5.5 | % |  | 5.5 | %
As of December 31, 2023, the aggregate annual lease obligations were as follows (in thousands):
| Operating Leases |  | Finance Leases
2024 | $ | 6,048 |  |  | $ | 1,315 |
2025 | 4,137 |  |  | 1,315 |
2026 | 3,061 |  |  | 1,315 |
2027 | 1,721 |  |  | 1,315 |
2028 | 1,499 |  |  | 1,315 |
Thereafter | 2,364 |  |  | 16,030 |
Total lease obligations | 18,830 |  |  | 22,605 |
Less: Amount representing interest | (2,684) |  |  | (8,023) |
Net lease obligations | $ | 16,146 |  |  | $ | 14,582 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration