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Leases (Tables)
9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Schedule of Operating Lease Assets and Liabilities
The following table presents the assets and liabilities related to the Company’s leases:
September 30,
2023
December 31, 2022
Lease assets:
Right-of-use assets$120,359 $127,014 
Total lease assets120,359 127,014 
Lease liabilities:
Current lease liabilities23,086 22,546 
Non-current lease liabilities147,096 150,832 
Total lease liabilities$170,182 $173,378 
Lease, Cost
The following table details the Company’s net lease expense:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Operating lease expense$7,853 $6,408 $22,784 $18,701 
Variable lease expense(1)
359 920 1,607 2,794 
Net lease expense$8,212 $7,328 $24,391 $21,495 
(1) Variable lease expense primarily consists of contingent rent.
The following table presents other relevant lease information:
September 30,
2023
Weighted average remaining lease term (years)5.7
Weighted average discount rate4.8 %
Lessee, Operating Lease, Liability, Maturity
The following table presents the future maturity of lease liabilities:
Operating Leases(1)
2023$7,559 
202433,661 
202534,612 
202633,782 
202730,577 
Thereafter58,749 
Future minimum lease payments198,940 
Impact of discounting28,758 
Present value of lease payments$170,182 
(1) The year 2023 and 2024 include $2.6 million and $7.8 million of expected cash inflows from TIAs. Operating lease payments exclude $9.3 million of legally binding minimum lease payments related to executed leases for which the Company has not yet taken possession of the leased premises.