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Leases (Tables) | 3 Months Ended
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Mar. 31, 2025
Leases [Abstract] |
Lease, Cost | Net lease expense consists of the following:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Operating lease expense | $ | 9,357 |  |  | $ | 8,091 |  |  |  |  |
Variable lease expense(1) | 355 |  |  | 196 |  |  |  |  |
Net lease expense | $ | 9,712 |  |  | $ | 8,287 |  |  |  |  |
(1) Variable lease expense primarily consists of contingent rent. The following tables present other relevant lease information:
| March 31, 2025
Weighted average remaining lease term (years) | 6.3
Weighted average discount rate | 5.6 | %
| Three Months Ended March 31,
| 2025 |  | 2024
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 11,447 |  |  | $ | 10,400 |
Lease assets obtained in exchange for new operating lease liabilities | $ | 5,806 |  |  | $ | 13,527 |
Lessee, Operating Lease, Liability, Maturity | The following table presents future lease payments:
| Operating Leases(1)
2025 | $ | 23,223 |
2026 | 46,641 |
2027 | 49,411 |
2028 | 44,789 |
2029 | 35,895 |
Thereafter | 72,784 |
Future minimum lease payments | 272,743 |
Impact of discounting | 49,083 |
Present value of lease payments | $ | 223,660 |
(1) The years 2025 and 2026 include $12.0 million and $4.0 million of expected cash inflows from tenant improvement allowances. Operating lease payments exclude $7.0 million of legally binding minimum lease payments related to executed leases for which the Company has not yet taken possession of the leased premises.

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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 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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