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Leases (Notes)
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Leases
Note F – Leases
The Company leases office space, sample production space, warehouses, showrooms, storage units, and retail stores pursuant to operating leases. The Company’s portfolio of leases is primarily related to real estate. Since most of its leases do not provide a readily determinable implicit rate, the Company estimates its incremental borrowing rate to discount the lease payments based on information available at lease commencement.
Some of the Company’s retail store leases provide for variable lease payments based on sales volumes at the leased location, which are not measurable at the inception of the lease and are therefore not included in the measurement of the right-of-use assets and lease liabilities. Under Topic 842, these variable lease costs are expensed as incurred.
Lease Position
The following table presents the lease-related assets and liabilities recorded on the Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023:
 Classification on the Balance SheetSeptember 30, 2024December 31, 2023
Assets
Noncurrent(1)
Operating lease right-of-use asset$148,391$122,783
Liabilities
CurrentOperating leases – current portion$43,812$40,342
NoncurrentOperating leases – long-term portion118,67498,536
Total operating lease liabilities$162,486$138,878
Weighted-average remaining lease term4.7 years4.5 years
Weighted-average discount rate5.3 %5.1 %
(1) During the three and nine months ended September 30, 2023, the Company recorded a pre-tax impairment charge related to its right-of-use assets of $0 and $95, recorded in the Wholesale Footwear Segment.

Lease Costs

The following table presents the composition of lease costs during the three and nine months ended September 30, 2024 and 2023:

Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Operating lease cost $12,852 $10,573 $36,163 $30,276 
Variable lease cost792 945 2,374 2,791 
Less: sublease income66 66 130 198 
Total lease cost$13,578 $11,452 $38,407 $32,869 

Other Information

The following table presents supplemental cash and non-cash information related to the Company's operating leases during the three and nine months ended September 30, 2024 and 2023:

Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Cash paid for amounts included in the measurement of lease liabilities
     Operating cash flows used for operating leases$13,069 $11,311 $37,155 $32,704 
Noncash transactions
Right-of-use asset obtained in exchange for new operating lease liabilities$15,628 $6,180 $58,348 $50,769 
Right-of-use asset amortization expense(1)
$10,717 $9,993 $32,740 $27,880 
(1) Included in "Leases and other liabilities" in the Consolidated Statement of Cash Flows.
Future Minimum Lease Payments

The following table presents future minimum lease payments for each of the first five years and the total for the remaining years as of September 30, 2024:

2024 (remaining three months)$13,467 
202549,020 
202639,962 
202728,167 
202820,857 
Thereafter32,893 
Total minimum lease payments184,366 
Less: interest21,880 
Total lease liabilities$162,486