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Leases | 3 Months Ended
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Mar. 31, 2024
Leases [Abstract] |
Leases | 3. Leases Amounts reported on the Company’s Unaudited Condensed Consolidated Balance Sheets for operating leases were as follows:
|  | March 31, 2024 |  |  | December 31, 2023 |
|  | (Amounts in Thousands) |
Operating lease assets, net |  | $ | 44,699 |  |  | $ | 45,433 |
Short-term operating lease liabilities (in accrued expenses) |  |  | 11,307 |  |  |  | 11,339 |
Long-term operating lease liabilities |  |  | 39,044 |  |  |  | 39,711 |
Total operating lease liabilities |  | $ | 50,351 |  |  | $ | 51,050 |
Lease Costs Components of lease costs were reported in general and administrative expenses in the Company’s Unaudited Condensed Consolidated Statements of Income as follows:
|  | For the Three Months Ended March 31, (Amounts in Thousands) |
|  | 2024 |  |  | 2023 |
Operating lease costs |  | $ | 3,296 |  |  | $ | 3,042 |
Short-term lease costs |  |  | 201 |  |  |  | 416 |
Total lease costs |  |  | 3,497 |  |  |  | 3,458 |
Less: sublease income |  |  | (598 | ) |  |  | (700 | )
Total lease costs, net |  | $ | 2,899 |  |  | $ | 2,758 |
Lease Term and Discount Rate Weighted average remaining lease terms and discount rates were as follows:
|  | March 31, 2024 |  |  | December 31, 2023 |
Operating leases: |  |  |  |  |  |
Weighted average remaining lease term |  |  | 6.11 |  |  |  | 6.26 |
Weighted average discount rate |  |  | 5.64 | % |  |  | 5.47 | %
Maturity of Lease Liabilities Remaining operating lease payments as of March 31, 2024 were as follows:
|  | Operating Leases |
|  | (Amounts in Thousands) |
Due in the 12-month period ended March 31, |  |  |
2025 |  | $ | 10,663 |
2026 |  |  | 11,299 |
2027 |  |  | 8,959 |
2028 |  |  | 6,493 |
2029 |  |  | 5,496 |
Thereafter |  |  | 17,390 |
Total future minimum rental commitments |  |  | 60,300 |
Less: Imputed interest |  |  | (9,949 | )
Total lease liabilities |  | $ | 50,351 |
Supplemental cash flows information
|  | For the Three Months Ended March 31, |
|  | (Amounts in Thousands) |
|  | 2024 |  |  | 2023 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 3,589 |  |  | $ | 3,374 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |  |
Operating leases |  | $ | 2,137 |  |  | $ | 10,836 |

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- 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
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