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Leases | 6 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
Leases | 5. Leases Amounts reported on the Company’s Unaudited Condensed Consolidated Balance Sheets for operating leases were as follows:
|  | June 30, 2024 |  |  | December 31, 2023 |
|  | (Amounts in Thousands) |
Operating lease assets, net |  | $ | 44,145 |  |  | $ | 45,433 |
Short-term operating lease liabilities (in accrued expenses) |  |  | 11,224 |  |  |  | 11,339 |
Long-term operating lease liabilities |  |  | 38,359 |  |  |  | 39,711 |
Total operating lease liabilities |  | $ | 49,583 |  |  | $ | 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 June 30, (Amounts in Thousands) |  |  | For the Six Months Ended June 30, (Amounts in Thousands) |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Operating lease costs |  | $ | 3,373 |  |  | $ | 3,292 |  |  | $ | 6,669 |  |  | $ | 6,334 |
Short-term lease costs |  |  | 179 |  |  |  | 284 |  |  |  | 380 |  |  |  | 700 |
Total lease costs |  |  | 3,552 |  |  |  | 3,576 |  |  |  | 7,049 |  |  |  | 7,034 |
Less: sublease income |  |  | (491 | ) |  |  | (700 | ) |  |  | (1,089 | ) |  |  | (1,399 | )
Total lease costs, net |  | $ | 3,061 |  |  | $ | 2,876 |  |  | $ | 5,960 |  |  | $ | 5,635 |
Lease Term and Discount Rate Weighted average remaining lease terms and discount rates were as follows:
|  | June 30, 2024 |  |  | December 31, 2023 |
Operating leases: |  |  |  |  |  |
Weighted average remaining lease term (years) |  |  | 5.98 |  |  |  | 6.26 |
Weighted average discount rate |  |  | 5.80 | % |  |  | 5.47 | %
Maturity of Lease Liabilities Remaining operating lease payments as of June 30, 2024 were as follows:
|  | Operating Leases |
|  | (Amounts in Thousands) |
Due in the 12-month period ended June 30, |  |  |
2025 |  | $ | 7,368 |
2026 |  |  | 11,955 |
2027 |  |  | 9,534 |
2028 |  |  | 6,974 |
2029 |  |  | 5,707 |
Thereafter |  |  | 17,799 |
Total future minimum rental commitments |  |  | 59,337 |
Less: Imputed interest |  |  | (9,754 | )
Total lease liabilities |  | $ | 49,583 |
Supplemental Cash Flows Information
|  | For the Six Months Ended June 30, |
|  | (Amounts in Thousands) |
|  | 2024 |  |  | 2023 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 7,224 |  |  | $ | 7,010 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |  |
Operating leases |  | $ | 4,509 |  |  | $ | 14,415 |

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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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