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Leases | 9 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Leases | Note 9. Leases The Company leases real estate from unrelated parties under operating lease agreements that have initial terms ranging from one year to 11 years. Some leases include one or more options to renew, generally at our sole discretion, of five additional years each. The components of lease expense are as follows:
| Three months ended September 30, |  | Nine months ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (in thousands)
Operating lease cost | $ | 1,578 |  |  | $ | 1,851 |  |  | $ | 4,875 |  |  | $ | 5,928 |
Variable lease cost | 478 |  |  | 374 |  |  | 1,587 |  |  | 1,121 |
Short-term lease cost | 109 |  |  | 80 |  |  | 258 |  |  | 268 |
Total lease cost | $ | 2,165 |  |  | $ | 2,305 |  |  | $ | 6,720 |  |  | $ | 7,317 |
Supplemental cash flow information related to leases is as follows:
| Three months ended September 30, |  | Nine months ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (in thousands)
Cash paid for operating lease liabilities | $ | 1,127 |  |  | $ | 2,105 |  |  | $ | 4,860 |  |  | $ | 6,080 |
Operating lease assets obtained in exchange for operating lease liabilities | $ | — |  |  | $ | 177 |  |  | $ | 183 |  |  | $ | 810 |
Supplemental balance sheet information, included in other non-current assets, accrued expenses and other and other non-current liabilities on the condensed consolidated balance sheets, related to leases is as follows:
| September 30, |  | December 31,
| 2023 |  | 2022
| (in thousands)
Operating lease right-of-use assets | $ | 16,394 |  |  | $ | 21,756 |
Current operating lease liabilities | 3,692 |  |  | 5,239 |
Long-term operating lease liabilities | 19,256 |  |  | 22,500 |
Total operating lease liabilities | $ | 22,948 |  |  | $ | 27,739 |
At September 30, 2023 and December 31, 2022, the weighted average remaining lease term for operating leases was 6.03 years and 6.34 years, respectively, and the weighted average discount rate w as 4.9%. Future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities recognized on the balance sheet as of September 30, 2023 is as follows (in thousands):
Year ended December 31, |
2023 (remainder of year) | $ | 1,450 |
2024 | 4,751 |
2025 | 4,421 |
2026 | 4,225 |
2027 | 3,775 |
Thereafter | 8,512 |
Total lease payments | 27,134 |
Less: imputed interest | 4,187 |
Total present value of lease liabilities | $ | 22,948 |
In addition to what is included in the table above, as of September 30, 2023, we have entered into an office lease that has not yet commenced with aggregate future lease payments of approximately $1.6 million. This lease is expected to commence in the fourth quarter 2023, and will have a lease term of approximately three years.

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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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