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Leases
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Leases Leases
The Company leases certain office facilities and equipment under non-cancelable operating leases with remaining terms from one to six years. The Company also had finance leases until the first quarter of this year.
Operating lease right-of-use (“ROU”) assets are included in other assets while finance lease ROU assets are included in "property and equipment, net" in the condensed consolidated balance sheets. With respect to operating lease liabilities, current operating lease liabilities are included in other current liabilities and non-current operating lease liabilities are included in long-term liabilities in the condensed consolidated balance sheets. Current finance lease liabilities are included in other current liabilities in the condensed consolidated balance sheets. At September 30, 2023, the weighted average remaining lease terms were 3.44 years for operating leases; the weighted average discount rate was 3.38% for operating leases. For additional information on the Company's leases, see Note 14 to the condensed consolidated financial statements included in the Company’s 2022 Annual Report.
The following table summarizes the lease-related assets and liabilities recorded in the condensed consolidated balance sheets at September 30, 2023 and December 31, 2022:
Lease PositionBalance Sheet ClassificationSEPTEMBER 30, 2023DECEMBER 31, 2022
(In thousands)
Assets
Operating lease assetsOperating lease right-of-use assets$9,727 $14,427 
Finance lease assetsProperty and equipment, net— 24 
Total lease assets$9,727 $14,451 
Liabilities
Current
OperatingOther current liabilities$4,446 $4,968 
FinanceOther current liabilities— 25 
Noncurrent
OperatingOperating lease liabilities, net of current portion7,234 10,133 
Total lease liabilities$11,680 $15,126 
The following table summarizes by year the maturities of our minimum lease payments as of September 30, 2023.
OPERATING
LEASES
(In thousands)
Remainder of 2023$1,561 
20244,075 
20253,306 
20262,115 
2027905 
Thereafter690 
Total future lease payments12,652 
Less: imputed interest(972)
Total$11,680 

Lease abandonment
In the third quarter of 2023, the Company recorded a lease abandonment expense of $1,602 and reduced its lease ROU assets for the same amount in connection with the evaluation of the Company's office space footprint. This expense is included within the general and administrative expenses in the Company's condensed consolidated statements of operations and comprehensive loss.
Leases Leases
The Company leases certain office facilities and equipment under non-cancelable operating leases with remaining terms from one to six years. The Company also had finance leases until the first quarter of this year.
Operating lease right-of-use (“ROU”) assets are included in other assets while finance lease ROU assets are included in "property and equipment, net" in the condensed consolidated balance sheets. With respect to operating lease liabilities, current operating lease liabilities are included in other current liabilities and non-current operating lease liabilities are included in long-term liabilities in the condensed consolidated balance sheets. Current finance lease liabilities are included in other current liabilities in the condensed consolidated balance sheets. At September 30, 2023, the weighted average remaining lease terms were 3.44 years for operating leases; the weighted average discount rate was 3.38% for operating leases. For additional information on the Company's leases, see Note 14 to the condensed consolidated financial statements included in the Company’s 2022 Annual Report.
The following table summarizes the lease-related assets and liabilities recorded in the condensed consolidated balance sheets at September 30, 2023 and December 31, 2022:
Lease PositionBalance Sheet ClassificationSEPTEMBER 30, 2023DECEMBER 31, 2022
(In thousands)
Assets
Operating lease assetsOperating lease right-of-use assets$9,727 $14,427 
Finance lease assetsProperty and equipment, net— 24 
Total lease assets$9,727 $14,451 
Liabilities
Current
OperatingOther current liabilities$4,446 $4,968 
FinanceOther current liabilities— 25 
Noncurrent
OperatingOperating lease liabilities, net of current portion7,234 10,133 
Total lease liabilities$11,680 $15,126 
The following table summarizes by year the maturities of our minimum lease payments as of September 30, 2023.
OPERATING
LEASES
(In thousands)
Remainder of 2023$1,561 
20244,075 
20253,306 
20262,115 
2027905 
Thereafter690 
Total future lease payments12,652 
Less: imputed interest(972)
Total$11,680 

Lease abandonment
In the third quarter of 2023, the Company recorded a lease abandonment expense of $1,602 and reduced its lease ROU assets for the same amount in connection with the evaluation of the Company's office space footprint. This expense is included within the general and administrative expenses in the Company's condensed consolidated statements of operations and comprehensive loss.