XML 31 R21.htm IDEA: XBRL DOCUMENT
v3.24.2

Leases | 6 Months Ended
--- | ---
Jun. 30, 2024
Leases [Abstract] |
Leases | Leases Operating Leases Operating lease arrangements primarily consist of office leases expiring in various years through 2029. These leases have original terms of approximately 2 to 8 years and some contain options to extend the lease up to 5 years or terminate the lease, which are included in right-of-use assets and lease liabilities when the Company is reasonably certain it will renew the underlying leases. Since the implicit rate of such leases is unknown and the Company is not reasonably certain to renew its leases, the Company has elected to apply a collateralized incremental borrowing rate to facility leases on the original lease term in calculating the present value of future lease payments. As of June 30, 2024 and December 31, 2023, the weighted average discount rate for operating leases was 4.7% and 4.6%, respectively, and the weighted average remaining lease term for operating leases was 3.6 years and 3.9 years, respectively, as of the end of each of these periods. The table below presents aggregate future minimum payments due under leases, reconciled to total lease liabilities included in the consolidated balance sheet as of June 30, 2024:
| Operating Leases
| (in thousands)
2024 (6 months) | $ | 5,501 |
2025 | 10,647 |
2026 | 8,293 |
2027 | 5,952 |
2028 | 2,455 |
Thereafter | 1,596 |
Total minimum payments | 34,444 |
Less: imputed interest | (3,297) |
Total lease liabilities | 31,147 |
Less: short-term lease liabilities | (9,625) |
Long-term lease liabilities | $ | 21,522 |
Operating lease cost was $2.5 million and $2.5 million for the three months ended June 30, 2024 and 2023, respectively. Operating lease cost was $5.1 million and $5.4 million for the six months ended June 30, 2024 and 2023, respectively. Short-term lease costs for the six months ended June 30, 2024 and 2023 were not material. There were $0.3 million and $12.0 million of right-of-use assets obtained in exchange for new lease liabilities for the three months ended June 30, 2024 and 2023, respectively. There were $1.2 million and $12.2 million of right-of-use assets obtained in exchange for new lease liabilities for the six months ended June 30, 2024 and 2023, respectively.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration