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Leases | 6 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
Leases | Leases The Company leases various operating spaces in the United States, Asia and Europe under non-cancellable operating lease arrangements that expire on various dates through July 2027. These arrangements require us to pay certain operating expenses, such as taxes, repairs and insurance, and contain renewal and escalation clauses. The table below presents the Company’s right-of-use assets and lease liabilities as of June 30, 2024 (in thousands):
|  | As of June 30, 2024 |  | As of December 31, 2023
Operating leases |  |  |
Right-of-use assets: |  |  |
| Other non-current assets | $ | 13,928 |  |  | $ | 16,376 |
Total right-of-use assets | $ | 13,928 |  |  | $ | 16,376 |
Lease liabilities: |  |  |
| Accrued liabilities | $ | 4,874 |  |  | $ | 4,998 |
| Other non-current liabilities | 9,445 |  |  | 11,822 |
Total operating lease liabilities | $ | 14,319 |  |  | $ | 16,820 |
The aggregate future lease payments for non-cancelable operating leases as of June 30, 2024 were as follows (in thousands):
Remainder of 2024 | $ | 2,685 |
2025 | 4,935 |
2026 | 4,893 |
2027 | 2,441 |
Total lease payments | 14,954 |
Less: imputed interest | (635) |
Present value of lease liabilities | $ | 14,319 |
The components of lease costs were as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease costs | $ | 1,075 |  |  | $ | 1,094 |  |  | $ | 2,160 |  |  | $ | 2,203 |
Short-term lease costs | 131 |  |  | 123 |  |  | 247 |  |  | 250 |
Total lease costs | $ | 1,206 |  |  | $ | 1,217 |  |  | $ | 2,407 |  |  | $ | 2,453 |
Average lease terms and discount rates for the Company’s operating leases were as follows:
| Three Months Ended June 30,
|  | 2024 |  | 2023
Weighted-average remaining term (years) | 2.92 |  | 3.84
Weighted-average discount rate | 3.2% |  | 3.2%
Supplemental cash flow information for the Company’s operating leases were as follows (in thousands):
|  | Three Months Ended June 30,
|  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
| Operating cash flows from operating leases | $ | 2,688 |  |  | $ | 2,661 |

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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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