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Leases | 6 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
Leases | 6. Leases The Company applies the guidance under Topic 842 for leases of real estate facilities under non-cancelable operating leases. During the three months ended June 30, 2024, new leasing activities resulted in additional operating lease right-of-use assets of $9.8 million. These activities primarily consisted of extensions to lease terms for real estate facilities through fiscal year 2029. The longest remaining lease term, relating to the Company’s San Francisco headquarters, also has a five-year renewal option not included in the lease term as it was not reasonably certain of being exercised at the time of renewal. As part of these activities, the Company is entitled to receive $2.1 million in tenant incentives for future leasehold improvements to be constructed by the Company. The amount of cash restricted in connection with certain new and renewed lease agreements was also reduced by $2.5 million. The components of lease costs, supplemental cash flow information, lease term, and discount rate for operating leases are as follows (in thousands, except for percentages and years):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease costs | $ | 1,255 |  |  | $ | 1,564 |  |  | $ | 2,805 |  |  | $ | 3,234 |
Variable lease costs | $ | 308 |  |  | $ | 231 |  |  | $ | 553 |  |  | $ | 545 |
Cash paid for amounts included in the measurement of operating lease liabilities |  |  |  |  | $ | 3,673 |  |  | $ | 3,697 |
| June 30, |  | December 31,
| 2024 |  | 2023
Weighted average remaining term (years) | 3.7 |  | 1.3
Weighted average discount rate | 5.7 | % |  | 3.9 | %
Future minimum lease payments (net of expected tenant incentives) under noncancellable operating leases with initial lease terms in excess of one year as of June 30, 2024, were as follows (in thousands):
Remainder of 2024 | $ | 2,349 |
2025 | 2,927 |
2026 | 4,009 |
2027 | 2,231 |
2028 | 2,298 |
2029 | 1,166 |
Gross lease payments | 14,980 |
Less imputed interest | (1,899) |
Present value of operating lease liabilities | $ | 13,081 |

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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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