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Leases | 9 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Leases | Leases: The Company's operating lease portfolio primarily includes corporate offices and call centers. The majority of its leases have remaining lease terms of one to 11 years, so me of which include options to extend the leases for up to five years, and others include options to terminate the leases within one year. Exercises of lease renewal options are typically at the Company's sole discretion, with renewal periods included in ROU assets and lease liabilities based upon whether the Company is reasonably certain of exercising the renewal options. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. As most of the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The components of lease expense for the three and nine months ended September 30, 2023 and 2022, were as follows (amounts in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Operating lease expense | $ | 2,617 |  |  | $ | 2,775 |  |  | $ | 8,132 |  |  | $ | 9,095 |
Short-term lease expense | 526 |  |  | 775 |  |  | 1,553 |  |  | 1,874 |
Sublease income | (21) |  |  | (118) |  |  | (296) |  |  | (348) |
Total lease expense | $ | 3,122 |  |  | $ | 3,432 |  |  | $ | 9,389 |  |  | $ | 10,621 |
Supplemental cash flow information and non-cash activity related to leases for the nine months ended September 30, 2023 and 2022 was as follows (amounts in thousands):
| Nine Months Ended September 30,
| 2023 |  | 2022
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 8,806 |  |  | $ | 8,923 |
ROU assets obtained in exchange for operating lease obligations (1) | 2,663 |  |  | 5,910 |
(1) Includes the impact of new leases as well as remeasurements and modifications to existing leases. Lease term and discount rate information related to operating leases was as follows:
| Nine Months Ended September 30,
| 2023 |  | 2022
Weighted-average remaining lease term (years) | 7.1 |  | 8.2
Weighted-average discount rate | 4.65 | % |  | 4.48 | %
Maturities of lease liabilities at September 30, 2023 were as follows for the following periods (amounts in thousands):
| Operating Leases |  |
For the three months ending December 31, 2023 | $ | 2,600 |  |  |
For the year ending December 31, 2024 | 9,879 |  |  |
For the year ending December 31, 2025 | 9,608 |  |  |
For the year ending December 31, 2026 | 8,490 |  |  |
For the year ending December 31, 2027 | 5,724 |  |  |
Thereafter | 25,391 |  |  |
Total lease payments | 61,692 |  |  |
Less: imputed interest | (10,034) |  |  |
Total present value of lease liabilities | $ | 51,658 |  |  |

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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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