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Leases (Tables)

12 Months Ended

Dec. 31, 2023

The components of lease expense were as follows:


		Year Ended December 31,
(In thousands)	Classification	2023		2022
Operating lease cost
Operating lease cost	Operating and SG&A expenses	$	50,118	$	55,907
Variable lease cost	Operating and SG&A expenses	12,612		17,943
Short-term lease cost	Operating and SG&A expenses	8,649		4,796
Total operating lease cost		$	71,379	$	78,646

Finance lease cost
Amortization of leased assets	Depreciation and amortization	$	475	$	934
Interest on lease liabilities	Interest expense, net	89		114
Total finance lease cost		$	564	$	1,048

Supplemental cash flow information related to leases was as follows:


	Year Ended December 31,
(In thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used under operating lease agreements	$	50,605	$	55,846
Operating cash flows used under finance lease agreements	87		109
Financing cash flows used under finance lease agreements	527		541

Supplemental balance sheet information related to leases was as follows:


	December 31,
(In thousands)	2023		2022
Operating leases
Operating lease right-of-use assets, gross	$	92,481	$	193,565
Accumulated amortization	(13,085)		(45,672)
Operating lease right-of-use assets, net	$	79,396	$	147,893

Current portion of operating leases	$	13,745	$	42,200
Non-current operating leases	81,325		121,979
Total operating lease liabilities	$	95,070	$	164,179

Finance leases
Property and equipment, gross	$	5,719	$	5,719
Accumulated depreciation	(3,594)		(3,341)
Property and equipment, net	$	2,125	$	2,378

Current portion of finance leases	$	158	$	465
Non-current finance leases	1,533		1,692
Total finance lease liabilities	$	1,691	$	2,157

The following presents additional information related to the Company’s leases as of December 31, 2023:


	December 31,
	2023		2022
Weighted Average Remaining Lease Term
Operating leases	7.3 years		7.5 years
Finance leases	23.5 years		18.0 years

Weighted Average Discount Rate
Operating leases	6.3	%	5.9	%
Finance leases	6.8	%	6.4	%

As of December 31, 2023, maturities of lease liabilities were as follows:


(In thousands)	Operating Leases		Finance Leases		Total
2024	$	19,485	$	227	$	19,712
2025	18,914		200		19,114
2026	17,187		200		17,387
2027	14,129		214		14,343
2028	11,389		217		11,606
Thereafter	52,844		2,997		55,841
Total lease payments	133,948		4,055		138,003
Amount of interest	(38,878)		(2,364)		(41,242)
Present value of lease liabilities	$	95,070	$	1,691	$	96,761

Minimum and contingent operating lease income was as follows:

Future minimum rent payments to be received under operating leases are as follows (in thousands):


Year Ending December 31,	Amount
2024	$	5,160
2025	4,792
2026	4,061
2027	1,300
2028	857
Thereafter	1,555
Total future minimum rent payments	$	17,725