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Leases
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Leases Leases
Operating lease cost details for the three months ended March 31, 2024 and 2023 are as follows:
Three Months Ended
March 31,
(In thousands)20242023
Building rent$312 $523 
Automobile rentals347 250 
Total net operating lease costs$659 $773 
At March 31, 2024, the Company’s weighted average remaining lease term for its operating leases is 5.2 years, and the weighted average discount rate for its operating leases is 5%.
During the three months ended March 31, 2024, there were $0.7 million of operating cash payments for lease liabilities and $0.5 million of right-of use assets obtained in exchange for new lease liabilities.
In October 2023, the Company signed a lease agreement to lease new office space in Brussels. The lease agreement consisted of a nine-year lease that is expected to commence in the second quarter of 2024. The Company will record a right of use asset and liability at the commencement date, which is expected to result in total lease term payments of $1.3 million.
Maturities of the Company’s operating leases as of March 31, 2024 are as follows:
(In thousands)As of
March 31, 2024
2024$1,792 
20251,687 
20261,594 
20271,411 
20281,304 
Later years1,347 
Less imputed interest(1,221)
Accrued lease termination fees714 
Total lease liabilities$8,628