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Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases Leases
The Company adopted ASC 842 as of January 1, 2022, on a modified retrospective basis with no cumulative adjustment to equity as of the adoption date. The Company has presented financial results and applied its accounting policies for the period beginning January 1, 2022 under ASC 842. The Company elected to take the practical expedient to not separate lease and non-lease components as part of the adoption. Lease agreements entered into after the adoption of ASC 842 that include lease and non-lease components are accounted for as a single lease component. Since January 1, 2022, the Company’s operating leases, excluding those with terms less than 12 months, have been discounted and recorded as assets and liabilities on the Company’s Consolidated Statement of Financial Position. The Company primarily has non-cancellable operating leases for office spaces across various countries. We categorize leases as either operating or finance leases at the commencement date of the respective lease.
The components of lease costs are as follows:
For the Year Ended
(Dollars in Thousands)December 31, 2024December 31, 2023December 31, 2022
(Predecessor)
Operating lease expense$12,680 $8,782 $2,974 
Variable lease expense2,709 3,165 1,353 
Short-term lease expense256 750 144 
Total lease expense$15,645 $12,697 $4,471 
Supplemental cash flow information and non-cash activity related to our operating leases are as follows:
For the Year Ended
(Dollars in Thousands)December 31, 2024December 31, 2023December 31, 2022
(Predecessor)
Operating cash flow information:
Operating cash flow from operating leases$8,027 $7,131 $2,930 
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations$6,239 $35,629 $2,621 
Weighted-average remaining lease term and discount rate for our operating leases are as follows:
As of December 31, 2024As of December 31, 2023
Weighted-average remaining lease term11.4611.94
Weighted-average discount rate5.99 %6.22 %
Future minimum lease payments for the Company’s operating leases as of December 31, 2024, are as follows:
Future Minimum Rental Operating Leases
(Dollars in Thousands)
2025$8,849 
20268,391 
20277,763 
20287,183 
20296,352 
2030 and beyond58,476 
Total lease payments97,014 
Less: Imputed interest33,959 
Present value of lease liabilities$63,055