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Lease Commitments (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease-Related Assets and Liabilities The following table presents the lease-related assets and liabilities recorded on the Company's Consolidated Balance Sheets related to its operating leases:

 

(in thousands)

 

Classification on Balance Sheet

 

December 31,
2024

 

December 31,
2023

 

Assets:

 

 

 

 

 

 

 

Operating lease

 

Operating lease right-of-use assets, net

 

$

78,808

 

$

88,615

 

Liabilities:

 

 

 

 

 

 

 

Current operating lease liabilities

 

Current operating lease liabilities

 

 

24,541

 

 

24,351

 

Noncurrent operating lease liabilities

 

Noncurrent operating lease liabilities

 

 

66,811

 

 

78,029

 

Total operating lease liabilities

 

 

 

$

91,352

 

$

102,380

 

 

 

 

 

 

 

 

Weighted-Average Remaining Lease Term

 

 

 

4.40 years

 

4.98 years

 

Weighted-Average Discount Rate

 

 

 

 

5.8

%

 

5.7

%

Lease Cost

The components of operating lease costs within the Company's Consolidated Statements of Operations consisted of the following:

 

 

 

Year Ended

 

(in thousands)

 

December 31, 2024

 

December 31, 2023

 

Operating lease cost

 

$

30,933

 

$

30,782

 

Variable lease cost

 

 

8,084

 

 

8,457

 

Sublease income

 

 

(1,275

)

 

(178

)

Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to operating leases were as follows:

 

 

 

Year Ended

 

(in thousands)

 

December 31, 2024

 

December 31, 2023

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

Operating cash flows for operating leases

 

$

32,776

 

$

32,040

 

 

 

 

 

 

Right-of-use assets obtained in exchange for lease obligations

 

$

15,510

 

$

19,609

 

Operating Lease Maturities

Future undiscounted operating lease payments reconciled to total operating lease liabilities are as follows:

 

(in thousands)

 

December 31, 2024

 

2025

 

$

29,040

 

2026

 

 

24,940

 

2027

 

 

17,122

 

2028

 

 

12,727

 

2029

 

 

10,086

 

Thereafter

 

 

9,716

 

Total undiscounted lease payments

 

 

103,631

 

Less imputed interest

 

 

(12,279

)

Present value of future lease payments

 

$

91,352