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Commitments and Contingencies Supplemental Balance Sheet Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Leases [Abstract]      
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability $ 3,140 $ 17,882  
Operating cash flows from operating leases $ 10,703 $ 10,161  
Commitments and Contingencies ote O - Commitments and Contingencies
In the normal course of business, the Company and its subsidiaries are involved in various claims and legal proceedings. While the ultimate resolution of these matters has yet to be determined, the Company does not believe that any unfavorable outcomes will have a material adverse effect on the Company's consolidated financial position or results of operations.
Leases
The Company and its subsidiaries lease office and manufacturing facilities, computer equipment and software under various arrangements. Certain of the leases are subject to escalation clauses and renewal periods. The Company
and its subsidiaries recognize lease expense, including predetermined fixed escalations, on a straight-line basis over the initial term of the lease including reasonably assured renewal periods from the time that the Company and its subsidiaries control the leased property. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. Certain of our subsidiaries have leases that contain both fixed rent costs and variable rent costs based on achievement of certain operating metrics. The variable lease expense was not a material component of our total lease expense for the three months ended March 31, 2024 and 2023. The Company recognized $11.4 million and $11.9 million in the three months ended March 31, 2024 and March 31, 2023, respectively, in expense related to operating leases in the condensed consolidated statements of operations.
The maturities of lease liabilities at March 31, 2024 are as follows (in thousands):
2024 (excluding three months ended March 31, 2024)$34,423 
202544,058 
202643,102 
202738,084 
202829,754 
Thereafter76,407 
Total undiscounted lease payments$265,828 
Less: Interest65,351 
Present value of lease liabilities$200,477 
The calculated amount of the right-of-use assets and lease liabilities are impacted by the length of the lease term and discount rate used to present value the minimum lease payments. The Company's lease agreements often include one or more options to renew at the company's discretion. In general, it is not reasonably certain that lease renewals will be exercised at lease commencement and therefore lease renewals are not included in the lease term. As the discount rate is rarely determinable, the Company utilizes the incremental borrowing rate of the subsidiary entering into the lease arrangement, on a collateralized basis, over a similar term as adjusted for any country specific risk.
The weighted average remaining lease terms and discount rates for all of our operating leases were as follows:
Lease Term and Discount RateMarch 31, 2024March 31, 2023
Weighted-average remaining lease term (years)6.546.42
Weighted-average discount rate8.61 %7.85 %
Supplemental balance sheet information related to leases was as follows (in thousands):
Line Item in the Company’s Consolidated Balance SheetMarch 31, 2024December 31, 2023
Operating lease right-of-use assetsOther non-current assets$174,085 $177,581 
Current portion, operating lease liabilitiesOther current liabilities$30,424 $29,228 
Operating lease liabilitiesOther non-current liabilities$170,053 $173,586 
Supplemental cash flow information related to leases was as follows (in thousands):
Three months ended March 31, 2024Three months ended March 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
   Operating cash flows from operating leases$10,703 $10,161 
Right-of-use assets obtained in exchange for lease obligations:
   Operating leases$3,140 $17,882 
    
Other Commitments [Line Items]      
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other Assets   Other Assets
Other Noncurrent Liabilities [Member]      
Other Commitments [Line Items]      
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other non-current liabilities   Other non-current liabilities
Other current liabilities      
Other Commitments [Line Items]      
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other current liabilities   Other current liabilities