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Leases | 3 Months Ended
--- | ---
Mar. 31, 2024
Leases [Abstract] |
Leases | Leases We have operating leases for office space, data centers and certain equipment. We also have finance leases for office space. Our leases have lease terms of 1 year to 35 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to terminate the leases within 1 year. Operating lease costs recognized in our Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 totaled $6.1 million and $6.8 million, respectively, including short-term lease costs of $1.0 million and $0.4 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.2 million for both the three months ended March 31, 2024 and 2023. Interest expense on the finance leases liability totaled $0.5 million for both the three months ended March 31, 2024 and 2023. Other information related to our leases was as follows:
(in thousands, except lease term and discount rate) |  | As of March 31, 2024 |  | As of December 31, 2023
Balance Sheet Information |  |  |  |
Operating Leases |  |  |  |
Right-of-use assets |  | $ | 101,676 |  |  | $ | 99,194 |
Other current liabilities |  | 18,307 |  |  | 19,466 |
Operating lease liabilities |  | 91,241 |  |  | 87,714 |
Finance Leases |  |  |  |
Property and equipment, at cost |  | 28,321 |  |  | 28,321 |
Accumulated depreciation |  | 1,061 |  |  | 862 |
Property and equipment, net |  | 27,260 |  |  | 27,459 |
Other liabilities |  | 30,470 |  |  | 30,146 |
Weighted Average Remaining Lease Term |  |  |  |
Operating leases |  | 7.80 years |  | 7.41 years
Finance leases |  | 34.25 years |  | 34.50 years
Weighted Average Discount Rate |  |  |  |
Operating leases |  | 4.94 | % |  | 4.43 | %
Finance leases |  | 7.10 | % |  | 7.10 | %
|  |  |  | Three Months Ended March 31,
(in thousands) |  |  |  |  |  | 2024 |  | 2023
Supplemental Cash Flows Information |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  |  |  |  |  | $ | 5,754 |  |  | $ | 6,379 |
Operating cash flows from finance leases |  |  |  |  |  | 213 |  |  | — |
Financing cash flows from finance leases |  |  |  |  |  | — |  |  | — |
Right-of-use assets obtained in exchange for operating lease obligations |  |  |  |  |  | 10,095 |  |  | 2,439 |
Right-of-use assets obtained in exchange for finance lease obligations |  |  |  |  |  | — |  |  | — |
Future minimum lease payments under non-cancellable leases as of March 31, 2024 were as follows:
(in thousands) |  | Operating Leases |  | Finance Leases
Remainder of 2024 |  | $ | 18,349 |  |  | $ | 1,089 |
2025 |  | 22,368 |  |  | 1,776 |
2026 |  | 20,497 |  |  | 1,824 |
2027 |  | 17,571 |  |  | 1,875 |
2028 |  | 14,219 |  |  | 1,926 |
Thereafter |  | 39,303 |  |  | 90,124 |
Total future minimum lease payments |  | 132,307 |  |  | 98,614 |
Less: Imputed interest |  | (22,759) |  |  | (68,144) |
Total |  | $ | 109,548 |  |  | $ | 30,470 |
Leases | Leases We have operating leases for office space, data centers and certain equipment. We also have finance leases for office space. Our leases have lease terms of 1 year to 35 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to terminate the leases within 1 year. Operating lease costs recognized in our Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 totaled $6.1 million and $6.8 million, respectively, including short-term lease costs of $1.0 million and $0.4 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.2 million for both the three months ended March 31, 2024 and 2023. Interest expense on the finance leases liability totaled $0.5 million for both the three months ended March 31, 2024 and 2023. Other information related to our leases was as follows:
(in thousands, except lease term and discount rate) |  | As of March 31, 2024 |  | As of December 31, 2023
Balance Sheet Information |  |  |  |
Operating Leases |  |  |  |
Right-of-use assets |  | $ | 101,676 |  |  | $ | 99,194 |
Other current liabilities |  | 18,307 |  |  | 19,466 |
Operating lease liabilities |  | 91,241 |  |  | 87,714 |
Finance Leases |  |  |  |
Property and equipment, at cost |  | 28,321 |  |  | 28,321 |
Accumulated depreciation |  | 1,061 |  |  | 862 |
Property and equipment, net |  | 27,260 |  |  | 27,459 |
Other liabilities |  | 30,470 |  |  | 30,146 |
Weighted Average Remaining Lease Term |  |  |  |
Operating leases |  | 7.80 years |  | 7.41 years
Finance leases |  | 34.25 years |  | 34.50 years
Weighted Average Discount Rate |  |  |  |
Operating leases |  | 4.94 | % |  | 4.43 | %
Finance leases |  | 7.10 | % |  | 7.10 | %
|  |  |  | Three Months Ended March 31,
(in thousands) |  |  |  |  |  | 2024 |  | 2023
Supplemental Cash Flows Information |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  |  |  |  |  | $ | 5,754 |  |  | $ | 6,379 |
Operating cash flows from finance leases |  |  |  |  |  | 213 |  |  | — |
Financing cash flows from finance leases |  |  |  |  |  | — |  |  | — |
Right-of-use assets obtained in exchange for operating lease obligations |  |  |  |  |  | 10,095 |  |  | 2,439 |
Right-of-use assets obtained in exchange for finance lease obligations |  |  |  |  |  | — |  |  | — |
Future minimum lease payments under non-cancellable leases as of March 31, 2024 were as follows:
(in thousands) |  | Operating Leases |  | Finance Leases
Remainder of 2024 |  | $ | 18,349 |  |  | $ | 1,089 |
2025 |  | 22,368 |  |  | 1,776 |
2026 |  | 20,497 |  |  | 1,824 |
2027 |  | 17,571 |  |  | 1,875 |
2028 |  | 14,219 |  |  | 1,926 |
Thereafter |  | 39,303 |  |  | 90,124 |
Total future minimum lease payments |  | 132,307 |  |  | 98,614 |
Less: Imputed interest |  | (22,759) |  |  | (68,144) |
Total |  | $ | 109,548 |  |  | $ | 30,470 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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