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Leases | 12 Months Ended
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Dec. 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 34 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 Consolidated Statements of Operations totaled $22.8 million, $24.5 million and $25.9 million in 2024, 2023 and 2022, respectively, including short-term lease costs of $6.4 million, $3.5 million and $1.7 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.8 million for the years ended December 31, 2024 and 2023 and $0.1 million for the year ended December 31, 2022. Interest expense on the finance leases liability totaled $2.2 million, $2.1 million and $0.2 million for the years ended December 31, 2024, 2023 and 2022, respectively. Other information related to our leases was as follows:
|  | As of December 31,
(in thousands, except lease term and discount rate) |  | 2024 |  | 2023
Balance Sheet Information |  |  |  |
Operating Leases |  |  |  |
Right-of-use assets |  | $ | 90,136 |  |  | $ | 99,194 |
Other current liabilities |  | 18,087 |  |  | 19,466 |
Operating lease liabilities |  | 79,399 |  |  | 87,714 |
Finance Leases |  |  |  |
Property and equipment, at cost |  | 28,321 |  |  | 28,321 |
Accumulated depreciation |  | (1,658) |  |  | (862) |
Property and equipment, net |  | 26,663 |  |  | 27,459 |
Other liabilities |  | 31,021 |  |  | 30,146 |
Weighted Average Remaining Lease Term |  |  |  |
Operating leases |  | 7.37 years |  | 7.41 years
Finance leases |  | 33.50 years |  | 34.50 years
Weighted Average Discount Rate |  |  |  |
Operating leases |  | 5.01 | % |  | 4.43 | %
Finance leases |  | 7.10 | % |  | 7.10 | %
|  | For the years ended December 31,
(in thousands) |  | 2024 |  | 2023 |  | 2022
Supplemental Cash Flows Information |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 22,014 |  |  | $ | 24,114 |  |  | $ | 24,073 |
Operating cash flows from finance leases |  | 1,302 |  |  | 426 |  |  | — |
Financing cash flows from finance leases |  | — |  |  | — |  |  | — |
Right-of-use assets obtained in exchange for operating lease obligations |  | 13,486 |  |  | 6,789 |  |  | 6,217 |
Right-of-use assets obtained in exchange for finance lease obligations |  | — |  |  | — |  |  | 28,321 |
Future minimum lease payments under non-cancellable leases as of December 31, 2024 were as follows:
(in thousands) |  | Operating Leases |  | Finance Leases
2025 |  | $ | 22,674 |  |  | $ | 1,776 |
2026 |  | 21,140 |  |  | 1,824 |
2027 |  | 18,039 |  |  | 1,875 |
2028 |  | 14,736 |  |  | 1,926 |
2029 |  | 12,281 |  |  | 1,979 |
Thereafter |  | 28,698 |  |  | 88,145 |
Total future minimum lease payments |  | 117,568 |  |  | 97,525 |
Less: Imputed interest |  | (20,082) |  |  | (66,504) |
Total |  | $ | 97,486 |  |  | $ | 31,021 |
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 34 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 Consolidated Statements of Operations totaled $22.8 million, $24.5 million and $25.9 million in 2024, 2023 and 2022, respectively, including short-term lease costs of $6.4 million, $3.5 million and $1.7 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.8 million for the years ended December 31, 2024 and 2023 and $0.1 million for the year ended December 31, 2022. Interest expense on the finance leases liability totaled $2.2 million, $2.1 million and $0.2 million for the years ended December 31, 2024, 2023 and 2022, respectively. Other information related to our leases was as follows:
|  | As of December 31,
(in thousands, except lease term and discount rate) |  | 2024 |  | 2023
Balance Sheet Information |  |  |  |
Operating Leases |  |  |  |
Right-of-use assets |  | $ | 90,136 |  |  | $ | 99,194 |
Other current liabilities |  | 18,087 |  |  | 19,466 |
Operating lease liabilities |  | 79,399 |  |  | 87,714 |
Finance Leases |  |  |  |
Property and equipment, at cost |  | 28,321 |  |  | 28,321 |
Accumulated depreciation |  | (1,658) |  |  | (862) |
Property and equipment, net |  | 26,663 |  |  | 27,459 |
Other liabilities |  | 31,021 |  |  | 30,146 |
Weighted Average Remaining Lease Term |  |  |  |
Operating leases |  | 7.37 years |  | 7.41 years
Finance leases |  | 33.50 years |  | 34.50 years
Weighted Average Discount Rate |  |  |  |
Operating leases |  | 5.01 | % |  | 4.43 | %
Finance leases |  | 7.10 | % |  | 7.10 | %
|  | For the years ended December 31,
(in thousands) |  | 2024 |  | 2023 |  | 2022
Supplemental Cash Flows Information |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 22,014 |  |  | $ | 24,114 |  |  | $ | 24,073 |
Operating cash flows from finance leases |  | 1,302 |  |  | 426 |  |  | — |
Financing cash flows from finance leases |  | — |  |  | — |  |  | — |
Right-of-use assets obtained in exchange for operating lease obligations |  | 13,486 |  |  | 6,789 |  |  | 6,217 |
Right-of-use assets obtained in exchange for finance lease obligations |  | — |  |  | — |  |  | 28,321 |
Future minimum lease payments under non-cancellable leases as of December 31, 2024 were as follows:
(in thousands) |  | Operating Leases |  | Finance Leases
2025 |  | $ | 22,674 |  |  | $ | 1,776 |
2026 |  | 21,140 |  |  | 1,824 |
2027 |  | 18,039 |  |  | 1,875 |
2028 |  | 14,736 |  |  | 1,926 |
2029 |  | 12,281 |  |  | 1,979 |
Thereafter |  | 28,698 |  |  | 88,145 |
Total future minimum lease payments |  | 117,568 |  |  | 97,525 |
Less: Imputed interest |  | (20,082) |  |  | (66,504) |
Total |  | $ | 97,486 |  |  | $ | 31,021 |

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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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