XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Leases | 9 Months Ended
--- | ---
Sep. 30, 2022
Leases [Abstract] |
Leases | Note 5 — Leases All of the Company’s leases are operating leases, the majority of which are for office space. Operating lease right-of-use (“ROU”) assets and non-current operating lease liabilities are included as individual line items on the Consolidated Balance Sheets, while short-term operating lease liabilities are recorded within accrued expenses and other current liabilities. Leases with an initial term of twelve months or less are not recorded on the Consolidated Balance Sheets and are not material. The components of lease expense were as follows (in thousands):
|  | For the Three Months Ended September 30, |
|  | 2022 |  |  | 2021 |
Operating lease cost |  | $ | 3,546 |  |  | $ | 3,999 |
Short-term lease cost |  |  | 214 |  |  |  | 120 |
Variable lease cost |  |  | 1,000 |  |  |  | 1,472 |
Sublease income |  |  | (192 | ) |  |  | (192 | )
Total lease cost |  | $ | 4,568 |  |  | $ | 5,399 |
|  | For the Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |
Operating lease cost |  | $ | 10,798 |  |  | $ | 11,881 |
Short-term lease cost |  |  | 526 |  |  |  | 306 |
Variable lease cost |  |  | 4,013 |  |  |  | 4,187 |
Sublease income |  |  | (575 | ) |  |  | (358 | )
Total lease cost |  | $ | 14,762 |  |  | $ | 16,016 |
Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):
|  | For the Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 9,556 |  |  | $ | 8,526 |
Operating lease ROU assets obtained in exchange for lease obligations |  | $ | 172 |  |  | $ | 7,505 |
Weighted-average remaining lease term - operating leases (years) |  |  | 5.3 |  |  |  | 6.1 |
Weighted-average discount rate - operating leases |  |  | 4.3 | % |  |  | 4.3 | %
Future minimum lease payments under non-cancelable leases and estimated future sublease cash receipts from non-cancelable arrangements as of September 30, 2022 are as follows (in thousands):
|  | Operating Lease |  |  | Sublease |
|  | Payments |  |  | Cash Receipts |
2022 (remainder) |  | $ | 4,182 |  |  | $ | 195 |
2023 |  |  | 16,272 |  |  |  | 606 |
2024 |  |  | 15,848 |  |  |  | 624 |
2025 |  |  | 13,934 |  |  |  | — |
2026 |  |  | 12,084 |  |  |  | — |
Thereafter |  |  | 13,841 |  |  |  | — |
Total lease payments and estimated sublease cash receipts |  |  | 76,161 |  |  | $ | 1,425 |
Less imputed interest |  |  | (9,167 | ) |  |  |
Present value of lease liabilities |  | $ | 66,994 |  |  |  |
Lease balances as of September 30, 2022 are as follows (in thousands):
Operating lease ROU assets |  | $ | 55,637 |
Short-term operating lease liabilities (1) |  | $ | 13,455 |
Non-current operating lease liabilities |  |  | 53,539 |
Total operating lease liabilities |  | $ | 66,994 |
(1) Included in accrued expenses and other current liabilities on the Consolidated Balance Sheets. The Company’s leases do not contain residual value guarantees, material restrictions, or covenants.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration