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Leases (Tables)
6 Months Ended
Jun. 30, 2024
Leases [Abstarct]  
Schedule of Lease Costs The following table presents the Company’s lease costs (in thousands):
   Three Months Ended
June 30,
   Six Months Ended
June 30,
 
   2024   2023   2024   2023 
Operating lease costs  $5,178   $4,620   $9,964   $9,505 
Variable lease costs   1,173    1,204    2,042    2,177 
Total lease costs  $6,351   $5,824   $12,006   $11,682 

 

Schedule of Operating Lease Liabilities The table below reconciles the undiscounted cash flows for each of the first five years and total remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet at June 30, 2024 (in thousands):
2024 (excluding the six months ended June 30, 2023)(a)  $10,093 
2025   21,274 
2026   19,926 
2027   19,688 
2028   19,666 
Thereafter   54,681 
Total operating lease payments   145,328 
Less – lease payments representing interest   (27,989)
Present value of operating lease payments  $117,339 
(a) Amount consists of $10.8 million of undiscounted cash flows offset by $0.7 million of tenant improvement allowances which are expected to be fully utilized in fiscal 2024.
Schedule of Supplemental information Related to the Consolidated Statement of Cash Flows The following table provides supplemental information related to the Company’s condensed consolidated statement of cash flows for the six months ended June 30, 2024 and 2023 (in thousands):
   Six Months Ended
June 30,
 
   2024   2023 
Cash paid for amounts included in present value of operating lease liabilities (b)  $8,388   $6,691 
Right-of-use assets obtained in exchange for operating lease liabilities   2,981    3,518 
(b)Operating cash flows paid for operating leases are included within the change in operating leases, net within the condensed consolidated statement of cash flows offset by non-cash ROU asset amortization and lease liability accretion.