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Leases (Tables)
9 Months Ended
Sep. 30, 2024
Leases [Abstarct]  
Schedule of Lease Costs The following table presents the Company’s lease costs (in thousands):
   Three Months Ended
September 30,
   Nine Months Ended
September 30,
 
   2024   2023   2024   2023 
Operating lease costs  $4,808   $5,065   $14,772   $14,570 
Variable lease costs   1,033    1,063    3,075    3,240 
Total lease costs  $5,841   $6,128   $17,847   $17,810 

 

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 September 30, 2024 (in thousands):
2024 (excluding the nine months ended September 30, 2024)(a)  $5,187 
2025   21,397 
2026   19,442 
2027   16,772 
2028   16,384 
Thereafter   45,079 
Total operating lease payments   124,261 
Less – lease payments representing interest   (22,483)
Present value of operating lease payments  $101,778 
(a) Amount consists of $5.5 million of undiscounted cash flows offset by $0.4 million of tenant improvement allowances which are expected to be fully utilized in fiscal 2024.
Schedule of Supplemental Information Related to the Company’s Condensed Consolidated Statement of Cash Flows The following table provides supplemental information related to the Company’s condensed consolidated statement of cash flows for the nine months ended September 30, 2024 and 2023 (in thousands):
   Nine Months Ended
September 30,
 
   2024   2023 
Cash paid for amounts included in present value of operating lease liabilities (b)  $12,426   $9,525 
Right-of-use assets obtained in exchange for operating lease liabilities   2,981    7,031 
  (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.