v3.24.1.1.u2

LEASES | 3 Months Ended
--- | ---
Mar. 31, 2024
Leases [Abstract] |
LEASES | LEASES Leasing Guidance The Company recognizes the assets and liabilities that arise from leases on the commencement date of the lease. The Company recognizes the liability to make lease payments as a lease liability, as well as a right-of-use ("ROU") asset representing the right to use the underlying asset for the lease term, on the condensed consolidated balance sheet. Lease Expense The components of lease expense were as follows:
|  | Three Months Ended March 31,
Lease Cost |  | 2024 |  | 2023
|  | (amounts in thousands)
Operating lease cost |  | $ | 11,828 |  |  | $ | 12,304 |
Variable lease cost |  | 3,826 |  |  | 2,850 |
Short-term lease cost |  | 5 |  |  | — |
Non-cash impairment of ROU Assets and other costs related to impairment of leases |  | 156 |  |  | 5,050 |
Total lease cost |  | $ | 15,815 |  |  | $ | 20,204 |
During the three months ended March 31, 2024, the Company paid $3.6 million to terminate or amend leases in San Francisco, Atlanta, Providence and Denver, and recorded a net gain of $3.0 million. Supplemental Lease Information Supplemental information related to leases was as follows:
|  |  |  | Three Months Ended March 31,
Other information related to leases |  |  |  |  |  | 2024 |  | 2023
|  |  |  |  | (dollars in thousands)
Supplemental cash flow information: |  |  |  |  |  |  |  |
Cash paid for amounts included in measurement of lease liabilities |  |  |  |  |  | $ | 13,429 |  |  | $ | 13,469 |
Lease liabilities arising from obtaining right-of-use assets |  |  |  |  |  | $ | 3,358 |  |  | $ | 16,476 |
Other supplementary information: |  |  |  |  |  |  |  |
Weighted-average remaining lease term - operating leases |  |  |  |  |  | 6.34 years |  | 6.67 years
Weighted-average discount rate - operating leases |  |  |  |  |  | 5.13 | % |  | 4.86 | %

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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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