LEASES

3 Months Ended

Mar. 31, 2024

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		%