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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Summary of Components of Lease Expense

The components of lease expense for 2024, 2023, and 2022 were as follows (in thousands):

 

 

 

2024

 

 

2023

 

 

2022

 

Operating lease expense

 

$

13,222

 

 

$

16,073

 

 

$

21,516

 

Variable lease expense

 

 

2,847

 

 

 

3,299

 

 

 

4,103

 

Short-term lease expense

 

 

944

 

 

 

1,115

 

 

 

1,105

 

Sublease income

 

 

(1,746

)

 

 

(2,691

)

 

 

(2,246

)

Total net lease expense

 

$

15,267

 

 

$

17,796

 

 

$

24,478

 

Summary of Other Information Related to Operating Leases

Other information related to leases for 2024, 2023, and 2022 was as follows (in thousands, except term and discount rate):

 

 

 

2024

 

 

2023

 

 

2022

 

Supplemental Cash Flows Information:

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of
     operating lease liabilities

 

$

15,285

 

 

$

20,559

 

 

$

21,125

 

Right-of-use assets obtained in exchange for new
     operating lease liabilities

 

 

2,348

 

 

 

2,787

 

 

 

3,817

 

Weighted-average remaining lease term - operating
     leases

 

65 months

 

 

58 months

 

 

54 months

 

Weighted-average discount rate - operating
     leases

 

 

4.08

%

 

 

3.95

%

 

 

3.84

%

Summary of Future Minimum Lease Payments Under Non-cancellable Operating Leases

Future minimum lease payments under non-cancelable leases as of December 31, 2024 were as follows (in thousands):

 

2025

 

$

12,274

 

2026

 

 

5,570

 

2027

 

 

5,119

 

2028

 

 

4,933

 

2029

 

 

4,278

 

Thereafter

 

 

8,492

 

Total future minimum lease payments (1)

 

 

40,666

 

Less: Interest (2)

 

 

(4,579

)

Total

 

$

36,087

 

 

 

 

 

Current operating lease liabilities

 

$

11,067

 

Non-current operating lease liabilities

 

 

25,020

 

Total

 

$

36,087

 

 

(1)
For leases commencing prior to 2019, minimum lease payments exclude payments for real estate taxes and non-lease components.
(2)
We use our functional currency adjusted incremental borrowing rate for the discount rate.