Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Components of Lease Cost

The components of lease costs were as follows for the years ended December 31, 2021, 2022, and 2023 (in thousands)

	2021		2022		2023
Lease Cost:
Operating lease cost(1)	$	53,957	$	28,404	$	29,897
Short-term lease cost	1,768		641		360
Sublease income	(2,255)		(1,135)		(906)
Total lease costs	$	53,470	$	27,910	$	29,351

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(1)During the years ended December 31, 2021, 2022 and 2023, operating lease cost includes $18.9 million, $1.2 million, and $5.1 million of right-of-use lease asset impairment charges, respectively, related to redundant leased space that was vacated during the year.

The following table provides a summary of the Company’s average lease term and discount rate as of December 31, 2022 and 2023:

	As of December 31, 2022		As of December 31, 2023
Weighted average remaining lease term (years)	7.2		6.6
Weighted average discount rate	4.05	%	4.27	%

Supplemental information related to the Company’s leases for the years ended December 31, 2021, 2022, and 2023 (in thousands):

	Year ended December 31, 2021		Year ended December 31, 2022		Year ended December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities	$	43,021	$	35,138	$	30,742
Right-of-use assets obtained in exchange for operating lease liabilities	$	79,953	$	4,674	$	17,921

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities (in thousands):

Year Ending December 31,
2024	$	30,151
2025	29,171
2026	26,796
2027	23,963
2028	21,129
Thereafter	44,738
Total lease payments	175,948
Less: interest	(24,023)
Present value of lease liabilities	$	151,925