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Leases (Tables)
3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Summary of Components of Lease Expense

The components of lease expense were as follows (in thousands):

 

 

 

For the Three Months Ended March 31,

 

 

 

2023

 

 

2022

 

Operating lease cost

 

$

3,314

 

 

$

3,652

 

Short-term lease cost

 

 

261

 

 

 

137

 

Variable lease cost

 

 

785

 

 

 

1,550

 

Sublease income

 

 

(131

)

 

 

(192

)

Total lease cost

 

$

4,229

 

 

$

5,147

 

Summary of Additional Lease Information

Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):

 

 

 

For the Three Months Ended March 31,

 

 

 

2023

 

 

2022

 

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

 

$

3,374

 

 

$

2,861

 

Operating lease ROU assets obtained in exchange for lease
   obligations

 

$

1,323

 

 

$

 

Weighted-average remaining lease term - operating leases (years)

 

 

4.9

 

 

 

5.7

 

Weighted-average discount rate - operating leases

 

 

4.3

%

 

 

4.3

%

Summary of Future Minimum Lease Payments and Sublease Cash Receipts Under Non-Cancelable Leases

Future minimum lease payments under non-cancelable leases and estimated future sublease cash receipts from non-cancelable arrangements as of March 31, 2023 are as follows (in thousands):

 

 

 

Operating Lease

 

 

Sublease

 

 

 

Payments

 

 

Cash Receipts

 

2023 (remainder)

 

$

12,532

 

 

$

457

 

2024

 

 

16,563

 

 

 

625

 

2025

 

 

14,485

 

 

 

 

2026

 

 

12,474

 

 

 

 

2027

 

 

5,680

 

 

 

 

Thereafter

 

 

8,817

 

 

 

 

Total lease payments and estimated sublease cash receipts

 

 

70,551

 

 

$

1,082

 

Less imputed interest

 

 

(8,045

)

 

 

 

Present value of lease liabilities

 

$

62,506

 

 

 

 

Summary of Lease Balances

Lease balances as of March 31, 2023 are as follows (in thousands):

 

Operating lease ROU assets

 

$

48,565

 

 

 

 

 

Short-term operating lease liabilities (1)

 

$

13,985

 

Non-current operating lease liabilities

 

 

48,521

 

Total operating lease liabilities

 

$

62,506

 

 

(1)
Included in accrued expenses and other current liabilities on the Consolidated Balance Sheets.