Leases (Tables)

9 Months Ended

Sep. 30, 2024

The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating and finance leases for the three months and nine months ended September 30, 2024 and 2023 (in thousands):


	For the three months ended September 30,				For the nine months ended September 30,
	2024		2023		2024		2023
			(As Restated)				(As Restated)
Finance leases
Interest expense	$	2,364	$	4,311	$	9,421	$	12,327
Amortization expense	14,193		6,459		43,896		16,903
Total fixed finance lease cost	$	16,557	$	10,770	$	53,317	$	29,230
Operating leases
Fixed lease cost	$	9,486	$	11,470	$	28,459	$	34,411
Total fixed operating lease cost	$	9,486	$	11,470	$	28,459	$	34,411
Variable lease cost	9,129		4,186		22,128		16,140
Short-term lease cost	98		43		265		140
Total lease cost	$	35,270	$	26,469	$	104,169	$	79,921

Operating sublease income	$	10,219	$	9,742	$	30,825	$	30,223

Cash paid in the measurement of lease liabilities
Operating cash flows used for operating leases					$	15,323	$	18,686
Operating cash flows used for finance leases					$	1,411	$	9,125
Financing cash flows for finance leases					$	69,576	$	40,299

Supplemental balance sheet information related to leases was as follows:


	As of		As of
	September 30, 2024		September 30, 2023
Weighted average remaining lease term - finance leases	1.92 years		1.72 years
Weighted average discount rate - finance leases	12.56	%	14.49	%
Weighted average remaining lease term - operating leases	6.32 years		7.21 years
Weighted average discount rate - operating leases	6.97	%	7.02	%

Schedule of Future Minimum Commitments Under Operating Leases

As of September 30, 2024, future minimum commitments under ASC 842 under the Company’s leases were as follows (in thousands):


	Operating Leases		Financing Leases
Remaining Lease Payments
Remainder of 2024	$	9,151	$	57,718
2025	37,084		43,068
2026	35,719		2,738
2027	36,742		1,673
2028	37,795		685
2029 and thereafter	81,986		—
Total	$	238,477	$	105,882
Less: Imputed Interest	(45,910)		(4,036)
Present Value of Lease Liabilities	$	192,567	$	101,846

Schedule of Future Minimum Commitments Under Financing Leases

As of September 30, 2024, future minimum commitments under ASC 842 under the Company’s leases were as follows (in thousands):


	Operating Leases		Financing Leases
Remaining Lease Payments
Remainder of 2024	$	9,151	$	57,718
2025	37,084		43,068
2026	35,719		2,738
2027	36,742		1,673
2028	37,795		685
2029 and thereafter	81,986		—
Total	$	238,477	$	105,882
Less: Imputed Interest	(45,910)		(4,036)
Present Value of Lease Liabilities	$	192,567	$	101,846