Variable Interest Entities

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

Variable Interest Entities

As of December 31, 2022 and 2023, the total assets of the Company’s variable interest entities were $232.1 million and $246.4 million, respectively, and are principally comprised of accounts receivable. As of December 31, 2022 and 2023, the total liabilities of the Company’s variable interest entities were $78.8 million and $84.3 million, respectively, and are principally comprised of accounts payable and accrued expenses. These variable interest entities have obligations payable for services received under their management agreements with the Company of $158.3 million and $161.8 million as of December 31, 2022 and 2023, respectively; these intercompany balances are eliminated in consolidation.