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

The Company’s lease cost is recognized on a straight-line basis over the lease term. Lease cost consists of the following:

 

 

 

Three Months Ended

 

 

 

March 31, 2023

 

 

March 31, 2022

 

Operating lease cost

 

$

6,489

 

 

$

9,502

 

Finance lease cost - amortization of right-of-use assets

 

 

494

 

 

 

 

Finance lease cost - interest

 

 

152

 

 

 

 

Short-term lease cost

 

 

149

 

 

 

133

 

Variable lease cost

 

 

55

 

 

 

20

 

Sublease income

 

 

(28

)

 

 

(10

)

 Total lease cost

 

$

7,311

 

 

$

9,645

 

Summary of Future Minimum Lease Payments Under Non-Cancellable Operating and Finance Leases

Future minimum lease payments under non-cancellable operating and finance leases as of March 31, 2023 were as follows:

 

 

 

Operating

 

 

Finance

 

March 31, 2024

 

$

18,582

 

 

$

2,967

 

March 31, 2025

 

 

28,674

 

 

 

2,967

 

March 31, 2026

 

 

26,939

 

 

 

2,967

 

March 31, 2027

 

 

23,322

 

 

 

2,967

 

March 31, 2028

 

 

17,024

 

 

 

2,967

 

Thereafter

 

 

139,443

 

 

 

5,192

 

Total future minimum lease payments

 

 

253,984

 

 

 

20,027

 

Less: Interest

 

 

(48,529

)

 

 

(2,119

)

Total lease liabilities

 

$

205,455

 

 

$

17,908

 

 

Summary of Other Information Related to Operating and Finance Leases

Other information related to operating and finance leases is as follows:

 

 

March 31, 2023

 

 

March 31, 2022

 

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

 

 

 

 

 

 

Operating cash outflows for operating leases

 

$

4,982

 

 

$

10,110

 

Operating cash outflows for finance leases

 

 

152

 

 

 

 

Financing cash outflows for finance leases

 

 

590

 

 

 

 

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

 

$

8,900

 

 

$

2,952

 

Weighted-average remaining lease term

 

 

 

 

 

 

Operating leases

 

 

11.6

 

 

 

11.5

 

Finance leases

 

 

6.8

 

 

 

 

Weighted-average discount rate

 

 

 

 

 

 

Operating leases

 

 

3.5

%

 

 

3.2

%

Finance leases

 

 

3.4

%