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Leases (Tables)
6 Months Ended
Jun. 30, 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

 

 

Six Months Ended

 

 

 

June 30, 2023

 

 

June 30, 2022

 

 

June 30, 2023

 

 

June 30, 2022

 

Operating lease cost

 

$

6,393

 

 

$

9,436

 

 

$

12,882

 

 

$

18,938

 

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

 

 

494

 

 

 

 

 

 

988

 

 

 

 

Finance lease cost - interest

 

 

149

 

 

 

 

 

 

300

 

 

 

 

Short-term lease cost

 

 

183

 

 

 

144

 

 

 

333

 

 

 

277

 

Variable lease cost

 

 

69

 

 

 

27

 

 

 

124

 

 

 

47

 

Sublease income

 

 

 

 

 

(28

)

 

 

(28

)

 

 

(38

)

 Total lease cost

 

$

7,288

 

 

$

9,579

 

 

$

14,599

 

 

$

19,224

 

 

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 June 30, 2023 were as follows:

 

 

 

Operating

 

 

Finance

 

June 30, 2024

 

$

20,872

 

 

$

2,967

 

June 30, 2025

 

 

29,232

 

 

 

2,967

 

June 30, 2026

 

 

26,696

 

 

 

2,967

 

June 30, 2027

 

 

21,826

 

 

 

2,967

 

June 30, 2028

 

 

16,886

 

 

 

2,967

 

Thereafter

 

 

134,824

 

 

 

4,449

 

Total future minimum lease payments

 

 

250,336

 

 

 

19,284

 

Less: Interest

 

 

(46,868

)

 

 

(1,970

)

Total lease liabilities

 

$

203,468

 

 

$

17,314

 

Summary of Other Information Related to Operating and Finance Leases

Other information related to operating and finance leases for six months ended June 30, 2023 and 2022 is as follows:

 

 

2023

 

 

2022

 

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

 

 

 

 

 

 

Operating cash outflows for operating leases

 

$

9,995

 

 

$

19,983

 

Operating cash outflows for finance leases

 

 

300

 

 

 

 

Financing cash outflows for finance leases

 

 

1,183

 

 

 

 

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

 

$

9,722

 

 

$

4,885

 

Weighted-average remaining lease term

 

 

 

 

 

 

Operating leases

 

 

11.5

 

 

 

11.7

 

Finance leases

 

 

6.5

 

 

 

 

Weighted-average discount rate

 

 

 

 

 

 

Operating leases

 

 

3.5

%

 

 

3.2

%

Finance leases

 

 

3.4

%