Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

2. Leases

Amounts reported on the Company’s Consolidated Balance Sheets for operating leases were as follows:

	December 31,
	2023		2022
	(Amounts in Thousands)
Operating lease assets, net	$	45,433	$	38,980
Short-term operating lease liabilities (in accrued expenses)		11,339		10,801
Long-term operating lease liabilities		39,711		35,479
Total operating lease liabilities	$	51,050	$	46,280

Lease Costs

Components of lease costs were reported in general and administrative expenses in the Company’s Consolidated Statements of Income as follows:

	For the Years Ended December 31,
	(Amounts in Thousands)
	2023			2022			2021
Operating lease costs	$	13,026		$	11,354		$	11,150
Short-term lease costs		1,147			2,885			739
Total lease costs		14,173			14,239			11,889
Less: sublease income		(2,770	)		(951	)		(679	)
Total lease costs, net	$	11,403		$	13,288		$	11,210

Lease Term and Discount Rate

Weighted average remaining lease terms and discount rates were as follows:

	December 31,
	2023			2022			2021
Operating leases:
Weighted average remaining lease term		6.26			5.82			6.39
Weighted average discount rate		5.47	%		3.98	%		3.91	%

Maturity of Lease Liabilities

Remaining operating lease payments as of December 31, 2023 were as follows:

	Operating Leases
	(Amounts in Thousands)
Due in 12-month period ended December 31,
2024	$	13,809
2025		10,580
2026		8,284
2027		6,101
2028		5,274
Thereafter		17,154
Total future minimum rental commitments		61,202
Less: Imputed interest		(10,152	)
Total lease liabilities	$	51,050

Supplemental Cash Flow Information

	For the Years Ended December 31,
	(Amounts in Thousands)
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	14,396	$	13,015	$	11,288
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	17,221	$	14,746	$	7,705

The Company sublet a portion of its corporate headquarters space in Frisco, Texas in November 2022 to a third party under a two-year sublease term for a monthly base rent of $0.1 million.