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Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Additional Leases Information See below for additional information about the Company’s leases.

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

($ in thousands)

 

2023

 

2022

 

2023

 

2022

Supplemental Income Statement Information:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

 $

6,473

 

 

 $

5,466

 

 

 $

18,212

 

 

 $

16,690

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental Cash Flow Information:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net operating cash inflows/(outflows) for operating leases

 

 $

(4,520)

 

 

 $

(3,672)

 

 

 $

(16,934)

 

 

 $

(3,803)

 

Right-of-use assets obtained in exchange for lease obligations (e.g. new leases and amendments commenced during the period)

 

 $

18,441

 

 

 $

822

 

 

 $

35,409

 

 

 $

2,773

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Information:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term - operating leases

 

12.09

years

 

 

12.97

 years

 

 

12.09

 years

 

 

12.97

 years

Weighted-average discount rate - operating leases

 

3.97

%

 

 

3.51

 %

 

 

3.97

%

 

 

3.51

%

Schedule of Future Sublease Income and Maturities of Our Operating Lease Liabilities

As of September 30, 2023, the future sublease income and maturities of our operating lease liabilities are as follows:

Fiscal year ended

 

Sublease Income

 

Operating Leases

Remainder of 2023

 

$

(204)

 

$

5,516

2024

 

 

(816)

 

 

25,248

2025

 

 

(408)

 

 

22,833

2026

 

 

 

 

21,614

2027

 

 

 

 

20,631

Thereafter

 

 

 

 

181,963

Total Payments

 

$

(1,428)

 

$

277,805

 

 

 

 

 

 

 

Less: Tenant improvement allowances

 

 

(1,346)

Less: Present value adjustment

 

 

(59,597)

Total

 

$

216,862