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Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Additional Leases Information See below for additional information about the Company’s leases.

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

($ in thousands)

 

2024

 

2023

 

2024

 

2023

Supplemental Income Statement Information:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

 $

6,189

 

 

 $

6,159

 

 

 $

12,373

 

 

 $

11,739

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental Cash Flow Information:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net operating cash inflows/(outflows) for operating leases

 

 $

(6,256)

 

 

 $

(6,332)

 

 

 $

(12,180)

 

 

 $

(12,414)

 

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

 

 $

1,345

 

 

 $

15,919

 

 

 $

1,563

 

 

 $

16,968

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Information:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term - operating leases (in years)

 

11.60

 

 

 

12.26

 

 

 

11.60

 

 

 

12.26

 

Weighted-average discount rate - operating leases

 

3.99

%

 

 

3.74

 %

 

 

3.99

%

 

 

3.74

%

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

As of June 30, 2024, the future sublease income and maturities of our operating lease liabilities are as follows:

Fiscal year ended

 

Sublease Income

 

Operating Leases

Remainder of 2024

 

$

(423)

 

$

12,167

2025

 

 

(423)

 

 

23,688

2026

 

 

 

 

22,139

2027

 

 

 

 

21,269

2028

 

 

 

 

21,048

Thereafter

 

 

 

 

163,575

Total Payments

 

$

(846)

 

$

263,886

 

 

 

 

 

 

 

Less: Tenant improvement allowances

 

 

(538)

Less: Present value adjustment

 

 

(54,128)

Total

 

$

209,220