Leases

6 Months Ended

Jun. 30, 2024

The Company leases office space under operating leases expiring at various dates through 2038. For the three and six months ended June 30, 2024, the Company incurred operating lease costs of $1.6 million and $2.9 million, respectively. For the three and six months ended June 30, 2023, the Company incurred operating lease costs of $0.3 million and $0.8 million, respectively. For operating leases, the weighted-average remaining term is 9.5 years and 7.3 years with a weighted-average discount rate of 10% and 5% for the periods ended June 30, 2024 and December 31, 2023, respectively.

Maturities of lease liabilities as of June 30, 2024 were as follows (in thousands):


2024 (remaining)	$	3,175
2025	6,050
2026	5,781
2027	5,476
2028	5,229
Thereafter	22,104
Total lease payments	47,815
Less imputed interest	(16,471)
Total	$	31,344

The following amounts relate to operating leases that were recorded on the Company's Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 (in thousands):


	June 30, 2024		December 31, 2023
Operating lease right of use assets:
Other assets	$	31,570	$	16,858
Operating lease liabilities:
Accrued other liabilities	3,235		1,647
Other long-term liabilities	28,109		15,034

The Company recorded right of use assets in exchange for new lease liabilities of $0.2 million and $14.2 million during the three and six months ended June 30, 2024, respectively. The Company recorded right of use assets in exchange for new lease liabilities of $5.8 million and $5.8 million during the three and six months ended June 30, 2023, respectively.