Leases (Tables)

12 Months Ended

Dec. 31, 2023

Right-of-use asset and lease liabilities

The following table presents information about the Company’s right-of-use assets and lease liabilities as of December 31, 2023 and 2022 (in thousands):


		December 31,
	Consolidated Balance Sheets Line Item	2023		2022
Right-of-use ("ROU") assets:
Operating lease ROU assets	Operating lease right-of-use assets	$	110,465	$	129,506
Finance lease ROU assets	Finance lease right-of-use assets	31,962		5,423
Finance lease ROU assets	Equipment and other fixed assets, net	—		103
Total ROU assets		$	142,427	$	135,032
Operating lease liabilities:
Current operating lease liabilities	Current portion of operating lease obligations	$	29,270	$	30,001
Noncurrent operating lease liabilities	Operating lease obligations, less current portion	85,529		104,394
Total operating lease liabilities		$	114,799	$	134,395
Finance lease liabilities:
Current finance lease liabilities	Current portion of finance lease obligations	$	9,122	$	2,211
Noncurrent finance lease liabilities	Finance lease obligations, less current portion	22,746		3,950

Total finance lease liabilities		$	31,868	$	6,161

The following table presents information about lease costs and expenses and sublease income for the years ended December 31, 2023 and 2022 (in thousands). The amounts below, with the exception of interest on lease liabilities, are included in cost of net revenue in the accompanying consolidated statements of operations for the periods presented. The interest on lease liabilities is included in interest expense, net in the accompanying consolidated statements of operations for the periods presented.


	Year Ended December 31,
	2023		2022		2021
Operating lease costs	$	38,365	$	37,822	$	37,043
Finance lease costs:
Reduction of ROU assets	$	5,761	$	8,246	$	33,689
Interest on lease liabilities	$	1,058	$	—	$	—
Other lease costs and income:
Variable leases costs (1)	$	20,769	$	17,758	$	14,030
Sublease income	$	1,427	$	1,380	$	1,239

(1)Amounts represent variable costs incurred that were not included in the initial measurement of the lease liability such as common area maintenance and utilities costs associated with leased real estate.

Weighted average remaining lease terms and discount rates

The following table provides the weighted average remaining lease terms and weighted average discount rates for the Company’s leases as of December 31, 2023 and 2022:


	December 31,
	2023		2022
Weighted average remaining lease term, weighted based on lease liability balances:
Operating leases	5.6 years		6.2 years
Finance leases	3.6 years		3.7 years
Weighted average discount rate, weighted based on remaining balance of lease payments:
Operating leases	4.4	%	3.9	%
Finance leases	6.7	%	3.5	%

Undiscounted amount of future cash flows

The following table provides the undiscounted amount of future cash flows related to the Company's operating and finance leases, as well as a reconciliation of such undiscounted cash flows to the amounts included in the Company’s lease liabilities as of December 31, 2023 (in thousands):


	Operating Leases		Finance Leases
2024	$	33,335	$	10,782
2025	28,111		10,129
2026	20,306		9,095
2027	13,560		5,612
2028	10,634		44
Thereafter	24,217		—
Total future undiscounted leases payments	$	130,163	$	35,662
Less: amount representing interest	(15,364)		(3,794)
Present value of future lease payments (lease liability)	$	114,799	$	31,868

Cash flow and supplemental non-cash information

The following table provides certain cash flow and supplemental non-cash information related to the Company's lease liabilities for the years ended December 31, 2023 and 2022 (in thousands):


	Year Ended December 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash payments for operating leases	$	38,328	$	37,486	$	36,510
Financing cash payments for finance leases	$	6,769	$	16,176	$	42,164
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	22,000	$	22,543	$	91,420
Finance leases	$	32,101	$	5,423	$	22,959