Leases

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Leases

LEASES

The Company has operating leases for corporate offices under non-cancelable operating leases with various expiration dates. There are no finance leases. The leases have remaining terms of less than 1 to 13 years. Options to extend for up to 10 years have not been included because they are not reasonably certain to be exercised.

The components of lease expense were as follows:

	Three Months Ended March 31,
in thousands	2023		2022
Operating lease cost	$	6,626	$	7,501
Variable and short-term lease cost	3,378		2,449

Other information related to leases was as follows:

	As of March 31,		As of December 31,
	2023		2022
Weighted average remaining lease term	10.4 years		10.7 years
Weighted average discount rate	2.08	%	2.08	%

As of March 31, 2023, the maturities of lease liabilities under non-cancelable operating leases, net of lease incentives, were as follows:

	As of March 31,
in thousands	2023
Remainder of 2023	$	7,639
2024	29,880
2025	32,052
2026	32,656
2027	29,939
Thereafter	178,324
Total minimum lease payments	$	310,490
Less: imputed interest	(33,071)
Total	$	277,419