Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Summary of Lease Cost

As of the dates indicated, the Company had the following related to operating leases:

	As of September 30, 2023		As of December 31, 2022
	(In thousands)
Right-of-use assets	$	52,727	$	48,817
Lease liabilities	55,852		52,105

The following table is a summary of the Company’s components of net lease cost for the periods indicated:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(In thousands)
Operating lease cost	$	2,974	$	3,182	$	8,929	$	9,670
Finance lease cost	87		77		246		231
Variable lease cost	655		577		1,993		1,914
Total lease cost	$	3,716	$	3,836	$	11,168	$	11,815

Summary of Other Information Related to Leases

Supplemental balance sheet information related to operating leases are as follows:

	As of September 30, 2023		As of December 31, 2022
Weighted-average remaining lease term (in years)	8.51		7.26
Weighted-average discount rate	3.73	%	2.62	%

Summary of Future Minimum Lease Payments

The following table sets forth the undiscounted cash flows of base rent related to operating leases outstanding as of September 30, 2023 with payments scheduled over the next five years and thereafter, including a reconciliation to the operating lease liability recognized in other liabilities in the Company’s Consolidated Balance Sheets:

	As of September 30, 2023
Year	(In thousands)
Remainder of 2023	$	3,167
2024	10,183
2025	7,772
2026	6,682
2027	5,543
Thereafter	33,587
Total minimum lease payments	66,934
Less: amount representing interest	11,082
Present value of future minimum lease payments	$	55,852