Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lease Costs

The table below presents the Company’s net lease cost and certain other information related to the Company’s leasing activities as of and for the years ended December 31, 2023, 2022 and 2021 (dollars in thousands).

	Year Ended December 31,
Description	2023			2022			2021
Operating lease cost (1)	$	112,948		$	117,750		$	130,383
Variable lease cost (2)	22,254			15,209			17,940
Sublease income	(53,377)			(46,698)			(42,801)
Total lease cost, net (3) (4)	$	81,825		$	86,261		$	105,522
Cash paid for amounts included in the measurement of operating lease   liabilities	$	145,226		$	137,399		$	140,571
Cash receipts from sublease arrangements	$	51,968		$	46,159		$	42,374
Right-of-use assets obtained in exchange for new operating lease liabilities	$	12,715		$	20,597		$	33,113
As of December 31,	2023			2022			2021
Weighted average remaining lease term for operating leases (in years)	7.3			7.9			8.7
Weighted average discount rate for operating leases	6.6		%	6.6		%	6.5		%

(1)Included in operating lease cost was $43.1 million, $41.9 million and $42.3 million of costs for subleasing activities during 2023, 2022, and 2021 respectively.

(2)These amounts are primarily variable lease and nonlease costs that were not fixed at the lease commencement date or are dependent on something other than an index or a rate.

(3)The Company did not capitalize any initial direct costs for operating leases during 2023, 2022, or 2021.

(4)Amount excludes impairment charges of $20.4 million, $54.0 million, and $49.5 million for the years ended December 31, 2023, 2022, and 2021 respectively, as discussed below.

Operating Lease Maturity Schedule

As of December 31, 2023, the (i) maturities of operating lease liabilities under non-cancelable arrangements and (ii) estimated future sublease cash receipts from non-cancelable arrangements were as follows (in thousands):

	Operating		Sublease
	Lease		Cash
Period ending December 31,	Payments		Receipts
2024	$	135,707	$	47,311
2025	117,552		44,442
2026	113,494		44,243
2027	109,493		45,120
2028	65,257		8,139
Thereafter	237,439		18,392
Total future minimum operating lease payments and estimated sublease cash receipts (1)	778,942		$	207,647
Imputed interest	(167,043)
Total operating lease liabilities per the Consolidated Balance Sheet	$	611,899

(1)Approximately 79% of the operating lease payments pertain to properties in the United States.

Supplemental Balance Sheet Information

The table below indicates where the discounted operating lease payments from the above table are classified in the Consolidated Balance Sheet (in thousands).

	December 31,
Description	2023		2022
Accounts payable and accrued liabilities	$	98,493	$	99,717
Operating lease liabilities	513,406		597,267
Total operating lease liabilities per the Consolidated Balance Sheet	$	611,899	$	696,984