Leases

12 Months Ended

Dec. 31, 2023

LEASES

The components of lease cost were as follows for the years ended December 31:


(In thousands)	2023		2022		2021
Operating lease cost	$	61,247	$	55,414	$	43,794
Short-term lease cost	4,969		7,737		4,689
Variable lease cost	4,312		3,046		3,269
Total lease cost	$	70,528	$	66,197	$	51,752

At December 31, 2023, the Company's operating leases had a weighted-average remaining lease term of 9.2 years and a weighted-average discount rate of 6.3 percent.

Cash Flows

Right-of-use assets of $44.5 million, $132.7 million, and $96.7 million were recognized as non-cash asset additions that resulted from new operating lease obligations during the years ended December 31, 2023, 2022, and 2021, respectively, which included $0.4 million, $42.2 million, and $12.5 million of right-of-use assets from acquisitions, respectively. Cash paid for amounts included in the present value of operating lease obligations and included in cash flows from operations was $55.5 million, $47.9 million, and $35.7 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Future minimum lease payments under operating leases as of December 31, 2023 were as follows:


(In thousands)
Year Ending December 31,
2024	$	50,589
2025	45,933
2026	36,507
2027	31,822
2028	29,985
Thereafter	150,882
Total future minimum lease payments	345,718
Less interest	(86,769)
Present value of operating lease liabilities	$	258,949