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Leases
9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Leases Leases We have operating leases for office space, data centers and certain equipment. We also have finance leases for office space. Our leases have lease terms of 1 year to 35 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to terminate the leases within 1 year. Operating lease costs recognized in our Condensed Consolidated Statements of Operations for the three months ended September 30, 2023 and 2022 totaled $6.4 million and $6.6 million, respectively, including short-term lease costs of $1.2 million and $0.4 million, respectively. Year-to-date September 30, 2023 and 2022 operating lease costs totaled $19.7 million and $19.8 million, respectively, including short-term lease costs of $2.5 million and $1.1 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.2 million for the three months ended September 30, 2023 and $0.6 million for the nine months ended September 30, 2023. Interest expense on the finance leases liability totaled $0.5 million for the three months ended September 30, 2023 and $1.6 million for the nine months ended September 30, 2023.
Other information related to our leases was as follows:
(in thousands, except lease term and discount rate)As of 
September 30, 
2023
As of 
December 31, 
2022
Balance Sheet Information
Operating Leases
Right-of-use assets$103,428 $117,869 
Other current liabilities20,369 19,599 
Operating lease liabilities 91,458 106,866 
Financing Leases
Property and equipment, at cost28,321 28,321 
Accumulated depreciation663 69 
Property and equipment, net27,658 28,252 
Other current liabilities — 426 
Other liabilities29,828 28,063 
Weighted Average Remaining Lease Term
Operating leases 7.56 years8.22 years
Finance leases34.38 years35.50 years
Weighted Average Discount Rate
Operating leases 4.36 %4.34 %
Finance leases7.07 %7.10 %


Three Months Ended 
September 30,
Nine Months Ended 
September 30,
(in thousands)2023202220232022
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$6,740 $6,246 $19,448 $18,502 
Operating cash flows from finance leases213 — 213 — 
Financing cash flows from finance leases— — — — 
Right-of-use assets obtained in exchange for operating lease obligations1,736 2,133 4,175 3,596 
Right-of-use assets obtained in exchange for finance lease obligations— — — — 
Future minimum lease payments under non-cancellable leases as of September 30, 2023 were as follows:
(in thousands)Operating
Leases
Finance
Leases
Remainder of 2023$7,538 $213 
202425,093 1,302 
202520,437 1,776 
202618,336 1,824 
202715,742 1,875 
Thereafter46,031 92,050 
  Total future minimum lease payments133,177 99,040 
Less: Imputed interest(21,350)(69,212)
    Total$111,827 $29,828 
Leases Leases We have operating leases for office space, data centers and certain equipment. We also have finance leases for office space. Our leases have lease terms of 1 year to 35 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to terminate the leases within 1 year. Operating lease costs recognized in our Condensed Consolidated Statements of Operations for the three months ended September 30, 2023 and 2022 totaled $6.4 million and $6.6 million, respectively, including short-term lease costs of $1.2 million and $0.4 million, respectively. Year-to-date September 30, 2023 and 2022 operating lease costs totaled $19.7 million and $19.8 million, respectively, including short-term lease costs of $2.5 million and $1.1 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.2 million for the three months ended September 30, 2023 and $0.6 million for the nine months ended September 30, 2023. Interest expense on the finance leases liability totaled $0.5 million for the three months ended September 30, 2023 and $1.6 million for the nine months ended September 30, 2023.
Other information related to our leases was as follows:
(in thousands, except lease term and discount rate)As of 
September 30, 
2023
As of 
December 31, 
2022
Balance Sheet Information
Operating Leases
Right-of-use assets$103,428 $117,869 
Other current liabilities20,369 19,599 
Operating lease liabilities 91,458 106,866 
Financing Leases
Property and equipment, at cost28,321 28,321 
Accumulated depreciation663 69 
Property and equipment, net27,658 28,252 
Other current liabilities — 426 
Other liabilities29,828 28,063 
Weighted Average Remaining Lease Term
Operating leases 7.56 years8.22 years
Finance leases34.38 years35.50 years
Weighted Average Discount Rate
Operating leases 4.36 %4.34 %
Finance leases7.07 %7.10 %


Three Months Ended 
September 30,
Nine Months Ended 
September 30,
(in thousands)2023202220232022
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$6,740 $6,246 $19,448 $18,502 
Operating cash flows from finance leases213 — 213 — 
Financing cash flows from finance leases— — — — 
Right-of-use assets obtained in exchange for operating lease obligations1,736 2,133 4,175 3,596 
Right-of-use assets obtained in exchange for finance lease obligations— — — — 
Future minimum lease payments under non-cancellable leases as of September 30, 2023 were as follows:
(in thousands)Operating
Leases
Finance
Leases
Remainder of 2023$7,538 $213 
202425,093 1,302 
202520,437 1,776 
202618,336 1,824 
202715,742 1,875 
Thereafter46,031 92,050 
  Total future minimum lease payments133,177 99,040 
Less: Imputed interest(21,350)(69,212)
    Total$111,827 $29,828