Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lessee, Operating 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 Consolidated Statements of Operations totaled $24.5 million, $25.9 million and $24.3 million in 2023, 2022 and 2021, respectively, including short-term lease costs of $3.5 million, $1.7 million and $1.8 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.8 million and $0.1 million for the years ended December 31, 2023 and 2022, respectively. Interest expense on the finance leases liability totaled $2.1 million and $0.2 million for the years ended December 31, 2023 and 2022, respectively.

Other information related to our leases was as follows:

	As of December 31,
(in thousands, except lease term and discount rate)	2023			2022
Balance Sheet Information
Operating Leases
Right-of-use assets	$	99,194		$	117,869
Other current liabilities	19,466			19,599
Operating lease liabilities	87,714			106,866
Finance Leases
Property and equipment, at cost	28,321			28,321
Accumulated depreciation	862			69
Property and equipment, net	27,459			28,252
Other current liabilities	—			426
Other liabilities	30,146			28,063
Weighted Average Remaining Lease Term
Operating leases	7.41 years			8.22 years
Finance leases	34.50 years			35.50 years
Weighted Average Discount Rate
Operating leases	4.43		%	4.34		%
Finance leases	7.10		%	7.10		%

	For the years ended December 31,
(in thousands)	2023		2022		2021
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	24,114	$	24,073	$	22,477
Operating cash flows from finance leases	426		—		—
Financing cash flows from finance leases	—		—		—
Right-of-use assets obtained in exchange for operating lease obligations	6,789		6,217		17,835
Right-of-use assets obtained in exchange for finance lease obligations	—		28,321		—

Future minimum lease payments under non-cancellable leases as of December 31, 2023 were as follows:

(in thousands)	Operating Leases		Finance Leases
2024	$	25,622	$	1,302
2025	21,033		1,776
2026	18,869		1,824
2027	15,932		1,875
2028	12,536		1,926
Thereafter	33,503		90,124
Total future minimum lease payments	127,495		98,827
Less: Imputed interest	(20,315)		(68,681)
Total	$	107,180	$	30,146

Lessee, Finance 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 Consolidated Statements of Operations totaled $24.5 million, $25.9 million and $24.3 million in 2023, 2022 and 2021, respectively, including short-term lease costs of $3.5 million, $1.7 million and $1.8 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.8 million and $0.1 million for the years ended December 31, 2023 and 2022, respectively. Interest expense on the finance leases liability totaled $2.1 million and $0.2 million for the years ended December 31, 2023 and 2022, respectively.

Other information related to our leases was as follows:

	As of December 31,
(in thousands, except lease term and discount rate)	2023			2022
Balance Sheet Information
Operating Leases
Right-of-use assets	$	99,194		$	117,869
Other current liabilities	19,466			19,599
Operating lease liabilities	87,714			106,866
Finance Leases
Property and equipment, at cost	28,321			28,321
Accumulated depreciation	862			69
Property and equipment, net	27,459			28,252
Other current liabilities	—			426
Other liabilities	30,146			28,063
Weighted Average Remaining Lease Term
Operating leases	7.41 years			8.22 years
Finance leases	34.50 years			35.50 years
Weighted Average Discount Rate
Operating leases	4.43		%	4.34		%
Finance leases	7.10		%	7.10		%

	For the years ended December 31,
(in thousands)	2023		2022		2021
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	24,114	$	24,073	$	22,477
Operating cash flows from finance leases	426		—		—
Financing cash flows from finance leases	—		—		—
Right-of-use assets obtained in exchange for operating lease obligations	6,789		6,217		17,835
Right-of-use assets obtained in exchange for finance lease obligations	—		28,321		—

Future minimum lease payments under non-cancellable leases as of December 31, 2023 were as follows:

(in thousands)	Operating Leases		Finance Leases
2024	$	25,622	$	1,302
2025	21,033		1,776
2026	18,869		1,824
2027	15,932		1,875
2028	12,536		1,926
Thereafter	33,503		90,124
Total future minimum lease payments	127,495		98,827
Less: Imputed interest	(20,315)		(68,681)
Total	$	107,180	$	30,146