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Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of Components of Lease Expense and Other lease Information

The components of lease expense and other lease information as of and during the years ended December 31, 2023, 2022 and 2021 were as follows:

(in thousands)

 

2023

 

2022

 

2021

Operating lease cost

$

4,935

$

4,957

$

5,131

Variable lease cost

1,469

1,423

1,433

Sublease income

(469)

(555)

(508)

Total lease cost

$

5,935

$

5,825

$

6,056

Cash paid for amounts included in measurement of lease liabilities

Operating cash flows from operating leases

$

5,407

$

5,435

$

5,738

ROU assets obtained in exchange for new operating lease liabilities

$

5,805

$

2,694

$

4,828

Reduction to ROU assets resulting from reduction to lease liabilities

$

300

$

2

$

1,042

Other non-cash reductions to ROU assets

$

$

73

$

48

(in thousands)

 

2023

 

2022

Operating lease ROU assets

$

13,666

$

12,766

Operating lease liabilities

$

14,880

$

14,499

Weighted-average remaining lease term - operating leases

6.08

years

4.21

years

Weighted-average discount rate - operating leases

3.21

%

2.11

%

Schedule of Future Minimum Lease Payments under Non-cancellable Leases

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

(in thousands)

 

2023

2024

$

4,090

2025

3,202

2026

2,313

2027

1,544

2028

1,266

Thereafter

4,503

Total future minimum lease payments

$

16,918

Less imputed interest

(2,038)

Total operating lease liability

$

14,880