Leases (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Components of Lease Expense

The components of lease expense were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Finance lease costs:
Amortization of right-of-use assets (included in depreciation expense)	$	—	$	—	$	—	$	48
Interest on lease liabilities		3		5		10		16
Operating lease costs		5,583		4,891		16,648		13,797
Short-term lease costs		138		183		566		473
Variable lease costs		979		442		1,453		1,334
Total lease costs	$	6,703	$	5,521	$	18,677	$	15,668

Summary of Operating And Finance Lease Supplemental Cash Flow Information

A summary of cash flow information related to leases follows:

	Nine Months Ended September 30,
(in thousands)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	16,296	$	13,196
Operating cash flows used for finance leases		10		16
Financing cash flows used for finance leases		135		129
Right-of-use assets obtained in exchange for new operating lease liabilities		4,145		39,849

Summary of Operating And Finance Lease Supplemental Balance Sheet Information

A summary of other information about the Company's leases follows:

	September 30,			December 31,
(dollars in thousands)	2024			2023
Operating lease right-of-use assets	$	122,117		$	130,830
Finance lease liabilities, current (included in current installments of long-term debt)	$	188		$	181
Finance lease liabilities, noncurrent (included in long-term debt)	$	32		$	174
Operating lease liabilities, current (included in accrued liabilities)	$	17,169		$	15,486
Operating lease liabilities, noncurrent	$	114,181		$	123,385
Weighted average remaining lease term – finance leases	1.2 years			1.9 years
Weighted average remaining lease term – operating leases	9.0 years			9.7 years
Weighted average discount rate – finance leases		4.8	%		4.8	%
Weighted average discount rate – operating leases		4.6	%		4.5	%

Future Annual Minimum Operating Lease Payments and Finance Lease Commitments

A summary of the Company's future annual minimum lease payments as of September 30, 2024 follows (in thousands):

Year ending December 31,	Operating Leases			Finance Leases
Remaining three months of 2024	$	5,741		$	48
2025		22,071			178
2026		17,756			—
2027		16,098			—
2028		15,175			—
2029 and thereafter		84,668			—
Total minimum lease payments		161,509			226
Less: imputed interest		(30,159	)		(6	)
Total present value of lease liabilities	$	131,350		$	220