LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Expense

Expense

(in thousands)	2023		2022		2021
Fixed lease costs (1)	$	19,718	$	20,186	$	(1,694)
Short-term lease costs	2,884		3,356		2,244
Variable lease costs	8,148		3,894		4,480
	$	30,750	$	27,436	$	5,030

(1) The lower fixed lease costs in 2021 was due to the modification of the corporate headquarters lease.

Schedule of Right of Use Asset and Lease Liabilities

Right of use assets and lease liabilities

(in thousands)	December 31, 2023		December 31, 2022
Right of use assets (1)	$	64,198	$	76,114
Operating lease liabilities (2)	$	15,000	$	14,976
Long-term operating lease liabilities	$	66,901	$	79,152

(1) Represents the Company’s right to use the leased asset during the lease term. Included in other long-term assets.

(2) Included in other current liabilities.

Schedule of Weighted Average and Discount Rate

The weighted-average remaining lease term and discount rate for the Company’s leases were:

	December 31, 2023		December 31, 2022
Weighted-average remaining lease term	6.8 years		7.5 years
Weighted-average discount rate (1)	4.0	%	4.1	%

(1) The rates implicit in most of the Company’s leases are not readily determinable. Therefore, the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur to borrow an amount equal to the lease payments on a collateralized basis over the lease term in a similar economic environment.

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities:

(in thousands)	December 31, 2023
2024	$	17,971
2025	15,602
2026	11,164
2027	10,114
2028	9,372
Thereafter	30,177
Total lease payments	94,400
Less: imputed interest (1)	(12,499)
	$	81,901

(1) Lease liabilities are measured at the present value of the remaining lease payments using a discount rate determined at lease commencement unless the discount rate is updated due to a lease reassessment event.

Schedule of Cash Flow Lease Information

Cash flow information (1)

(in thousands)	2023		2022
Cash paid for operating leases, net of tenant improvement allowances	$	20,045	$	7,690
Right of use assets recognized for new leases and amendments (non-cash)	$	1,460	$	4,733

(1) In 2022, the Company received a tenant improvement allowances of $8.8 million as part of the lease of the Company’s new corporate headquarters in Waltham, Massachusetts.