Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Schedule of Quantitative Information and Other Information Related to Leases

Quantitative information related to leases is presented in the following table (dollars in thousands):

	For the Quarter Ended June 30, 2023			For the Year to Date Ended June 30, 2023
Lease expenses (1)
Fixed lease expenses - operating	$	1,638		$	3,334
Variable lease expenses - operating		380			961
Sublease income (2)		(189	)		(500	)
Total lease expenses	$	1,829		$	3,795
Other information
Gross operating cash flows for operating leases (3)	$	(2,717	)	$	(5,583	)
Operating cash flows from subleases (3)	$	196		$	488
	For the Quarter Ended June 30, 2022			For the Year to Date Ended June 30, 2022
Lease expenses (1)
Fixed lease expenses - operating	$	2,695		$	5,462
Variable lease expenses - operating		1,079			1,894
Sublease income (2)		(269	)		(545	)
Total lease expenses	$	3,505		$	6,811
Other information
Gross operating cash flows for operating leases (3)	$	(4,263	)	$	(8,818	)
Operating cash flows from subleases (3)	$	279		$	553
	As of June 30, 2023			As of June 30, 2022
Weighted average remaining lease term (in months) – operating leases		60			67
Weighted average discount rate – operating leases		4.8	%		4.8	%

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(1)Lease expense and sublease income represent the amount recorded within our unaudited condensed consolidated statements of income. Variable lease amounts represent expenses recognized as incurred which are not included in the lease liability. Fixed lease expenses and sublease income are recorded on a straight-line basis over the lease term and therefore are not necessarily representative of cash payments during the same period.

(2)Historically, for certain of our leased locations we have vacated the facility and have fully or partially subleased the space. As of June 30, 2023, we no longer have any subleased locations.

(3)Cash flows are presented on a consolidated basis and represent cash payments for fixed and variable lease costs.