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Leases (Tables)
3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Summary of Expected Future Payments Related to Lease Liabilities

The following table summarizes the expected future payments related to lease liabilities as of March 31, 2024:

(in thousands)

 

 

 

Remainder of 2024

 

$

7,871

 

2025

 

 

10,240

 

2026

 

 

8,501

 

2027

 

 

6,717

 

2028

 

 

5,973

 

2029 and thereafter

 

 

29,947

 

Total minimum payments

 

$

69,249

 

Less amounts representing interest

 

 

(16,431

)

Less amounts representing tenant improvement allowance

 

 

(399

)

Present value of minimum lease payments

 

 

52,419

 

Less current operating lease liabilities

 

 

(7,518

)

Long-term operating lease liabilities

 

$

44,901

 

Summary of Lease Payments and Supplemental Non-Cash Disclosures

The following table summarizes lease payments and supplemental non-cash disclosures:

 

Three-Month Period

Ended March 31,

(in thousands)

2024

2023

Cash paid for amounts included in lease liabilities:

Operating cash flows from operating leases

$

2,856

$

2,138

Non-cash additions to operating lease assets

$

1,607

$

3,433

Summary of Components of Lease Expense

The following table summarizes the components of lease expense:

 

 

Three-Month Period

 

 

 

Ended March 31,

 

(in thousands)

 

2024

 

 

2023

 

Operating lease cost

$

2,384

 

 

$

2,477

 

Variable lease cost

 

693

 

 

 

192

 

Short-term lease cost

 

279

 

 

 

1,425

 

 Total lease cost

$

3,356

 

 

$

4,094