XML 44 R29.htm IDEA: XBRL DOCUMENT v3.22.4
Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Operating Lease Assets and Liabilities
The following table presents the assets and liabilities related to the Company’s leases:
December 31,
2022
Lease assets:
Right-of-use assets$127,014 
Total lease assets127,014 
Lease liabilities:
Current lease liabilities22,546 
Non-current lease liabilities150,832 
Total lease liabilities$173,378 
Lease, Cost
The following table details the Company’s net lease expense:
Year Ended December 31, 2022
Operating lease expense$25,817 
Variable lease expense(1)
3,498 
Net lease expense$29,315 
(1) Variable lease expense primarily consists of contingent rent.
The following tables present other relevant lease information:
December 31,
2022
Weighted average remaining lease term (years)6.0
Weighted average discount rate4.2 %
Rent expense for the Company’s operating leases prior to the adoption of ASC 842 consists of the following:
20212020
Minimum rent
$23,976 $21,340 
Contingent rent
1,542 557 
Total rent expense
$25,518 $21,897 
Lessee, Operating Lease, Liability, Maturity
The following table presents the future maturity of lease liabilities:
Operating Leases(1)
2023$29,602 
202438,820 
202531,238 
202629,504 
202726,115 
Thereafter45,948 
Total undiscounted lease cash flows201,227 
Impact of discounting27,849 
Present value of lease payments$173,378 
(1) The year 2023 includes $8.3 million of expected cash inflows from TIAs. Operating lease payments exclude $4.2 million of legally binding minimum lease payments related to executed leases for which the Company has not yet taken possession of the leased premises.