Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Summary of Lease Costs and Other Information Pertaining to Operating Leases

The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating leases for the years ended December 31, 2022, 2021 and 2020 (in thousands):

	For the year ended December 31,
	2022			2021			2020
Lease cost (1)
Operating lease cost	$	33,738		$	24,838		$	22,454
Total lease cost	$	33,738		$	24,838		$	22,454
Other information
Operating cash flows used for operating leases	$	27,140		$	25,489		$	19,632
Weighted average remaining lease term	10.8 years			11.8 years			6.4 years
Weighted average discount rate	5.47		%	5.47		%	6.72		%

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(1)Short-term lease costs and variable lease costs incurred by the Company for the twelve months ended December 31, 2022, 2021 and 2020 were immaterial.

Summary of Future Minimum Commitments

As of December 31, 2022, future minimum commitments under ASC 842 under the Company’s operating leases were as follows (in thousands):

Maturity of lease liabilities	As of December 31, 2022
2023	$	27,861
2024	28,672
2025	29,498
2026	32,920
2027 and thereafter	250,383
Total lease payments	369,334
Less: imputed interest	(99,162)
Total operating lease liabilities	$	270,172