Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Components of Lease Expense

The components of lease expense were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2024		2023		2024		2023
Finance lease costs:
Amortization of right-of-use assets (included in depreciation expense)	$	—	$	24	$	—	$	48
Interest on lease liabilities		3		5		7		11
Operating lease costs		5,555		4,335		11,065		8,906
Short-term lease costs		202		150		428		290
Variable lease costs		490		436		963		892
Total lease costs	$	6,250	$	4,950	$	12,463	$	10,147

Summary of Operating And Finance Lease Supplemental Cash Flow Information

A summary of cash flow information related to leases follows:

	Six Months Ended June 30,
(in thousands)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	10,650	$	8,820
Operating cash flows used for finance leases		7		11
Financing cash flows used for finance leases		90		86
Right-of-use assets obtained in exchange for new operating lease liabilities		3,044		6,401

Summary of Operating And Finance Lease Supplemental Balance Sheet Information

A summary of other information about the Company's leases follows:

	June 30,			December 31,
(dollars in thousands)	2024			2023
Operating lease right-of-use assets	$	125,082		$	130,830
Finance lease liabilities, current (included in current installments of long-term debt)	$	186		$	181
Finance lease liabilities, noncurrent (included in long-term debt)	$	80		$	174
Operating lease liabilities, current (included in accrued liabilities)	$	16,838		$	15,486
Operating lease liabilities, noncurrent	$	116,637		$	123,385
Weighted average remaining lease term – finance leases	1.4 years			1.9 years
Weighted average remaining lease term – operating leases	9.2 years			9.7 years
Weighted average discount rate – finance leases		4.8	%		4.8	%
Weighted average discount rate – operating leases		4.6	%		4.5	%

Future Annual Minimum Operating Lease Payments and Finance Lease Commitments

A summary of the Company's future annual minimum lease payments as of June 30, 2024 follows (in thousands):

Year ending December 31,	Operating Leases			Finance Leases
Remaining six months of 2024	$	11,282		$	97
2025		21,516			178
2026		17,308			—
2027		15,825			—
2028		14,912			—
2029 and thereafter		84,052			—
Total minimum lease payments		164,895			275
Less: imputed interest		(31,420	)		(9	)
Total present value of lease liabilities	$	133,475		$	266