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LEASES (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Summary of Lease Costs Recognized Under Topic 842 and Other Information Pertaining to Operating Leases The following table contains a summary of the lease costs recognized and other information pertaining to the Company’s operating leases for the periods indicated:

 

 

 

For the Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Lease cost

 

 

 

 

 

 

Operating lease cost

 

$

29,895

 

 

$

18,184

 

Variable lease cost

 

 

38,442

 

 

 

35,505

 

Total lease cost

 

$

68,337

 

 

$

53,689

 

 

 

 

 

 

 

 

Other information

 

 

 

 

 

 

Operating lease payments

 

$

21,608

 

 

$

20,778

 

Operating lease liabilities arising from obtaining ROU assets

 

$

80,203

 

 

$

40,006

 

Weighted-average remaining lease term

 

11.2 years

 

 

6.4 years

 

Weighted-average discount rate

 

 

9.1

%

 

 

8.3

%

 

 

Summary of Maturities of Lease Liabilities and Reconciliation of Lease Liabilities Recognized Under Topic 842

The following table summarizes maturities of lease liabilities and the reconciliation of lease liabilities as of December 31, 2023:

 

 

 

For the Year Ended
December 31, 2023

 

 

 

(in thousands)

 

2024

 

$

33,718

 

2025

 

 

34,477

 

2026

 

 

28,006

 

2027

 

 

27,995

 

2028

 

 

28,611

 

Thereafter

 

 

245,835

 

Total minimum lease payments

 

 

398,642

 

Less: imputed interest

 

 

(239,832

)

Total operating lease liabilities

 

$

158,810

 

Included in the consolidated balance sheet:

 

 

 

Current portion of lease liabilities within other current liabilities

 

$

17,845

 

Lease liabilities, non-current

 

 

140,965

 

Total operating lease liabilities

 

$

158,810