v3.25.2
Leases
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Leases Leases
We have operating leases for offices, which have remaining lease terms of up to eight years.
Components of lease expense were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating lease expense$8,144 $10,579 $15,572 $20,832 
Variable lease expense1,301 1,497 2,574 3,218 
Sublease income(816)(552)(1,513)(796)
Total lease expense$8,629 $11,524 $16,633 $23,254 
Supplemental balance sheet information related to leases was as follows (in thousands, except weighted-average figures):
As of
ClassificationJune 30, 2025December 31, 2024
Operating lease assetsOther assets$69,599 $78,562 
Current operating lease liabilitiesAccrued expenses and other$31,950 $33,703 
Long-term operating lease liabilitiesOther long-term liabilities75,855 81,093 
Total operating lease liabilities$107,805 $114,796 
As of June 30, 2025 and December 31, 2024, our operating leases had a weighted-average remaining lease term of 4.2 years and 4.3 years, respectively, and a weighted-average discount rate of 5.6% and 5.4%, respectively. During the three and six months ended June 30, 2024, we recorded $8.6 million and $12.2 million, respectively, of impairment charges on operating lease assets, primarily within general and administrative.
As of June 30, 2025, our lease liabilities were as follows (in thousands):
Operating Leases
Gross lease liabilities$120,667 
Less: imputed interest12,862 
Present value of lease liabilities$107,805 
As of June 30, 2025, we have entered into a lease that has not yet commenced with future minimum lease payments of $7.2 million which are not yet reflected on our consolidated balance sheet. The operating lease will commence in 2025 with lease terms of approximately seven years.