Leases

6 Months Ended

Jun. 30, 2026

We have operating leases for offices, which have remaining lease terms of up to seven years.

Components of lease expense were as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating lease expense	$	7,014	$	8,144	$	13,874	$	15,572

Variable lease expense	1,342		1,301		2,555		2,574
Sublease income	(1,572)		(816)		(3,316)		(1,513)
Total lease expense	$	6,784	$	8,629	$	13,113	$	16,633

Supplemental balance sheet information related to leases was as follows (in thousands, except weighted-average figures):


		As of
	Classification	June 30, 2026		December 31, 2025
Operating lease assets	Other assets	$	60,233	$	62,207

Current operating lease liabilities	Accrued expenses and other	$	30,026	$	28,421
Long-term operating lease liabilities	Other long-term liabilities	53,464		60,961
Total operating lease liabilities		$	83,490	$	89,382

As of June 30, 2026 and December 31, 2025, our operating leases had a weighted-average remaining lease term of 3.7 years and 3.8 years, respectively, and a weighted-average discount rate of 5.3% and 5.0%, respectively.

As of June 30, 2026, our lease liabilities were as follows (in thousands):


	Operating Leases
Gross lease liabilities	$	91,781
Less: imputed interest	8,291
Present value of lease liabilities	$	83,490