The following tables summarize the Company’s lease cost, cash flows and other supplemental information related to its operating leases.



	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026			2025
Lease cost(a):
Operating lease cost	$	26,043	$	22,368	$	76,626		$	67,292
Short-term lease costs	144		245		443			829
Variable lease cost	3,184		2,894		9,934			8,550
Sublease income	(604)		(610)		(1,807)			(1,787)
Total lease cost	$	28,767	$	24,897	$	85,196		$	74,884
Weighted-average remaining lease term					12.4			12.2
Weighted-average discount rate					5.60		%	5.60		%

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(a)Office rent expense for the three and nine months ended September 30, 2026 was $25.9 million and $76.2 million, respectively. Office rent expense for the three and nine months ended September 30, 2025 was $22.0 million and $67.1 million, respectively.

Supplemental Condensed Consolidated Statements of Cash Flows information related to leases were as follows (in thousands):


	Nine Months Ended September 30,
	2026		2025
Cash paid for amounts included in the measurement of lease liabilities	$	16,021	$	42,241

Right-of-use assets obtained in exchange for new operating lease liabilities	75,108		398,931
Other non-cash changes in right-of-use assets and operating lease liabilities	(28,189)		1,091

The following table shows the undiscounted cash flows on an annual basis for operating lease liabilities as of September 30, 2026 (in thousands):


Year Due	Lease Amount(a)
Remainder of 2026	$	(676)
2027	82,995
2028	83,241
2029	80,886
2030	75,916
Thereafter	641,208
Total future undiscounted operating lease payments	963,570
Less: imputed interest	(303,770)
Present value of operating lease liabilities	$	659,800