Leases

9 Months Ended

Sep. 30, 2026

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

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Operating lease expense	$	7,269	$	8,661	$	21,143	$	24,233

Variable lease expense	864		1,680		3,419		4,254
Sublease income	(2,505)		(1,148)		(5,821)		(2,661)
Total lease expense	$	5,628	$	9,193	$	18,741	$	25,826

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


		As of
	Classification	September 30, 2026		December 31, 2025
Operating lease assets	Other assets	$	59,144	$	62,207

Current operating lease liabilities	Accrued expenses and other	$	27,991	$	28,421
Long-term operating lease liabilities	Other long-term liabilities	52,819		60,961
Total operating lease liabilities		$	80,810	$	89,382

As of September 30, 2026 and December 31, 2025, our operating leases had a weighted-average remaining lease term of 4.2 years and 3.8 years, respectively, and a weighted-average discount rate of 5.7% and 5.0%, respectively.

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


	Operating Leases
Gross lease liabilities	$	90,959
Less: imputed interest	10,149
Present value of lease liabilities	$	80,810