Annual report [Section 13 and 15(d), not S-K Item 405]

Operating Leases

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Operating Leases
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Operating Leases Operating Leases
The Company has operating leases for all of its facilities and autos. The operating lease cost, included in selling, general and administrative expense in the consolidated statements of operations, consisted of the following (in thousands):
Years Ended
December 31,
2024 2023
Operating lease cost:
Lease cost(1)
$ 29,057  $ 30,269 
Variable lease cost(2)
6,241  5,283 
Sublease income (1,037) (976)
$ 34,261  $ 34,576 
(1)Includes charges related to consolidation of office space during the year ended December 31, 2024 and 2023.
(2)Primarily relates to common area maintenance, property taxes, insurance, utilities and parking.
Maturities of lease liabilities by year consisted of the following (in thousands):
December 31,
2024
2025 $ 22,183 
2026 20,827 
2027 15,706 
2028 12,260 
2029 8,716 
Thereafter 16,953 
Total future minimum lease payments 96,645 
Less imputed interest (12,422)
Present value of operating lease liabilities $ 84,223 
Other information related to the operating leases consisted of the following:
December 31,
2024 2023
Weighted average remaining operating lease term 5.11 years 5.40 years
Weighted average discount rate 5.2  % 4.7  %