Leases

12 Months Ended

Dec. 31, 2023

We have non-cancelable lease agreements for certain of our offices with original lease terms expiring between 2023 and 2042. Total operating lease costs were $101.0 million, $109.5 million, and $69.8 million for the years ended December 31, 2023, 2022, and 2021, respectively.

The weighted-average remaining lease term (in years) and discount rate related to the operating leases were as follows:


	As of December 31,
	2023		2022
Weighted-average remaining lease term	10.0		6.8
Weighted-average discount rate	6.1	%	5.0	%

The maturities of our operating lease liabilities as of December 31, 2023, were as follows:


	Operating Leases
	(in thousands)
Year ending December 31,
2024	$	86,440
2025	72,225
2026	84,100
2027	75,521
2028	72,890
Thereafter	432,152
Total lease payments	$	823,328
Less: Imputed interest	(227,728)
Present value of lease liabilities	$	595,600

As of December 31, 2023, we had additional operating leases that have not yet commenced for facilities with lease obligations of $70.7 million. These operating leases will commence starting in 2024 with lease terms of approximately 7 years to 11 years.

Cash payments included in the measurement of our operating lease liabilities were $97.7 million, $94.9 million, and $73.9 million for the years ended December 31, 2023, 2022, and 2021, respectively.

Lease liabilities arising from obtaining operating lease right-of-use assets were $220.2 million, $147.4 million, and $99.3 million for the years ended December 31, 2023, 2022, and 2021, respectively.