Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Leases

v3.24.0.1
Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases Leases
The Company has entered into various non-cancelable operating leases for its office facilities with expiration dates through April 2032. The components of operating lease costs recorded under operating expenses for the years ended December 31, 2022 and 2023 were as follows:
2022 2023
Fixed cost 7,617  8,327 
Short-term lease cost 655  415 
Total operating lease cost $ 8,272  $ 8,742 
The short-term lease cost above includes $199 and $397 related to CPI adjustments for the years ended December 31, 2022 and 2023, respectively.
Cash payments paid for operating leases were $8,965 and $10,037 the years ended December 31, 2022 and 2023, respectively.
The Company’s lease expenses prior to the adoption of ASC 842 were $5,054 for the year ended December 31, 2021.
As of December 31, 2023, the Company’s weighted average remaining lease term was 7.92 years and the weighted average discount rate was 3.94%.
As of December 31, 2023, the minimum lease payments for the Company’s ROU assets over the remaining lease periods are as follows:
Years ending December 31,
2024 $ 7,099 
2025 6,532 
2026 5,589 
2027 5,572 
2028 5,572 
2029 and thereafter 18,439 
Total undiscounted lease payments 48,803 
Less: imputed interest (6,379)
Present value of lease liabilities $ 42,424 
The Company subleases certain unused office space to third parties. The Company recorded $226 of sublease income during the year ended December 31, 2023. The Company did not record any sublease income during the years ended December 31, 2021 and 2022.