Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Consolidated Balance Sheet Information and Supplemental Information

The following was included in our consolidated balance sheet as of December 31, 2024 and 2023 (in thousands):


		2024			2023
Assets
ROU operating lease assets		$	65,508		$	63,047

Liabilities
Short-term operating lease liabilities		$	10,331		$	12,087
Long-term operating lease liabilities			54,783			56,259
Total operating lease liabilities		$	65,114		$	68,346

Components of Lease Costs

We recognize lease expense for operating leases on a straight-line basis over the term of the lease. Net lease cost for the years ended December 31, 2024, 2023 and 2022 was $15.4 million, $14.4 million, and $13.8 million, respectively. The components of lease costs for the years ended December 31, 2024, 2023 and 2022 were as follows, in thousands:



Lease Cost		Classification		2024			2023			2022
Operating lease cost (a)		Selling, general and administrative expenses		$	15,885		$	14,879		$	14,219
Sublease (income) (b)		Selling, general and administrative expenses			(462)			(488)			(409)
Net lease cost				$	15,423		$	14,391		$	13,810


(a)	Includes expense related to short-term leases and variable payments, which were not significant.

(b)	Does not include rental revenue from leases of hardware consoles to customers, which was not significant.

Supplemental cash flow information for the years ended December 31, 2024, 2023 and 2022 was as follows, in thousands:


		2024			2023			2022
Cash paid for amounts included in the measurement of lease liabilities		$	14,529		$	13,804		$	13,710
Right-of-use assets obtained in exchange for lease obligations		$	9,947		$	8,891		$	11,130

Generally, our lease agreements do not specify an implicit rate. Therefore, we estimate our incremental borrowing rate, which is defined as the interest rate we would pay to borrow on a collateralized basis, considering such factors as length of lease term and the risks of the economic environment in which the leased asset operates. As of December 31, 2024, 2023 and 2022, our lease agreements had the following remaining lease term and discount rates:


			2024			2023			2022
Weighted average remaining lease term			9.6 years			9.6 years			10.4 years
Weighted average discount rate			3.5%			3.4%			3.4%

Maturities of Operating Lease Liabilities

As of December 31, 2024, maturities of operating lease liabilities were as follows, in thousands:


Year ending December 31,		Amounts due under operating leases
2025		$	11,915
2026			10,067
2027			8,726
2028			6,948
2029			6,258
Thereafter			32,692
Total lease payments			76,606
Less: Imputed interest			(11,492)
Total		$	65,114