Under ASC 842, operating lease expense is generally recognized on a straight-line basis over the term of the lease. The Company has entered into operating lease agreements for office space with remaining contractual terms up to fifteen years, some of which include renewal options that extend the leases for up to 10 years. These renewal options are not considered in the remaining lease term unless it is reasonably certain the Company will exercise such options. The operating lease agreements do not contain any material residual value guarantees or material restrictive covenants.

As the rate implicit in the leases generally is not readily determinable for our operating leases, the discount rates used to determine the present value of our lease liability are based on our incremental borrowing rate at the lease commencement date and commensurate with the remaining lease term. Our incremental borrowing rate for a lease is the rate of interest we would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Leases with an initial term of 12 months or less are not recorded on the balance sheet and are excluded from our weighted-average remaining lease term.


	Year Ended December 31,
		2024	2023	2022
Cash paid for amounts included in the measurement of lease liabilities (operating cash flows)		$2,874	$2,693	$1,886
Weighted-average remaining lease term - operating leases		5.87 years	2.88 years	4.41 years
Weighted-average discount rate - operating leases		5.94%	5.50%	4.73%
Total lease costs1		$3,115	$3,124	$1,000


Maturity of Lease Liabilities
2025	$	2,383
2026	2,355
2027	798
2028	242
2029	249
Thereafter	2,237
Total future minimum lease payments	$	8,264
Less: Imputed interest	(1,766)
Present value of future minimum lease payments	$	6,498