Leases

12 Months Ended

Dec. 31, 2022

Leases of Lessee Disclosure [Text Block]

LEASES

The Company’s operating leases primarily comprise real estate and vehicles. Real estate leases are largely related to sales and marketing, service, and administrative offices, while vehicle leases are primarily related to the Company’s field sales and service organization. The consolidated balance sheet included the following balances as of December 31:


	2022		2021		Balance Sheet Location
Right-of-use assets, net	$	114,321	$	118,499	Other non-current assets

Current lease liability	$	29,271	$	30,636	Accrued and other liabilities
Non-current lease liability	86,888		88,316		Other non-current liabilities
Total operating lease liability	$	116,159	$	118,952

As of December 31, 2022, the Company has not entered into any material real estate operating leases expected to commence in 2023.

For the years ended December 31, 2022, 2021 and 2020, the Company had the following recorded in selling, general, and administrative associated with leasing arrangements:


	2022		2021		2020
Operating lease expense	$	37,145	$	36,137	$	34,559
Variable lease expense	4,649		4,503		4,182
Short-term lease expense	958		1,018		991
Total lease expense	$	42,752	$	41,658	$	39,732

Weighted average remaining lease term	7.9 years		7.4 years		6.8 years
Weighted average discount rate	2.9%		2.1%		2.5		%

Accruals and other on the consolidated statement of cash flows includes the amortization of the lease right-of-use asset of $34.6 million, $33.7 million, and $32.1 million, offset by a change in the lease liability of $34.6 million, $33.7 million, and $31.7 million for the years ended December 31, 2022, 2021, and 2020, respectively. Lease payments within operating activities were $35.2 million, $35.5 million, and $36.0 million for the years ended December 31, 2022, 2021, and 2020, respectively. The Company also obtained non-cash lease right-of-use assets in exchange for lease liabilities of $27.0 million, $46.4 million, and $35.0 million for the years ended December 31, 2022, 2021, and 2020, respectively.

The following is a maturity analysis of the annual undiscounted cash flows for the annual periods ended December 31:


2023	$	32,027
2024	22,386
2025	14,824
2026	11,117
2027	7,490
Thereafter	41,123
Total lease payments	128,967
Less imputed interest	(12,808)
Total operating lease liability	$	116,159