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Leases
 6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Leases LEASES
Operating Leases as a Lessee
Our lease expense is a component of "Occupancy expense" on our condensed consolidated statements of earnings (loss). The following table presents the components of lease expense for the periods indicated:
Three Months EndedSix Months Ended
June 30,June 30,
2021202020212020
(In thousands)
Operating lease expense:
Fixed costs$8,776 $8,832 $17,272 $17,077 
Variable costs9 12 24 25 
Short-term lease costs429 102 685 194 
Sublease income(1,084)(1,003)(2,183)(2,019)
Net lease expense$8,130 $7,943 $15,798 $15,277 
The following table presents supplemental cash flow information related to leases for the periods indicated:
Six Months Ended
June 30,
20212020
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$18,450 $16,519 
ROU assets obtained in exchange for lease obligations:
Operating leases$16,649 $14,542 
The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated:
June 30,December 31,
20212020
(Dollars in thousands)
Operating leases:
Operating lease right-of-use assets, net$120,595 $119,787 
Operating lease liabilities$139,435 $139,501 
Weighted average remaining lease term (in years)5.85.8
Weighted average discount rate2.38 %2.54 %
The following table presents the maturities of operating lease liabilities as of the date indicated:
June 30, 2021
(In thousands)
Period ending December 31,
2021$17,733 
202232,298 
202329,411 
202422,099 
202515,293 
Thereafter33,447 
Total operating lease liabilities150,281 
Less: Imputed interest(10,846)
Present value of operating lease liabilities$139,435 
Operating Leases as a Lessor
We provide equipment financing to our customers through operating leases where we facilitate the purchase of equipment leased to our customers. The equipment is shown on the condensed consolidated balance sheets as "Equipment leased to others under operating leases" and is depreciated to its estimated residual value at the end of the lease term, shown as "Leased equipment depreciation" in the condensed consolidated statements of earnings (loss), according to our fixed asset accounting policy. We receive periodic rental income payments under the leases, which are recorded as "Noninterest Income" in the condensed consolidated statements of earnings (loss). The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" in the three or six months ended June 30, 2021 and 2020.
The following table presents the rental payments to be received on operating leases as of the date indicated:
June 30, 2021
(In thousands)
Period ending December 31,
2021$20,687 
202241,447 
202332,252 
202426,567 
202519,197 
Thereafter42,492 
Total undiscounted cash flows$182,642 
Leases LEASES
Operating Leases as a Lessee
Our lease expense is a component of "Occupancy expense" on our condensed consolidated statements of earnings (loss). The following table presents the components of lease expense for the periods indicated:
Three Months EndedSix Months Ended
June 30,June 30,
2021202020212020
(In thousands)
Operating lease expense:
Fixed costs$8,776 $8,832 $17,272 $17,077 
Variable costs9 12 24 25 
Short-term lease costs429 102 685 194 
Sublease income(1,084)(1,003)(2,183)(2,019)
Net lease expense$8,130 $7,943 $15,798 $15,277 
The following table presents supplemental cash flow information related to leases for the periods indicated:
Six Months Ended
June 30,
20212020
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$18,450 $16,519 
ROU assets obtained in exchange for lease obligations:
Operating leases$16,649 $14,542 
The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated:
June 30,December 31,
20212020
(Dollars in thousands)
Operating leases:
Operating lease right-of-use assets, net$120,595 $119,787 
Operating lease liabilities$139,435 $139,501 
Weighted average remaining lease term (in years)5.85.8
Weighted average discount rate2.38 %2.54 %
The following table presents the maturities of operating lease liabilities as of the date indicated:
June 30, 2021
(In thousands)
Period ending December 31,
2021$17,733 
202232,298 
202329,411 
202422,099 
202515,293 
Thereafter33,447 
Total operating lease liabilities150,281 
Less: Imputed interest(10,846)
Present value of operating lease liabilities$139,435 
Operating Leases as a Lessor
We provide equipment financing to our customers through operating leases where we facilitate the purchase of equipment leased to our customers. The equipment is shown on the condensed consolidated balance sheets as "Equipment leased to others under operating leases" and is depreciated to its estimated residual value at the end of the lease term, shown as "Leased equipment depreciation" in the condensed consolidated statements of earnings (loss), according to our fixed asset accounting policy. We receive periodic rental income payments under the leases, which are recorded as "Noninterest Income" in the condensed consolidated statements of earnings (loss). The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" in the three or six months ended June 30, 2021 and 2020.
The following table presents the rental payments to be received on operating leases as of the date indicated:
June 30, 2021
(In thousands)
Period ending December 31,
2021$20,687 
202241,447 
202332,252 
202426,567 
202519,197 
Thereafter42,492 
Total undiscounted cash flows$182,642