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Leases
 3 Months Ended
Mar. 31, 2022
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. The following table presents the components of lease expense for the periods indicated:
Three Months Ended
March 31,
20222021
(In thousands)
Operating lease expense:
Fixed costs$8,479 $8,496 
Variable costs23 15 
Short-term lease costs364 256 
Sublease income(1,076)(1,099)
Net lease expense$7,790 $7,668 
The following table presents supplemental cash flow information related to leases for the periods indicated:
Three Months Ended
March 31,
20222021
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$8,839 $9,278 
ROU assets obtained in exchange for lease obligations:
Operating leases$17,301 $10,482 
The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated:
March 31,December 31,
20222021
(Dollars in thousands)
Operating leases:
Operating lease right-of-use assets, net$130,267 $123,225 
Operating lease liabilities$151,459 $142,117 
Weighted average remaining lease term (in years)6.05.6
Weighted average discount rate2.23 %2.23 %
The following table presents the maturities of operating lease liabilities as of the date indicated:
March 31, 2022
(In thousands)
Period ending December 31,
2022$27,467 
202334,955 
202427,881 
202521,023 
202615,889 
Thereafter35,547 
Total operating lease liabilities162,762 
Less: Imputed interest(11,303)
Present value of operating lease liabilities$151,459 
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, 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. The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" in the three months ended March 31, 2022 and 2021.
The following table presents the rental payments to be received on operating leases as of the date indicated:
March 31, 2022
(In thousands)
Period ending December 31,
2022$35,552 
202339,743 
202434,753 
202527,428 
202621,670 
Thereafter43,191 
Total undiscounted cash flows$202,337 
Leases LEASES
Operating Leases as a Lessee
Our lease expense is a component of "Occupancy expense" on our condensed consolidated statements of earnings. The following table presents the components of lease expense for the periods indicated:
Three Months Ended
March 31,
20222021
(In thousands)
Operating lease expense:
Fixed costs$8,479 $8,496 
Variable costs23 15 
Short-term lease costs364 256 
Sublease income(1,076)(1,099)
Net lease expense$7,790 $7,668 
The following table presents supplemental cash flow information related to leases for the periods indicated:
Three Months Ended
March 31,
20222021
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$8,839 $9,278 
ROU assets obtained in exchange for lease obligations:
Operating leases$17,301 $10,482 
The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated:
March 31,December 31,
20222021
(Dollars in thousands)
Operating leases:
Operating lease right-of-use assets, net$130,267 $123,225 
Operating lease liabilities$151,459 $142,117 
Weighted average remaining lease term (in years)6.05.6
Weighted average discount rate2.23 %2.23 %
The following table presents the maturities of operating lease liabilities as of the date indicated:
March 31, 2022
(In thousands)
Period ending December 31,
2022$27,467 
202334,955 
202427,881 
202521,023 
202615,889 
Thereafter35,547 
Total operating lease liabilities162,762 
Less: Imputed interest(11,303)
Present value of operating lease liabilities$151,459 
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, 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. The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" in the three months ended March 31, 2022 and 2021.
The following table presents the rental payments to be received on operating leases as of the date indicated:
March 31, 2022
(In thousands)
Period ending December 31,
2022$35,552 
202339,743 
202434,753 
202527,428 
202621,670 
Thereafter43,191 
Total undiscounted cash flows$202,337