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Leases
 6 Months Ended
Jun. 30, 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 EndedSix Months Ended
June 30,June 30,
2022202120222021
(In thousands)
Operating lease expense:
Fixed costs$9,042 $8,776 $17,521 $17,272 
Variable costs36 9 59 24 
Short-term lease costs379 429 743 685 
Sublease income(1,077)(1,084)(2,153)(2,183)
Net lease expense$8,380 $8,130 $16,170 $15,798 
The following table presents supplemental cash flow information related to leases for the periods indicated:
Six Months Ended
June 30,
20222021
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$17,574 $18,450 
ROU assets obtained in exchange for lease obligations:
Operating leases$23,804 $16,649 
The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated:
June 30,December 31,
20222021
(Dollars in thousands)
Operating leases:
Operating lease right-of-use assets, net$128,601 $123,225 
Operating lease liabilities$149,905 $142,117 
Weighted average remaining lease term (in years)5.95.6
Weighted average discount rate2.28 %2.23 %
The following table presents the maturities of operating lease liabilities as of the date indicated:
June 30, 2022
(In thousands)
Period ending December 31,
2022$18,808 
202335,920 
202428,731 
202521,902 
202616,817 
Thereafter38,902 
Total operating lease liabilities161,080 
Less: Imputed interest(11,175)
Present value of operating lease liabilities$149,905 
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" during the six months ended June 30, 2022 and 2021.
The following table presents the rental payments to be received on operating leases as of the date indicated:
June 30, 2022
(In thousands)
Period ending December 31,
2022$22,902 
202340,722 
202436,156 
202527,659 
202621,901 
Thereafter44,456 
Total undiscounted cash flows$193,796 
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 EndedSix Months Ended
June 30,June 30,
2022202120222021
(In thousands)
Operating lease expense:
Fixed costs$9,042 $8,776 $17,521 $17,272 
Variable costs36 9 59 24 
Short-term lease costs379 429 743 685 
Sublease income(1,077)(1,084)(2,153)(2,183)
Net lease expense$8,380 $8,130 $16,170 $15,798 
The following table presents supplemental cash flow information related to leases for the periods indicated:
Six Months Ended
June 30,
20222021
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$17,574 $18,450 
ROU assets obtained in exchange for lease obligations:
Operating leases$23,804 $16,649 
The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated:
June 30,December 31,
20222021
(Dollars in thousands)
Operating leases:
Operating lease right-of-use assets, net$128,601 $123,225 
Operating lease liabilities$149,905 $142,117 
Weighted average remaining lease term (in years)5.95.6
Weighted average discount rate2.28 %2.23 %
The following table presents the maturities of operating lease liabilities as of the date indicated:
June 30, 2022
(In thousands)
Period ending December 31,
2022$18,808 
202335,920 
202428,731 
202521,902 
202616,817 
Thereafter38,902 
Total operating lease liabilities161,080 
Less: Imputed interest(11,175)
Present value of operating lease liabilities$149,905 
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" during the six months ended June 30, 2022 and 2021.
The following table presents the rental payments to be received on operating leases as of the date indicated:
June 30, 2022
(In thousands)
Period ending December 31,
2022$22,902 
202340,722 
202436,156 
202527,659 
202621,901 
Thereafter44,456 
Total undiscounted cash flows$193,796