Note 8 - Leases

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Lessee, Operating Leases and Finance Lease [Text Block]

NOTE 8. Leases

The Company leases certain offices, computer equipment and its shared cloud platform facilities under non-cancelable operating leases for varying periods through 2028. While under the Company's lease agreements the Company has options to extend its certain leases, the Company has not included renewal options in determining the lease terms for calculating its lease liabilities, as these options are not reasonably certain of being exercised. Lease expense was $14.9 million, $16.8 million and $16.7 million for the years ended December 31, 2022, 2021 and 2020, respectively.

Supplemental cash flow information related to operating leases was as follows:

	Year Ended December 31,
	2022		2021		2020
	(in thousands)
Cash payments included in the measurement of lease liabilities	$	15,751	$	14,646	$	13,403
Lease liabilities arising from obtaining right-of-use assets	$	8,669	$	4,110	$	15,837

The weighted average remaining lease term and the weighted average discount rate of the Company's operating leases were as follows:

	December 31,
	2022			2021
Weighted average remaining lease term (years)		3.7			4.5
Weighted average discount rate		5.2	%		4.8	%

Maturities of the Company's operating lease liabilities as of  December 31, 2022 are as follows:

		(in thousands)
2023	$	14,940
2024		13,460
2025		7,715
2026		4,498
2027		4,353
2028 and thereafter		1,465
Total minimum lease payments		46,431
Less: interest		(4,250	)
Present value of net minimum lease payments		42,181
Less: lease liabilities, current		(13,060	)
Lease liabilities, noncurrent	$	29,121