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Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Amounts Reported on Consolidated Balance Sheets for Operating Leases

Amounts reported on the Company’s Consolidated Balance Sheets for operating leases were as follows:

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

 

(Amounts in Thousands)

 

Operating lease assets, net

 

$

36,048

 

 

$

37,991

 

Short-term operating lease liabilities (in accrued expenses)

 

 

9,774

 

 

 

9,283

 

Long-term operating lease liabilities

 

 

32,859

 

 

 

35,516

 

Total operating lease liabilities

 

$

42,633

 

 

$

44,799

 

 

 

Components of Lease Cost Reported in General and Administrative Expenses in Consolidated Statements of Income

Components of lease costs were reported in general and administrative expenses in the Company’s Consolidated Statements of Income as follows:

 

 

 

For the Years Ended December 31,

 

 

 

(Amounts in Thousands)

 

 

 

2021

 

 

2020

 

 

2019

 

Operating lease costs

 

$

11,150

 

 

$

9,197

 

 

$

7,219

 

Short-term lease costs

 

 

739

 

 

 

761

 

 

 

585

 

Total lease costs

 

 

11,889

 

 

 

9,958

 

 

 

7,804

 

Less: sublease income

 

 

(679

)

 

 

(323

)

 

 

(312

)

Total lease costs, net

 

$

11,210

 

 

$

9,635

 

 

$

7,492

 

 

Schedule of Weighted Average Remaining Lease Terms and Discount Rates

Weighted average remaining lease terms and discount rates were as follows:

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Operating leases:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average remaining lease term

 

 

6.39

 

 

 

6.97

 

 

 

3.42

 

Weighted average discount rate

 

 

3.91

%

 

 

4.18

%

 

 

5.14

%

Summary of Remaining Operating Lease Payments

Remaining operating lease payments as of December 31, 2021 were as follows:

 

 

 

Operating Leases

 

 

 

(Amounts in Thousands)

 

Due in 12-month period ended December 31,

 

 

 

 

2022

 

$

11,040

 

2023

 

 

9,245

 

2024

 

 

7,104

 

2025

 

 

4,028

 

2026

 

 

3,423

 

Thereafter

 

 

13,618

 

Total future minimum rental commitments

 

 

48,458

 

Less: Imputed interest

 

 

(5,825

)

Total lease liabilities

 

$

42,633

 

Supplemental Cash Flows Information

 

 

For the Years Ended December 31,

 

 

 

(Amounts in Thousands)

 

 

 

 

2021

 

 

 

2020

 

 

 

2019

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

11,288

 

 

$

8,769

 

 

$

7,574

 

Right-of-use assets obtained in exchange for lease obligations:

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

$

7,705

 

 

$

25,807

 

 

$

10,299