Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

7. Leases

The Company's ROU assets and lease liabilities are discussed in detail in Note 1 — Description of Business and Summary of Significant Accounting Policies.

The components of lease costs were as follows:

	Years Ended December 31,
	2022		2021		2020
Operating Lease Costs:
Fixed	$	53,428	$	54,397	$	52,875
Variable	7,512		6,281		5,973
Short-term	22,097		17,847		18,436
Total(1)	$	83,037	$	78,525	$	77,284

(1) Finance lease cost and sublease income were immaterial.

Supplemental cash flow information related to leases was as follows:

	Years Ended December 31,
	2022		2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	54,268	$	55,921	$	53,903
Operating cash flows for finance leases	335		357		434
Financing cash flows for finance leases	2,917		3,073		2,523
Total	$	57,520	$	59,351	$	56,860
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	57,190	$	47,666	$	21,381
Financing leases	3,149		2,016		3,708
Total	$	60,339	$	49,682	$	25,089

Supplemental balance sheet information related to leases were as follows:

	December 31, 2022		December 31, 2021
Operating Leases
Right-of-use assets:
Other assets and deferred charges	$	197,058	$	169,022
Lease liabilities:
Other accrued expenses	$	42,649	$	43,086
Other liabilities	165,741		134,448
Total operating lease liabilities	$	208,390	$	177,534
Finance Leases
Right-of-use assets:
Property, plant and equipment, net (1)	$	7,846	$	8,588
Lease liabilities:
Other accrued expenses	$	2,554	$	2,475
Other liabilities	6,189		6,767
Total finance lease liabilities	$	8,743	$	9,242

(1) Finance lease right-of-use assets are recorded net of accumulated depreciation of $8,017 and $7,675 for the years ended December 31, 2022 and December 31, 2021, respectively.

The aggregate future lease payments for operating and finance leases as of December 31, 2022 were as follows:

	Operating		Finance
2023	$	47,843	$	2,860
2024	40,524		2,432
2025	32,759		1,963
2026	23,009		1,480
2027	19,447		816
Thereafter	81,937		1
Total lease payments	245,519		9,552
Less interest	(37,129)		(809)
Present value of lease liabilities	$	208,390	$	8,743

Average lease terms and discount rates were as follows:

	December 31, 2022		December 31, 2021		December 31, 2020
Weighted-average remaining lease term (years)
Operating leases	7.8		5.8		5.9
Finance leases	3.6		4.2		4.8
Weighted-average discount rate
Operating leases	3.5	%	2.7	%	2.9	%
Finance leases	3.4	%	3.4	%	3.6	%

Leases

7. Leases

The Company's ROU assets and lease liabilities are discussed in detail in Note 1 — Description of Business and Summary of Significant Accounting Policies.

The components of lease costs were as follows:

	Years Ended December 31,
	2022		2021		2020
Operating Lease Costs:
Fixed	$	53,428	$	54,397	$	52,875
Variable	7,512		6,281		5,973
Short-term	22,097		17,847		18,436
Total(1)	$	83,037	$	78,525	$	77,284

(1) Finance lease cost and sublease income were immaterial.

Supplemental cash flow information related to leases was as follows:

	Years Ended December 31,
	2022		2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	54,268	$	55,921	$	53,903
Operating cash flows for finance leases	335		357		434
Financing cash flows for finance leases	2,917		3,073		2,523
Total	$	57,520	$	59,351	$	56,860
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	57,190	$	47,666	$	21,381
Financing leases	3,149		2,016		3,708
Total	$	60,339	$	49,682	$	25,089

Supplemental balance sheet information related to leases were as follows:

	December 31, 2022		December 31, 2021
Operating Leases
Right-of-use assets:
Other assets and deferred charges	$	197,058	$	169,022
Lease liabilities:
Other accrued expenses	$	42,649	$	43,086
Other liabilities	165,741		134,448
Total operating lease liabilities	$	208,390	$	177,534
Finance Leases
Right-of-use assets:
Property, plant and equipment, net (1)	$	7,846	$	8,588
Lease liabilities:
Other accrued expenses	$	2,554	$	2,475
Other liabilities	6,189		6,767
Total finance lease liabilities	$	8,743	$	9,242

(1) Finance lease right-of-use assets are recorded net of accumulated depreciation of $8,017 and $7,675 for the years ended December 31, 2022 and December 31, 2021, respectively.

The aggregate future lease payments for operating and finance leases as of December 31, 2022 were as follows:

	Operating		Finance
2023	$	47,843	$	2,860
2024	40,524		2,432
2025	32,759		1,963
2026	23,009		1,480
2027	19,447		816
Thereafter	81,937		1
Total lease payments	245,519		9,552
Less interest	(37,129)		(809)
Present value of lease liabilities	$	208,390	$	8,743

Average lease terms and discount rates were as follows:

	December 31, 2022		December 31, 2021		December 31, 2020
Weighted-average remaining lease term (years)
Operating leases	7.8		5.8		5.9
Finance leases	3.6		4.2		4.8
Weighted-average discount rate
Operating leases	3.5	%	2.7	%	2.9	%
Finance leases	3.4	%	3.4	%	3.6	%