LEASES |
LEASES Operating lease cost was $12.3 million, $16.1 million and $10.0 million for the years ended December 31, 2021, 2020 and 2019, respectively. For the years ended December 31, 2021, 2020 and 2019, sublease income offsetting operating lease cost was not material. Variable rent expense and short-term lease expense were not material for the years ended December 31, 2021 and 2020.
The following table presents the impact of leases on the Company's consolidated balance sheets at December 31, 2021 and 2020: | | | | | | | | | | | | | | | | | | | | | December 31, | (dollars in thousands) | Location | | 2021 | | 2020 | Operating lease right-of-use assets | Other assets | | $ | 56,070 | | | $ | 73,688 | | Operating lease liabilities | Other liabilities | | 64,823 | | | 76,837 | |
Future maturities of the Company's operating lease liabilities are summarized as follows: | | | | | | | | | (dollars in thousands) | | | Year Ended December 31, | | Lease Liability | 2022 | | $ | 12,048 | | 2023 | | 9,793 | | 2024 | | 7,958 | | 2025 | | 6,258 | | 2026 | | 5,839 | | Thereafter | | 26,232 | | Total lease payments | | $ | 68,128 | | Less: Interest | | (3,305) | | Present value of lease liabilities | | $ | 64,823 | |
| | | | | | | | | | | | | | | | | | (dollars in thousands) | December 31, | Supplemental lease information | 2021 | | 2020 | | 2019 | Weighted-average remaining lease term (years) | 8.3 | | 9.2 | | 5.1 | Weighted-average discount rate | 1.36 | % | | 1.85 | % | | 2.56 | % | Cash paid for amounts included in the measurement of lease liabilities: | | | | | | Operating cash flows from operating leases (cash payments) | $ | 12,334 | | | $ | 15,976 | | | $ | 9,910 | | Operating cash flows from operating leases (lease liability reduction) | $ | 12,563 | | | $ | 14,056 | | | $ | 10,244 | | Operating lease right-of-use assets obtained in exchange for leases entered into during the year, net of business combinations | $ | 10,426 | | | $ | 54,107 | | | $ | 5,826 | |
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