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Leases (Tables)
12 Months Ended
Dec. 31, 2023
Lessee Disclosure [Abstract]  
Lease, Cost

Lease cost is recorded under rent and occupancy expenses in the consolidated statements of earnings and is comprised of the following for the year-ended December 31:

 

 

2023

 

 

2022

 

 

2021

 

Operating lease cost

 

$

123,411

 

 

$

107,858

 

 

$

98,219

 

Variable lease cost

 

 

50,508

 

 

 

47,553

 

 

 

39,607

 

Total lease cost

 

$

173,919

 

 

$

155,411

 

 

$

137,826

 

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities as of December 31, 2023 are as follows:

2024

 

$

119,565

 

2025

 

 

112,117

 

2026

 

 

93,952

 

2027

 

 

73,521

 

2028

 

 

55,430

 

Thereafter

 

 

150,445

 

Total minimum lease payments

 

 

605,030

 

Less imputed interest

 

 

77,297

 

Lease liability

 

$

527,733

 

Schedule of Weighted-average Remaining Lease Term and Weighted-average Discount Rate

The weighted-average remaining lease term and weighted-average discount rate are as follows:

 

 

2023

 

 

2022

 

Weighted-average remaining lease term (in years)

 

 

6.68

 

 

 

7.10

 

Weighted-average discount rate

 

 

4.34

%

 

 

3.63

%

Other Information Related to Leases

Other information related to the Company's operating leases are as follows:

 

 

2023

 

 

2022

 

 

2021

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

105,888

 

 

$

151,654

 

 

$

117,409

 

Cash paid for amounts included in the measurement of lease liabilities

 

$

120,793

 

 

$

106,772

 

 

$

95,804