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Leases (Tables)
12 Months Ended
Dec. 31, 2020
Lessee Disclosure [Abstract]  
Lease, Cost

Lease cost for the years ended December 31, 2020 and 2019 is recorded under rent and occupancy expenses in the consolidated statements of earnings and is comprised of the following:

 

 

 

 

2020

 

 

2019

 

 

Operating lease cost

 

$

91,436

 

 

$

81,912

 

 

Variable lease cost

 

 

26,857

 

 

 

25,843

 

 

Total lease cost

 

$

118,293

 

 

$

107,755

 

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities as of December 31, 2020 are as follows:

 

 

2021

 

$

89,317

 

 

2022

 

 

82,920

 

 

2023

 

 

70,654

 

 

2024

 

 

55,981

 

 

2025

 

 

50,006

 

 

Thereafter

 

 

157,576

 

 

Total minimum lease payments

 

 

506,454

 

 

Less imputed interest

 

 

68,265

 

 

Lease liability

 

$

438,189

 

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:

 

 

 

 

2020

 

 

2019

 

 

Weighted-average remaining lease term (in years)

 

 

7.86

 

 

 

7.37

 

 

Weighted-average discount rate

 

 

4.08

%

 

 

4.78

%

Other Information Related to Leases

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

 

 

 

 

2020

 

 

2019

 

 

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

 

$

109,515

 

 

$

103,788

 

 

Cash paid for amounts included in the measurement of lease liabilities

 

$

90,101

 

 

$

79,040