Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lessee, Operating Leases

Leases

The Company leases certain equipment and facilities under non-cancelable operating leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet; expense related to these leases is recognized on a straight-line basis over the lease term.

The components of lease expense are as follows (dollars in thousands):

	Year ended December 31,
	2021		2020		2019
Operating lease cost	$	8,510	7,870		6,380
Short-term, variable and other lease costs	2,460		1,540		1,140
Total lease cost	$	10,970	$	9,410	$	7,520

Maturities of lease liabilities are as follows (dollars in thousands):

Year ended December 31,	Operating Leases(a)
2022	$	8,500
2023	8,870
2024	7,990
2025	6,670
2026	6,540
Thereafter	18,930
Total lease payments	57,500
Less: Imputed interest	(5,600)
Present value of lease liabilities	$	51,900

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(a)     The maturity table excludes cash flows associated with exited lease facilities. Liabilities for exited lease facilities are included in accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheet.

The weighted-average remaining term of the Company's operating leases as of December 31, 2021 is approximately 7.5 years. The weighted-average discount rate as of December 31, 2021 is approximately 3.8%.

Cash paid for amounts included in the measurement of operating lease liabilities was approximately $7.9 million, $7.9 million and $6.4 million during 2021, 2020 and 2019 respectively, and is included in cash flows provided by operating activities in the consolidated statement of cash flows.

Right-of-use assets obtained in exchange for lease liabilities were approximately $19.6 million and $14.0 million during 2021 and 2020, respectively.