Quarterly report pursuant to Section 13 or 15(d)

Operating Leases (Tables)

v3.22.1
Operating Leases (Tables)
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Schedule of Operating Lease Cost, Included in Selling, General and Administrative Expense
The operating lease cost, included in selling, general and administrative expense in the condensed consolidated statement
s
of net and comprehensive income, consisted of the following (in thousands):
 
     Three Months Ended
March 31,		  
     2022      2021  
Operating lease cost:
                  
Lease cost
(1)
    $ 6,544      $ 6,589  
Variable lease cost
(2)
      1,363        1,400  
Sublease income
      (234 )       (33 ) 
    
 
 
     
 
 
  
     $ 7,673      $ 7,956  
    
 
 
     
 
 
  
 
(1)
Includes short-term lease cost and ROU asset amortization.
(2)
Primarily relates to common area maintenance, property taxes, insurance, utilities and parking.
Maturities of lease liabilities
Maturities of lease liabilities by year consisted of the following (in thousands):
 
     March 31, 2022  
Remainder of 2022
    $ 15,484  
2023
      18,311  
2024
      15,829  
2025
      13,320  
2026
      9,716  
Thereafter
      7,027  
    
 
 
  
Total future minimum lease payments
      79,687  
Less imputed interest
      (5,104 ) 
    
 
 
  
Present value of operating lease liabilities
    $ 74,583  
    
 
 
  
Schedule of Supplemental Cash Flow Information and Noncash Activity Related to Operating Leases
Supplemental cash flow information and noncash activity related to the operating leases consisted of the following (in thousands):
 
     Three Months Ended
March 31,		  
     2022      2021  
Operating cash flow information:
                  
Cash paid for amounts included in the measurement of operating lease liabilities
    $ 5,589      $ 5,862  
Noncash activity:
                  
ROU assets obtained in exchange for operating lease liabilities
    $ 2,435      $ 3,004  
Tenant improvements owned by lessor related to ROU assets
(1)
    $ 66       $ 55   
 
(1)
Reclassification from other assets current.
Schedule of Other Information Related to Operating Leases
Other information related to the operating leases consisted of the following:
 
     March 31, 2022     December 31, 2021  
Weighted average remaining operating lease term
      4.44 years       4.57 years  
Weighted average discount rate
      2.9 %      2.9 %