Lease Commitments

12 Months Ended

Dec. 31, 2021

The following tables provide a summary of lease costs and future required fixed payments related to the Company’s leasing arrangements in which it is the lessee:


	Year Ended
(Dollars in thousands)	December 31, 2021
Operating lease cost	$	22,938
Finance lease cost:
Amortization of right-of-use asset	164
Interest on lease liability	234
Short-term lease cost	321
Variable lease cost	3,806
Sublease income	(72)
Total lease cost	$	27,391

Cash paid for amounts included in the measurement of operating lease liabilities	$	23,650
Cash paid for amounts included in the measurement of finance lease liabilities	164
Right-of-use asset obtained in exchange for new operating lease liabilities	8,262
Right-of-use asset obtained in exchange for new finance lease liabilities	5,343
Weighted average remaining lease term - operating leases	12.1 years
Weighted average remaining lease term - finance leases	39.0 years
Weighted average discount rate - operating leases	4.03		%
Weighted average discount rate - finance leases	3.43		%


(In thousands)	Payments

2022	$	24,582
2023	21,625
2024	20,461
2025	19,203
2026	17,820
2027 and thereafter	132,417
Total minimum future amounts	$	236,108
Impact of measuring the lease liability on a discounted basis	(58,069)
Total lease liability	$	178,039

In addition to the lessee arrangements discussed above, the Company also leases certain owned premises and receives rental income from such lessor agreements. Gross rental income related to the Company’s buildings totaled $7.8 million, $8.7 million and $9.4 million, in 2021, 2020 and 2019, respectively. The approximate annual gross rental receipts under noncancelable agreements with remaining terms in excess of one year as of December 31, 2021, are as follows (in thousands):


	Receipts
2022	$	5,452
2023	3,178
2024	1,957
2025	1,390
2026	986
2027 and thereafter	511
Total minimum future amounts	$	13,474

Lease Commitments

The following tables provide a summary of lease costs and future required fixed payments related to the Company’s leasing arrangements in which it is the lessee:


	Year Ended
(Dollars in thousands)	December 31, 2021
Operating lease cost	$	22,938
Finance lease cost:
Amortization of right-of-use asset	164
Interest on lease liability	234
Short-term lease cost	321
Variable lease cost	3,806
Sublease income	(72)
Total lease cost	$	27,391

Cash paid for amounts included in the measurement of operating lease liabilities	$	23,650
Cash paid for amounts included in the measurement of finance lease liabilities	164
Right-of-use asset obtained in exchange for new operating lease liabilities	8,262
Right-of-use asset obtained in exchange for new finance lease liabilities	5,343
Weighted average remaining lease term - operating leases	12.1 years
Weighted average remaining lease term - finance leases	39.0 years
Weighted average discount rate - operating leases	4.03		%
Weighted average discount rate - finance leases	3.43		%


(In thousands)	Payments

2022	$	24,582
2023	21,625
2024	20,461
2025	19,203
2026	17,820
2027 and thereafter	132,417
Total minimum future amounts	$	236,108
Impact of measuring the lease liability on a discounted basis	(58,069)
Total lease liability	$	178,039


	Receipts
2022	$	5,452
2023	3,178
2024	1,957
2025	1,390
2026	986
2027 and thereafter	511
Total minimum future amounts	$	13,474

Lease Commitments

The following tables provide a summary of lease costs and future required fixed payments related to the Company’s leasing arrangements in which it is the lessee:


	Year Ended
(Dollars in thousands)	December 31, 2021
Operating lease cost	$	22,938
Finance lease cost:
Amortization of right-of-use asset	164
Interest on lease liability	234
Short-term lease cost	321
Variable lease cost	3,806
Sublease income	(72)
Total lease cost	$	27,391

Cash paid for amounts included in the measurement of operating lease liabilities	$	23,650
Cash paid for amounts included in the measurement of finance lease liabilities	164
Right-of-use asset obtained in exchange for new operating lease liabilities	8,262
Right-of-use asset obtained in exchange for new finance lease liabilities	5,343
Weighted average remaining lease term - operating leases	12.1 years
Weighted average remaining lease term - finance leases	39.0 years
Weighted average discount rate - operating leases	4.03		%
Weighted average discount rate - finance leases	3.43		%


(In thousands)	Payments

2022	$	24,582
2023	21,625
2024	20,461
2025	19,203
2026	17,820
2027 and thereafter	132,417
Total minimum future amounts	$	236,108
Impact of measuring the lease liability on a discounted basis	(58,069)
Total lease liability	$	178,039


	Receipts
2022	$	5,452
2023	3,178
2024	1,957
2025	1,390
2026	986
2027 and thereafter	511
Total minimum future amounts	$	13,474