Lease Commitments

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Lease Commitments

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, 2022
Operating lease cost	$	22,767
Finance lease cost:
Amortization of right-of-use asset	219
Interest on lease liability	291
Short-term lease cost	302
Variable lease cost	2,966
Sublease income	(73)
Total lease cost	$	26,472
Cash paid for amounts included in the measurement of operating lease liabilities	$	25,379
Cash paid for amounts included in the measurement of finance lease liabilities	337
Right-of-use asset obtained in exchange for new operating lease liabilities	7,832
Right-of-use asset obtained in exchange for new finance lease liabilities	—
Weighted average remaining lease term - operating leases	11.4 years
Weighted average remaining lease term - finance leases	38.0 years
Weighted average discount rate - operating leases	3.99		%
Weighted average discount rate - finance leases	3.43		%

(In thousands)	Payments
2023	$	21,494
2024	21,513
2025	20,453
2026	18,566
2027	17,584
2028 and thereafter	115,255
Total minimum future amounts	$	214,865
Impact of measuring the lease liability on a discounted basis	(48,127)
Total lease liability	$	166,738

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, $7.8 million and $8.7 million, in 2022, 2021 and 2020, respectively. The approximate annual gross rental receipts under noncancelable agreements with remaining terms in excess of one year as of December 31, 2022, are as follows (in thousands):

 

	Receipts
2023	$	4,066
2024	2,861
2025	2,253
2026	1,745
2027	1,108
2028 and thereafter	3,674
Total minimum future amounts	$	15,707

Lease Commitments

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, 2022
Operating lease cost	$	22,767
Finance lease cost:
Amortization of right-of-use asset	219
Interest on lease liability	291
Short-term lease cost	302
Variable lease cost	2,966
Sublease income	(73)
Total lease cost	$	26,472
Cash paid for amounts included in the measurement of operating lease liabilities	$	25,379
Cash paid for amounts included in the measurement of finance lease liabilities	337
Right-of-use asset obtained in exchange for new operating lease liabilities	7,832
Right-of-use asset obtained in exchange for new finance lease liabilities	—
Weighted average remaining lease term - operating leases	11.4 years
Weighted average remaining lease term - finance leases	38.0 years
Weighted average discount rate - operating leases	3.99		%
Weighted average discount rate - finance leases	3.43		%

(In thousands)	Payments
2023	$	21,494
2024	21,513
2025	20,453
2026	18,566
2027	17,584
2028 and thereafter	115,255
Total minimum future amounts	$	214,865
Impact of measuring the lease liability on a discounted basis	(48,127)
Total lease liability	$	166,738

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, $7.8 million and $8.7 million, in 2022, 2021 and 2020, respectively. The approximate annual gross rental receipts under noncancelable agreements with remaining terms in excess of one year as of December 31, 2022, are as follows (in thousands):

 

	Receipts
2023	$	4,066
2024	2,861
2025	2,253
2026	1,745
2027	1,108
2028 and thereafter	3,674
Total minimum future amounts	$	15,707

Lease Commitments

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, 2022
Operating lease cost	$	22,767
Finance lease cost:
Amortization of right-of-use asset	219
Interest on lease liability	291
Short-term lease cost	302
Variable lease cost	2,966
Sublease income	(73)
Total lease cost	$	26,472
Cash paid for amounts included in the measurement of operating lease liabilities	$	25,379
Cash paid for amounts included in the measurement of finance lease liabilities	337
Right-of-use asset obtained in exchange for new operating lease liabilities	7,832
Right-of-use asset obtained in exchange for new finance lease liabilities	—
Weighted average remaining lease term - operating leases	11.4 years
Weighted average remaining lease term - finance leases	38.0 years
Weighted average discount rate - operating leases	3.99		%
Weighted average discount rate - finance leases	3.43		%

(In thousands)	Payments
2023	$	21,494
2024	21,513
2025	20,453
2026	18,566
2027	17,584
2028 and thereafter	115,255
Total minimum future amounts	$	214,865
Impact of measuring the lease liability on a discounted basis	(48,127)
Total lease liability	$	166,738

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, $7.8 million and $8.7 million, in 2022, 2021 and 2020, respectively. The approximate annual gross rental receipts under noncancelable agreements with remaining terms in excess of one year as of December 31, 2022, are as follows (in thousands):

 

	Receipts
2023	$	4,066
2024	2,861
2025	2,253
2026	1,745
2027	1,108
2028 and thereafter	3,674
Total minimum future amounts	$	15,707