Lease Commitments

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Lease Commitments

Lease Commitments

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

	Year Ended
(In thousands)	December 31, 2024		December 31, 2023		December 31, 2022
Operating lease cost	$	23,446	$	22,337	$	22,767
Finance lease cost:
Amortization of right-of-use asset	249		219		219
Interest on lease liability	366		290		291
Short-term lease cost	111		41		302
Variable lease cost	2,865		2,391		2,966
Sublease income	(80)		(70)		(73)
Total lease cost	$	26,957	$	25,208	$	26,472

	Year Ended
(In thousands)	December 31, 2024			December 31, 2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	24,940		$	23,599
Cash paid for amounts included in the measurement of finance lease liabilities	349			337
Right-of-use asset obtained in exchange for new operating lease liabilities	9,538			14,595
Right-of-use asset obtained in exchange for new finance lease liabilities	1,222			1,408
Weighted average remaining lease term - operating leases	9.87 years			10.6 years
Weighted average remaining lease term - finance leases	36.49 years			37.4 years
Weighted average discount rate - operating leases	4.30		%	4.12		%
Weighted average discount rate - finance leases	3.93		%	3.81		%

(In thousands)	Payments
2025	$	25,408
2026	23,020
2027	21,544
2028	19,601
2029	17,407
2030 and thereafter	93,401
Total minimum future amounts	$	200,381
Impact of measuring the lease liability on a discounted basis	(46,771)
Total lease liability	$	153,610

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 $5.8 million, $6.3 million and $7.8 million, in 2024, 2023 and 2022, respectively. The approximate annual gross rental receipts under noncancelable agreements with remaining terms in excess of one year as of December 31, 2024, are as follows (in thousands):

 

	Receipts
2025	$	3,717
2026	2,997
2027	2,245
2028	1,131
2029	746
2030 and thereafter	3,612
Total minimum future amounts	$	14,448

Lease Commitments

Lease Commitments

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

	Year Ended
(In thousands)	December 31, 2024		December 31, 2023		December 31, 2022
Operating lease cost	$	23,446	$	22,337	$	22,767
Finance lease cost:
Amortization of right-of-use asset	249		219		219
Interest on lease liability	366		290		291
Short-term lease cost	111		41		302
Variable lease cost	2,865		2,391		2,966
Sublease income	(80)		(70)		(73)
Total lease cost	$	26,957	$	25,208	$	26,472

	Year Ended
(In thousands)	December 31, 2024			December 31, 2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	24,940		$	23,599
Cash paid for amounts included in the measurement of finance lease liabilities	349			337
Right-of-use asset obtained in exchange for new operating lease liabilities	9,538			14,595
Right-of-use asset obtained in exchange for new finance lease liabilities	1,222			1,408
Weighted average remaining lease term - operating leases	9.87 years			10.6 years
Weighted average remaining lease term - finance leases	36.49 years			37.4 years
Weighted average discount rate - operating leases	4.30		%	4.12		%
Weighted average discount rate - finance leases	3.93		%	3.81		%

(In thousands)	Payments
2025	$	25,408
2026	23,020
2027	21,544
2028	19,601
2029	17,407
2030 and thereafter	93,401
Total minimum future amounts	$	200,381
Impact of measuring the lease liability on a discounted basis	(46,771)
Total lease liability	$	153,610

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 $5.8 million, $6.3 million and $7.8 million, in 2024, 2023 and 2022, respectively. The approximate annual gross rental receipts under noncancelable agreements with remaining terms in excess of one year as of December 31, 2024, are as follows (in thousands):

 

	Receipts
2025	$	3,717
2026	2,997
2027	2,245
2028	1,131
2029	746
2030 and thereafter	3,612
Total minimum future amounts	$	14,448

Lease Commitments

Lease Commitments

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

	Year Ended
(In thousands)	December 31, 2024		December 31, 2023		December 31, 2022
Operating lease cost	$	23,446	$	22,337	$	22,767
Finance lease cost:
Amortization of right-of-use asset	249		219		219
Interest on lease liability	366		290		291
Short-term lease cost	111		41		302
Variable lease cost	2,865		2,391		2,966
Sublease income	(80)		(70)		(73)
Total lease cost	$	26,957	$	25,208	$	26,472

	Year Ended
(In thousands)	December 31, 2024			December 31, 2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	24,940		$	23,599
Cash paid for amounts included in the measurement of finance lease liabilities	349			337
Right-of-use asset obtained in exchange for new operating lease liabilities	9,538			14,595
Right-of-use asset obtained in exchange for new finance lease liabilities	1,222			1,408
Weighted average remaining lease term - operating leases	9.87 years			10.6 years
Weighted average remaining lease term - finance leases	36.49 years			37.4 years
Weighted average discount rate - operating leases	4.30		%	4.12		%
Weighted average discount rate - finance leases	3.93		%	3.81		%

(In thousands)	Payments
2025	$	25,408
2026	23,020
2027	21,544
2028	19,601
2029	17,407
2030 and thereafter	93,401
Total minimum future amounts	$	200,381
Impact of measuring the lease liability on a discounted basis	(46,771)
Total lease liability	$	153,610

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 $5.8 million, $6.3 million and $7.8 million, in 2024, 2023 and 2022, respectively. The approximate annual gross rental receipts under noncancelable agreements with remaining terms in excess of one year as of December 31, 2024, are as follows (in thousands):

 

	Receipts
2025	$	3,717
2026	2,997
2027	2,245
2028	1,131
2029	746
2030 and thereafter	3,612
Total minimum future amounts	$	14,448