Leases

3 Months Ended

Mar. 31, 2022

The Company’s operating leases consist of office facilities, office equipment, and automobiles, and the Company’s finance lease consists of computer equipment. The finance lease is not material for the periods presented. As of March 31, 2022, the Company’s leases have remaining terms of less than one year to nine years, some of which include one or more options to renew, with renewal terms from one year to ten years and some of which include options to terminate the leases from less than one year to five years.

For contracts with lease and non‑lease components, the Company has elected not to allocate the contract consideration, and account for the lease and non-lease components as a single lease component. Payments under the Company’s lease arrangements are primarily fixed, however, certain lease agreements contain variable payments, which are expensed as incurred and not included in the operating lease assets and liabilities. Variable lease cost may include common area maintenance, property taxes, utilities, and fluctuations in rent due to a change in an index or rate. The Company has elected not to recognize a right‑of‑use asset or lease liability for short‑term leases (leases with a term of twelve months or less). Short‑term leases are recognized in the consolidated statements of operations on a straight‑line basis over the lease term.

The components of operating lease cost reflected in the consolidated statements of operations were as follows:


	Three Months Ended
	March 31,
	2022		2021
Operating lease cost (1)	$	5,753	$	4,543
Variable lease cost	1,273		968
Short-term lease cost	5		4
Total operating lease cost	$	7,031	$	5,515

(1)Operating lease cost includes rent cost related to operating leases for office facilities of $5,553 and $4,351 for the three months ended March 31, 2022 and 2021, respectively.

Other information related to leases was as follows:


	Three Months Ended
	March 31,

	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	5,114	$	4,686
Right-of-use assets obtained in exchange for new operating lease liabilities (1)	$	2,876	$	614

(1)Right‑of‑use assets obtained in exchange for new operating lease liabilities does not include the impact from acquisitions of $1,237 and $192 for the three months ended March 31, 2022 and 2021, respectively.

The weighted average remaining lease term for operating leases was 4.1 years as of March 31, 2022 and December 31, 2021. The weighted average discount rate was 2.6% and 2.5% as of March 31, 2022 and December 31, 2021, respectively.

Maturities of operating lease liabilities are as follows:


	March 31, 2022
Remainder of 2022	$	14,267
2023	14,311
2024	9,624
2025	6,911
2026	4,440
Thereafter	6,146
Total future lease payments	55,699
Less: Imputed interest	(3,829)
Total operating lease liabilities	$	51,870

As of March 31, 2022, the Company had additional operating lease minimum lease payments of $956 for executed leases that have not yet commenced, primarily for office locations.

Supplemental balance sheet information related to the financing lease was as follows:


	March 31, 2022		December 31, 2021


Property and equipment	$	471	$	484
Accumulated depreciation	(471)		(453)
Property and equipment, net	$	—	$	31

Accruals and other current liabilities	$	48	$	98

Total financing lease liabilities	$	48	$	98

Leases