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Leases (Tables)
9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Schedule of Components of Lease Expense

The following table presents the components of lease expense:

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

Lease cost:

Classification

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

 

(In thousands)

 

Operating lease cost

Occupancy

 

$

3,269

 

 

$

3,432

 

 

$

9,939

 

 

$

10,238

 

Operating lease cost for subleased/assigned properties

Other, net

 

 

507

 

 

 

609

 

 

 

1,548

 

 

 

1,780

 

Variable lease costs

Occupancy

 

 

2

 

 

 

3

 

 

 

9

 

 

 

26

 

Sublease income subleased/assigned properties

Other, net

 

 

(512

)

 

 

(605

)

 

 

(1,559

)

 

 

(1,776

)

Net lease cost

 

 

$

3,266

 

 

$

3,439

 

 

$

9,937

 

 

$

10,268

 

Summary of Weighted Average Remaining Lease Term and Discount Rate

The weighted average remaining lease term (in years) and weighted average discount rate are as follows:

 

 

 

As of

 

Lease Term and Discount Rate

 

September 30, 2021

 

 

December 31, 2020

 

Weighted average remaining lease term (in years)

 

 

11.6

 

 

 

12.3

 

Weighted average discount rate

 

 

5.9

%

 

 

5.9

%

Schedule of Maturity of Lease Liabilities

The following table presents the maturity of lease liabilities as of September 30, 2021:

 

(In thousands)

 

Remainder of 2021

$

3,049

 

2022

 

11,031

 

2023

 

10,790

 

2024

 

11,252

 

2025

 

11,079

 

2026 and thereafter

 

79,031

 

Total lease payments

 

126,232

 

Less: interest

 

36,269

 

Operating lease liabilities

$

89,963