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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Components of Lease Expense

The following table presents the components of lease expense for the years ended December 31, 2022, 2021 and 2020:

 

 

 

 

Year Ended December 31,

 

Lease cost:

 

Classification

 

2022

 

 

2021

 

 

2020

 

 

 

 

 

(In thousands)

 

Operating lease cost

 

Occupancy

 

$

13,015

 

 

$

13,202

 

 

$

13,455

 

Operating lease cost for subleased/assigned properties

 

Other, net

 

 

469

 

 

 

2,054

 

 

 

2,404

 

Variable lease costs

 

Occupancy

 

 

96

 

 

 

13

 

 

 

26

 

Sublease income for subleased/assigned properties

 

Other, net

 

 

(405

)

 

 

(2,079

)

 

 

(2,420

)

Net lease cost

 

 

 

$

13,175

 

 

$

13,190

 

 

$

13,465

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Weighted Average Remaining Lease Term and Discount Rate

The weighted average remaining lease term and weighted average discount rate are as follows:

 

 

As of December 31,

 

Lease Term and Discount Rate

 

2022

 

 

2021

 

Weighted average remaining lease term (in years)

 

 

10.6

 

 

 

11.5

 

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 December 31, 2022:

 

(In thousands)

 

2023

$

11,001

 

2024

 

11,481

 

2025

 

11,289

 

2026

 

10,790

 

2027

 

8,464

 

2028 and thereafter

 

59,630

 

Total lease payments

 

112,655

 

Less: imputed interest

 

29,979

 

Present value of lease liabilities

$

82,676