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

The following table presents the components of lease expense:

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

Lease cost:

Classification

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

 

(In thousands)

 

Operating lease cost

Occupancy

 

$

3,346

 

 

$

3,357

 

 

$

6,669

 

 

$

6,806

 

Operating lease cost for subleased/assigned properties

Other, net

 

 

544

 

 

 

635

 

 

 

1,041

 

 

 

1,171

 

Variable lease costs

Occupancy

 

 

2

 

 

 

7

 

 

 

8

 

 

 

23

 

Sublease income subleased/assigned properties

Other, net

 

 

(544

)

 

 

(635

)

 

 

(1,047

)

 

 

(1,171

)

Net lease cost

 

 

$

3,348

 

 

$

3,364

 

 

$

6,671

 

 

$

6,829

 

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

 

June 30, 2021

 

 

December 31, 2020

 

Weighted average remaining lease term (in years)

 

 

11.8

 

 

 

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 June 30, 2021:

 

(In thousands)

 

Remainder of 2021

$

5,956

 

2022

 

10,866

 

2023

 

10,626

 

2024

 

11,160

 

2025

 

11,152

 

2026 and thereafter

 

79,110

 

Total lease payments

 

128,870

 

Less: interest

 

37,605

 

Operating lease liabilities

$

91,265