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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Summary of Lease Cost

The Company’s lease cost is recognized on a straight-line basis over the lease term and is primarily included within indirect and selling expenses on the consolidated statements of comprehensive income. Lease cost consisted of the following:

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

Operating lease cost

 

$

37,889

 

 

$

35,469

 

 

$

37,874

 

Finance lease cost - amortization of right-of-use assets

 

 

598

 

 

 

 

 

 

 

Finance lease cost - interest

 

 

179

 

 

 

 

 

 

 

Short-term lease cost

 

 

509

 

 

 

453

 

 

 

1,421

 

Variable lease cost

 

 

146

 

 

 

43

 

 

 

53

 

Sublease income

 

 

(92

)

 

 

 

 

 

 

Total lease cost

 

$

39,229

 

 

$

35,965

 

 

$

39,348

 

Summary of Future Minimum Lease Payments Under Non-Cancellable Operating and Finance Leases

Future minimum lease payments under non-cancellable operating and finance leases as of December 31, 2022 were as follows:

 

 

Operating

 

 

Finance

 

December 31, 2023

 

$

21,441

 

 

$

2,967

 

December 31, 2024

 

 

26,863

 

 

 

2,967

 

December 31, 2025

 

 

24,790

 

 

 

2,967

 

December 31, 2026

 

 

21,389

 

 

 

2,967

 

December 31, 2027

 

 

15,294

 

 

 

2,967

 

Thereafter

 

 

138,885

 

 

 

5,933

 

Total future minimum lease payments

 

 

248,662

 

 

 

20,768

 

Less: Interest

 

 

(47,106

)

 

 

(2,271

)

Total operating lease liabilities

 

$

201,556

 

 

$

18,497

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

December 31, 2021

 

Operating lease liabilities - current

 

$

19,305

 

 

$

34,901

 

Operating lease liabilities - non-current

 

 

182,251

 

 

 

191,805

 

Total operating lease liabilities

 

$

201,556

 

 

$

226,706

 

 

 

 

 

 

 

 

Finance lease liabilities - current

 

$

2,381

 

 

$

 

Finance lease liabilities - non-current

 

 

16,116

 

 

 

 

Total finance lease liabilities

 

$

18,497

 

 

$

 

Summary of Other Information Related to Operating and Finance Leases

Other information related to operating and finance leases is as follows:

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

40,123

 

 

$

28,932

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

13,906

 

 

$

90,046

 

Property and equipment obtained in exchange for finance lease liabilities

 

$

18,319

 

 

 

 

Weighted-average remaining lease term - operating leases

 

 

 

 

 

 

Operating leases

 

 

11.7

 

 

 

11.4

 

Finance leases

 

 

7.0

 

 

 

 

Weighted-average discount rate - operating leases

 

 

 

 

 

 

Operating leases

 

 

3.3

%

 

 

3.2

%

Finance leases

 

 

3.4

%