Leases

3 Months Ended

Mar. 31, 2022

3. Leases

Amounts reported on the Company’s Unaudited Condensed Consolidated Balance Sheets for operating leases were as follows:

	March 31, 2022		December 31, 2021
	(Amounts in Thousands)
Operating lease assets, net	$	41,523	$	36,048

Short-term operating lease liabilities (in accrued expenses)		10,766		9,774
Long-term operating lease liabilities		39,049		32,859
Total operating lease liabilities	$	49,815	$	42,633

Lease Costs

Components of lease costs were reported in general and administrative expenses in the Company’s Unaudited Condensed Consolidated Statements of Income as follows:

	For the Three Months Ended March 31, (Amounts in Thousands)
	2022			2021
Operating lease costs	$	2,801		$	2,777
Short-term lease costs		751			181
Total lease costs		3,552			2,958
Less: sublease income		(177	)		(151	)
Total lease costs, net	$	3,375		$	2,807

Lease Term and Discount Rate

Weighted average remaining lease terms and discount rates were as follows:

	March 31, 2022			December 31, 2021
Operating leases:
Weighted average remaining lease term		6.27			6.39
Weighted average discount rate		3.80	%		3.91	%

Maturity of Lease Liabilities

Remaining operating lease payments as of March 31, 2022 were as follows:

	Operating Leases
	(Amounts in Thousands)
Due in the 12-month period ended March 31,
2023	$	12,329
2024		10,706
2025		8,476
2026		5,493
2027		4,574
Thereafter		14,748
Total future minimum rental commitments		56,326
Less: Imputed interest		(6,511	)
Total lease liabilities	$	49,815

Supplemental cash flows information

	For the Three Months Ended March 31,
	(Amounts in Thousands)
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,194	$	2,517

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	9,199	$	2,675