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Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Additional Leases Information See below for additional information about the Company’s leases.

 

 

 

Three Months Ended

 

Six Months Ended

 

 

June 30,

 

June 30,

($ in thousands)

 

2022

 

2021

 

2022

 

2021

Supplemental Income Statement Information:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

 $

 

5,627

 

 

 

 $

 

6,337

 

 

 

 $

 

11,224

 

 

 

 $

 

13,491

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplemental Cash Flow Information:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net operating cash inflows/(outflows) for operating leases

 

 $

 

5,636

 

 

 

 $

 

(2,280

)

 

 

 $

 

(131

)

 

 

 $

 

(8,260

)

 

Right-of-use assets obtained in exchange for lease obligations (e.g. new leases and amendments commenced during the period)

 

 $

 

1,951

 

 

 

 $

 

57

 

 

 

 $

 

1,951

 

 

 

 $

 

378

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term - operating leases

 

 

 

13.09

 

years

 

 

 

13.62

 

years

 

 

 

13.09

 

years

 

 

 

13.62

 

years

Weighted-average discount rate - operating leases

 

 

 

3.51

 

%

 

 

 

3.52

 

 %

 

 

 

3.51

 

 %

 

 

 

3.52

 

%

Schedule of Future Sublease Income and Maturities of Our Operating Lease Liabilities

As of June 30, 2022, the future sublease income and maturities of our operating lease liabilities are as follows:

 

Fiscal year ended

 

Sublease Income

 

Operating Leases

Remainder of 2022

 

$

                               (405)

 

$

10,674

2023

 

 

                               (810)

 

 

22,116

2024

 

 

                               (810)

 

 

20,265

2025

 

 

                               (405)

 

 

17,744

2026

 

 

                                  —

 

 

16,727

Thereafter

 

 

                                  —

 

 

162,838

Total Payments

 

$

                            (2,430)

 

$

250,364

 

 

 

 

 

 

 

Less: Tenant improvement allowances

 

 

                            (2,122)

Less: Present value adjustment

 

 

                          (51,871)

Total

 

$

196,371