Leases

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Leases

LEASES

The Company has operating leases for corporate offices under non-cancelable operating leases with various expiration dates. There are no finance leases. The leases have remaining terms of 1 to 14 years. Options to extend for up to 10 years have not been included because they are not reasonably certain to be exercised.

The components of lease expense were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
in thousands	2022		2021		2022		2021
Operating lease cost	$	7,341	$	5,388	$	22,254	$	16,513
Variable and short-term lease cost	2,678		2,031		7,098		5,498

Other information related to leases was as follows:

	As of September 30,		As of December 31,
	2022		2021
Weighted average remaining lease term	10.9 years		11.9 years
Weighted average discount rate	2.08	%	2.07	%

As of September 30, 2022, the maturities of lease liabilities under non-cancelable operating leases, net of lease incentives, were as follows:

	As of September 30,
in thousands	2022
Remainder of 2022	3,087
2023	14,190
2024	28,241
2025	30,396
2026	31,038
Thereafter	203,591
Total minimum lease payments	$	310,543
Less: imputed interest	(35,138)
Total	$	275,405