Leases

12 Months Ended

Dec. 31, 2021

Note F—Leases

The Company has operating leases for corporate and field offices, and certain equipment. The Company’s leases have remaining lease terms of 1 year to 8 years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the leases within 1 year. Operating lease expense was $86.6 million, $81.5 million and $77.7 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Supplemental cash flow information related to leases consisted of the following (in thousands):


	Year Ended December 31,
	2021		2020		2019
Cash paid for operating lease liabilities	$	91,253	$	84,569	$	78,152
Right-of-use assets obtained in exchange for operating lease liabilities from new leases	$	20,038	$	37,786	$	32,170
Right-of-use assets obtained in exchange for operating lease liabilities from lease modifications or reassessments	$	31,433	$	64,221	$	32,122

Supplemental balance sheet information related to leases consisted of the following:


	Year Ended December 31,
	2021		2020		2019
Weighted average remaining lease term for operating leases	3.9 years		4.5 years		4.8 years
Weighted average discount rate for operating leases	2.3	%	2.6	%	3.0	%

Future minimum lease payments under non-cancellable leases as of December 31, 2021, were as follows (in thousands):


2022	$	88,785
2023	69,527
2024	53,289
2025	32,354
2026	19,905
Thereafter	13,639
Less: Imputed interest	(12,421)
Present value of operating lease liabilities (a)	$	265,078

(a) Includes current portion of $83.8 million for operating leases.

As of December 31, 2021, the Company had additional future minimum lease obligations totaling $10.7 million under executed operating lease contracts that had not yet commenced. These operating leases include agreements for corporate and field office facilities with lease terms of 1 to 6 years.