Leases

3 Months Ended

Mar. 31, 2022

The Company has operating leases for corporate and field offices, and certain equipment. The Company’s leases have remaining lease terms of less than 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 expenses were $22.6 million and $21.5 million for the three months ended March 31, 2022 and 2021, respectively.

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


	Three Months Ended March 31,
	2022		2021
Cash paid for operating lease liabilities	$	22,986	$	22,225
Right-of-use assets obtained in exchange for operating lease liabilities from new leases	$	12,805	$	3,501
Right-of-use assets obtained in exchange for operating lease liabilities from lease modifications or reassessments	$	7,584	$	4,221

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


	March 31, 2022		December 31, 2021
Weighted average remaining lease term for operating leases	3.8 years		3.9 years
Weighted average discount rate for operating leases	2.3	%	2.3	%

Future minimum lease payments under non-cancellable leases as of March 31, 2022 were as follows (in thousands):


2022 (excluding the three months ended March 31, 2022)	$	69,535
2023	74,748
2024	57,197
2025	35,631
2026	22,860
Thereafter	14,247
Less: Imputed interest	(11,529)
Present value of operating lease liabilities (a)	$	262,689

(a) Includes current portion of $86.3 million for operating leases.

As of March 31, 2022, the Company had additional future minimum lease obligations totaling $6.0 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.