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Leases (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Components of ROU Assets and Lease Liabilities
The following table presents the components of the right of use (ROU) assets and lease liabilities in the consolidated statements of financial condition by lease type at December 31, 2021 and 2020.
December 31,
20212020
(in thousands)
ROU assets:
Operating leases $258,714 $251,293 
Finance leases403 760 
Total$259,117 $252,053 
Lease liabilities:
Operating leases $282,339 $275,248 
Finance leases767 1,427 
Total$283,106 $276,675 
Components of Total Lease Cost, Supplemental Cash Flow, and Supplemental Information
The following table presents the components by lease type, of total lease cost recognized in the consolidated statements of income for the years ended December 31, 2021, 2020, and 2019:
202120202019
(in thousands)
Finance lease cost:
Amortization of ROU assets$378 $363 $291 
Interest on lease liabilities91 146 191 
Operating lease cost34,842 36,094 34,175 
Short-term lease cost700 783 410 
Variable lease cost3,417 4,296 3,573 
Sublease income(3,044)(2,520)(3,422)
Total lease cost (included in net occupancy and equipment expense)$36,384 $39,162 $35,218 
The following table presents supplemental cash flow information related to leases for the years ended December 31, 2021, 2020, and 2019:
202120202019
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$35,173 $35,943 $34,380 
Operating cash flows from finance leases92 146 192 
Financing cash flows from finance leases681 612 492 
The following table presents supplemental information related to leases at December 31, 2021 and 2020:
December 31,
20212020
Weighted-average remaining lease term
Operating leases11.7 years12.3 years
Finance leases1.0 year2.0 years
Weighted-average discount rate
Operating leases3.28 %3.56 %
Finance leases7.24 %7.45 %
Sales-type Leases
The following table presents a maturity analysis of lessor and lessee arrangements outstanding as of December 31, 2021:
LessorLessee
Direct Financing and Sales-Type LeasesOperating LeasesFinance Leases
(in thousands)
2022$224,840 $35,629 $773 
2023198,546 33,461 16 
2024161,704 31,718 5 
2025116,715 30,403 3 
202669,691 29,375 — 
Thereafter33,611 185,226 — 
Total lease payments805,107 345,812 797 
Less: present value discount(57,311)(63,473)(30)
Total $747,796 $282,339 $767 
Direct Financing Leases
The following table presents a maturity analysis of lessor and lessee arrangements outstanding as of December 31, 2021:
LessorLessee
Direct Financing and Sales-Type LeasesOperating LeasesFinance Leases
(in thousands)
2022$224,840 $35,629 $773 
2023198,546 33,461 16 
2024161,704 31,718 5 
2025116,715 30,403 3 
202669,691 29,375 — 
Thereafter33,611 185,226 — 
Total lease payments805,107 345,812 797 
Less: present value discount(57,311)(63,473)(30)
Total $747,796 $282,339 $767 
Finance Leases Maturity
The following table presents a maturity analysis of lessor and lessee arrangements outstanding as of December 31, 2021:
LessorLessee
Direct Financing and Sales-Type LeasesOperating LeasesFinance Leases
(in thousands)
2022$224,840 $35,629 $773 
2023198,546 33,461 16 
2024161,704 31,718 5 
2025116,715 30,403 3 
202669,691 29,375 — 
Thereafter33,611 185,226 — 
Total lease payments805,107 345,812 797 
Less: present value discount(57,311)(63,473)(30)
Total $747,796 $282,339 $767 
Operating Lease Maturity
The following table presents a maturity analysis of lessor and lessee arrangements outstanding as of December 31, 2021:
LessorLessee
Direct Financing and Sales-Type LeasesOperating LeasesFinance Leases
(in thousands)
2022$224,840 $35,629 $773 
2023198,546 33,461 16 
2024161,704 31,718 5 
2025116,715 30,403 3 
202669,691 29,375 — 
Thereafter33,611 185,226 — 
Total lease payments805,107 345,812 797 
Less: present value discount(57,311)(63,473)(30)
Total $747,796 $282,339 $767