LEASES (Tables)

3 Months Ended

Mar. 31, 2022

LEASES

Summary of components of lease expense

The components of lease expense were as follows (in thousands):

	Three months ended March 31, 2022		Three months ended March 31, 2021
Operating lease cost:
Operating lease cost	$	6,142	$	4,225
Short-term lease cost		509		408
Variable lease cost		804		1,065
Total operating lease cost	$	7,455	$	5,698
Finance lease cost:
Amortization of right-of-use asset	$	797	$	574
Variable costs		248		196
Interest costs		102		-
Total finance lease cost	$	1,147	$	770

Summary of weighted-average remaining lease term and discount rate

The weighted average remaining lease terms and discount rates as of March 31, 2022 and December 31, 2021 are noted in the table below:

	March 31, 2022		December 31, 2021
Weighted-average remaining lease term
Operating leases		11.3 years		11.3 years
Financing leases		9.6 years		9.5 years
Weighted-average discount rate
Operating leases		5.2%		5.4%
Financing leases		6.2%		6.4%

Summary of maturities of operating lease liabilities

Maturities of lease liabilities as of March 31, 2022 were as follows (in thousands):

	Operating Leases		Financing Leases
2022 (excluding the three months ended March 31, 2022)	$	16,310	$	1,092
2023		18,466		1,463
2024		16,996		1,354
2025		14,156		1,132
2026		10,047		532
Thereafter		68,363		3,145
Total lease payments		144,338		8,718
Less imputed interest		(42,399)		(2,211)
Total	$	101,939	$	6,507

Maturities of lease liabilities as of December 31, 2021 were as follows (in thousands):

	Operating Leases		Financing Leases
2022	$	20,474	$	1,269
2023		17,941		1,278
2024		16,634		1,169
2025		13,640		975
2026		9,610		484
Thereafter		65,902		3,145
Total lease payments		144,201		8,320
Less imputed interest		(42,333)		(2,268)
Total	$	101,868	$	6,052

Summary of maturities of finance lease liabilities

	Operating Leases		Financing Leases
2022 (excluding the three months ended March 31, 2022)	$	16,310	$	1,092
2023		18,466		1,463
2024		16,996		1,354
2025		14,156		1,132
2026		10,047		532
Thereafter		68,363		3,145
Total lease payments		144,338		8,718
Less imputed interest		(42,399)		(2,211)
Total	$	101,939	$	6,507

	Operating Leases		Financing Leases
2022	$	20,474	$	1,269
2023		17,941		1,278
2024		16,634		1,169
2025		13,640		975
2026		9,610		484
Thereafter		65,902		3,145
Total lease payments		144,201		8,320
Less imputed interest		(42,333)		(2,268)
Total	$	101,868	$	6,052

Schedule of maturities of future undiscounted lease payments

2022 (excluding the three months ended March 31, 2022)	$	4,042
2023		4,807
2024		4,406
2025		4,288
2026		3,916
Thereafter		10,455
Total future lease payments	$	31,914