XML 44 R20.htm IDEA: XBRL DOCUMENT v3.22.4
Leases
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases Leases
All of the Company's leases qualify as operating leases and consist primarily of leases for office facilities, which have remaining initial lease terms ranging from 0.2 to 7.3 years and a weighted average remaining lease term of 5.8 years. The Company has options to renew some of its leases for periods ranging from 3.0 to 10.0 years, depending on the lease. None of the Company's renewal options were considered reasonably assured of being exercised and, therefore, were excluded from the initial lease term used to determine the Company's right-of-use asset and lease liability. The Company's right-of-use asset, recorded in other assets, and lease liability, recorded in other liabilities on the Consolidated Balance Sheets, at December 31, 2022 were $64.5 million and $77.1 million, respectively. The weighted average discount rate used to measure the Company's lease liability was 3.0% at December 31, 2022.
Lease expense totaled $14.0 million, $5.6 million and $5.1 million for fiscal years 2022, 2021 and 2020, respectively. Cash payments relating to operating leases during 2022 were $13.3 million.
Lease liability maturities as of December 31, 2022 were as follows:
Fiscal Year
Amount
(in thousands)
2023$15,383 
202415,190 
202514,466 
202612,578 
202711,919 
Thereafter14,792 
Total lease payments84,328 
Less: Imputed interest7,191 
Present value of lease liabilities$77,137