Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.22.4
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Expense and Other Information Related to Leases
The components of lease expense were as follows (in thousands):
For the Year Ended December 31,
2022 2021 2020
Finance lease cost:
Amortization of right-of-use assets $ 15,873  $ 13,358  $ 10,151 
Interest on lease liabilities 1,127  958  890 
Operating lease cost 31,966  26,906  15,592 
Short-term lease cost 2,602  4,819  689 
Variable lease cost 9,246  7,261  4,135 
Sublease income (3,780) (1,095) (782)
Total lease cost $ 57,034  $ 52,207  $ 30,675 
Other information related to leases was as follows (in thousands):
For the Year Ended December 31,
2022 2021 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases $ 34,233  $ 28,230  $ 15,756 
Operating cash flows from finance leases 896  952  854 
Financing cash flows from finance leases 14,146  12,352  10,578 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases 38,543  41,068  2,071 
Finance leases 21,030  11,055  4,265 
Weighted average remaining lease term (years):
Operating leases 5.26 6.15 7.24
Finance leases 2.86 2.47 2.59
Weighted average discount rate:
Operating leases 3.8  % 3.8  % 4.2  %
Finance leases 3.7  % 3.1  % 4.3  %
Schedule of Future Minimum Lease Payments Under Non-Cancellable Leases
Future minimum lease commitments under non-cancellable leases as of December 31, 2022 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance leases
2023 $ 35,769  $ 4,338  $ 31,431  $ 12,229 
2024 29,269  2,774  26,495  8,897 
2025 25,158  1,459  23,699  6,554 
2026 21,815  975  20,840  2,461 
2027 12,699  838  11,861  89 
Thereafter 21,060  —  21,060  2 
Total future lease payments 145,770  10,384  135,386  30,232 
Less: Amount representing interest (13,695) —  (13,695) (1,486)
Present value of future payments 132,075  10,384  121,691  28,746 
Less: Amount for tenant incentives —  —  —  — 
Revised Present value of future payments 132,075  10,384  121,691  28,746 
Less: Current portion (31,307) (4,338) (26,969) (11,444)
Long term portion $ 100,768  $ 6,046  $ 94,722  $ 17,302 
Schedule of Future Minimum Lease Payments Under Non-Cancellable Leases
Future minimum lease commitments under non-cancellable leases as of December 31, 2022 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance leases
2023 $ 35,769  $ 4,338  $ 31,431  $ 12,229 
2024 29,269  2,774  26,495  8,897 
2025 25,158  1,459  23,699  6,554 
2026 21,815  975  20,840  2,461 
2027 12,699  838  11,861  89 
Thereafter 21,060  —  21,060  2 
Total future lease payments 145,770  10,384  135,386  30,232 
Less: Amount representing interest (13,695) —  (13,695) (1,486)
Present value of future payments 132,075  10,384  121,691  28,746 
Less: Amount for tenant incentives —  —  —  — 
Revised Present value of future payments 132,075  10,384  121,691  28,746 
Less: Current portion (31,307) (4,338) (26,969) (11,444)
Long term portion $ 100,768  $ 6,046  $ 94,722  $ 17,302