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Leases | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Leases | Leases The Company has operating leases for corporate offices and data centers with initial lease terms ranging from one to 10 years. The following is a summary of lease right-of-use assets and lease liabilities related to operating leases as of December 31, 2022 and 2021:
|  | December 31,
|  | 2022 |  | 2021
|  | (in thousands)
Operating lease right-of-use assets |  | $ | 24,933 |  |  | $ | 20,496 |
Operating lease liabilities |  | $ | 27,943 |  |  | $ | 24,331 |
Activity related to the Company’s leases for the years ended December 31, 2022, 2021 and 2020 is as follows:
|  | Year Ended
|  | December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (in thousands)
Operating lease expense included as a component of occupancy expense on the accompanying consolidated statements of income |  | $ | 10,842 |  |  | $ | 10,624 |  |  | $ | 10,439 |
Cash paid for amounts included in the measurement of operating lease liability |  | $ | 11,940 |  |  | $ | 11,736 |  |  | $ | 12,060 |
At December 31, 2022 and 2021, the weighted average borrowing rate and weighted average remaining lease term are as follows:
|  | December 31,
|  | 2022 |  | 2021
Weighted average borrowing rate |  | 2.9 | % |  | 2.8 | %
Weighted average remaining lease term (years) |  | 3.3 |  | 4.4
The following table presents the future minimum lease payments and the maturity of lease liabilities as of December 31, 2022:
|  | Amount
|  | (in thousands)
2023 |  | $ | 11,913 |
2024 |  | 8,124 |
2025 |  | 3,508 |
2026 |  | 2,833 |
2027 |  | 2,841 |
Thereafter |  | 152 |
Total future lease payments |  | 29,371 |
Less imputed interest |  | (1,428) |
Lease liability |  | $ | 27,943 |
As of December 31, 2022 and 2021, one U.S. lease was secured by a $0.5 million letter of credit issued under the Company’s Credit Facility (as defined in Note 17 – Commitments and Contingencies). As of December 31 2020, this lease was secured by a letter of credit in the amount of $1.2 million, which was guaranteed by Refinitiv and during the year ended December 31, 2021, was replaced with the letter of credit issued under the Company’s Credit Facility.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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