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Leases
 9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Leases Leases
The Company’s operating leases consist of office facilities, office equipment, and automobiles, and the Company’s finance lease consists of computer equipment. The finance lease is not material for the periods presented and it expired during the second quarter of 2022. As of September 30, 2022, the Company’s leases have remaining terms of less than one year to eight years, some of which include one or more options to renew, with renewal terms from one year to ten years and some of which include options to terminate the leases from less than one year to five years.
For contracts with lease and non‑lease components, the Company has elected not to allocate the contract consideration, and account for the lease and non-lease components as a single lease component. Payments under the Company’s lease arrangements are primarily fixed, however, certain lease agreements contain variable payments, which are expensed as incurred and not included in the operating lease assets and liabilities. Variable lease cost may include common area maintenance, property taxes, utilities, and fluctuations in rent due to a change in an index or rate. The Company has elected not to recognize a right‑of‑use asset or lease liability for short‑term leases (leases with a term of twelve months or less). Short‑term leases are recognized in the consolidated statements of operations on a straight‑line basis over the lease term.
The components of operating lease cost reflected in the consolidated statements of operations were as follows:
Three Months EndedNine Months Ended
September 30,September 30,
2022202120222021
Operating lease cost (1)
$4,703 $4,836 $15,651 $14,224 
Variable lease cost1,115 1,082 3,356 2,970 
Short-term lease cost6 4 16 15 
Total operating lease cost$5,824 $5,922 $19,023 $17,209 
(1)Operating lease cost includes rent cost related to operating leases for office facilities of $4,553 and $4,619 for the three months ended September 30, 2022 and 2021, respectively, and $15,120 and $13,588 for the nine months ended September 30, 2022 and 2021, respectively.
Other information related to leases was as follows:
Nine Months Ended
September 30,
20222021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$14,295 $14,602 
Right-of-use assets obtained in exchange for new operating lease liabilities (1)
$7,763 $5,286 
(1)Right‑of‑use assets obtained in exchange for new operating lease liabilities does not include the impact from acquisitions of $1,237 and $12,074 for the nine months ended September 30, 2022 and 2021, respectively.
The weighted average remaining lease term for operating leases was 3.9 years and 4.1 years as of September 30, 2022 and December 31, 2021, respectively. The weighted average discount rate was 3.2% and 2.5% as of September 30, 2022 and December 31, 2021, respectively.
Maturities of operating lease liabilities are as follows:
September 30, 2022
Remainder of 2022$4,552 
202314,841 
20249,906 
20256,918 
20264,402 
Thereafter6,238 
Total future lease payments46,857 
Less: Imputed interest(3,003)
Total operating lease liabilities$43,854 
As of September 30, 2022, the Company had additional operating lease minimum lease payments of $3,878 for executed leases that have not yet commenced, primarily for office locations.
Supplemental balance sheet information related to the financing lease was as follows:
December 31, 2021
Property and equipment$484 
Accumulated depreciation(453)
Property and equipment, net$31 
Total financing lease liabilities included in Accruals and other current liabilities
$98 
Leases Leases
The Company’s operating leases consist of office facilities, office equipment, and automobiles, and the Company’s finance lease consists of computer equipment. The finance lease is not material for the periods presented and it expired during the second quarter of 2022. As of September 30, 2022, the Company’s leases have remaining terms of less than one year to eight years, some of which include one or more options to renew, with renewal terms from one year to ten years and some of which include options to terminate the leases from less than one year to five years.
For contracts with lease and non‑lease components, the Company has elected not to allocate the contract consideration, and account for the lease and non-lease components as a single lease component. Payments under the Company’s lease arrangements are primarily fixed, however, certain lease agreements contain variable payments, which are expensed as incurred and not included in the operating lease assets and liabilities. Variable lease cost may include common area maintenance, property taxes, utilities, and fluctuations in rent due to a change in an index or rate. The Company has elected not to recognize a right‑of‑use asset or lease liability for short‑term leases (leases with a term of twelve months or less). Short‑term leases are recognized in the consolidated statements of operations on a straight‑line basis over the lease term.
The components of operating lease cost reflected in the consolidated statements of operations were as follows:
Three Months EndedNine Months Ended
September 30,September 30,
2022202120222021
Operating lease cost (1)
$4,703 $4,836 $15,651 $14,224 
Variable lease cost1,115 1,082 3,356 2,970 
Short-term lease cost6 4 16 15 
Total operating lease cost$5,824 $5,922 $19,023 $17,209 
(1)Operating lease cost includes rent cost related to operating leases for office facilities of $4,553 and $4,619 for the three months ended September 30, 2022 and 2021, respectively, and $15,120 and $13,588 for the nine months ended September 30, 2022 and 2021, respectively.
Other information related to leases was as follows:
Nine Months Ended
September 30,
20222021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$14,295 $14,602 
Right-of-use assets obtained in exchange for new operating lease liabilities (1)
$7,763 $5,286 
(1)Right‑of‑use assets obtained in exchange for new operating lease liabilities does not include the impact from acquisitions of $1,237 and $12,074 for the nine months ended September 30, 2022 and 2021, respectively.
The weighted average remaining lease term for operating leases was 3.9 years and 4.1 years as of September 30, 2022 and December 31, 2021, respectively. The weighted average discount rate was 3.2% and 2.5% as of September 30, 2022 and December 31, 2021, respectively.
Maturities of operating lease liabilities are as follows:
September 30, 2022
Remainder of 2022$4,552 
202314,841 
20249,906 
20256,918 
20264,402 
Thereafter6,238 
Total future lease payments46,857 
Less: Imputed interest(3,003)
Total operating lease liabilities$43,854 
As of September 30, 2022, the Company had additional operating lease minimum lease payments of $3,878 for executed leases that have not yet commenced, primarily for office locations.
Supplemental balance sheet information related to the financing lease was as follows:
December 31, 2021
Property and equipment$484 
Accumulated depreciation(453)
Property and equipment, net$31 
Total financing lease liabilities included in Accruals and other current liabilities
$98