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Leases
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases LeasesThe 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 expired during the second quarter of 2022 and was not material for the periods presented. As of December 31, 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.
The components of operating lease cost reflected in the consolidated statements of operations were as follows:
Year Ended December 31,
202220212020
Operating lease cost (1)
$20,772 $19,425 $18,194 
Variable lease cost4,658 4,151 3,881 
Short-term lease cost16 21 399 
Total operating lease cost$25,446 $23,597 $22,474 
(1)Operating lease cost includes rent cost related to operating leases for office facilities of $20,027, $18,636, and $17,417 for the years ended December 31, 2022, 2021, and 2020, respectively.
Supplemental operating cash flow and other information related to leases was as follows:
Year Ended December 31,
202220212020
Cash paid for operating leases included in operating cash flows$19,587 $19,636 $18,384 
Right-of-use assets obtained in exchange for new operating lease liabilities (1)
$10,722 $12,842 $15,522 
(1)Right‑of‑use assets obtained in exchange for new operating lease liabilities does not include the impact from acquisitions of $1,237, $12,095, and $2,529 for the years ended December 31, 2022, 2021, and 2020, respectively.
The weighted average remaining lease term for operating leases was 3.9 years and 4.1 years as of December 31, 2022 and 2021, respectively. The weighted average discount rate was 3.4% and 2.5% as of December 31, 2022 and 2021, respectively.
Maturities of operating lease liabilities are as follows:
December 31, 2022
2023$16,057 
202410,649 
20257,542 
20265,064 
20272,932 
Thereafter3,577 
Total future lease payments45,821 
Less: Imputed interest(3,479)
Total operating lease liabilities$42,342 
As of December 31, 2022, the Company had additional operating lease minimum lease payments of $2,669 for executed leases that have not yet commenced, primarily for office locations.
Leases LeasesThe 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 expired during the second quarter of 2022 and was not material for the periods presented. As of December 31, 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.
The components of operating lease cost reflected in the consolidated statements of operations were as follows:
Year Ended December 31,
202220212020
Operating lease cost (1)
$20,772 $19,425 $18,194 
Variable lease cost4,658 4,151 3,881 
Short-term lease cost16 21 399 
Total operating lease cost$25,446 $23,597 $22,474 
(1)Operating lease cost includes rent cost related to operating leases for office facilities of $20,027, $18,636, and $17,417 for the years ended December 31, 2022, 2021, and 2020, respectively.
Supplemental operating cash flow and other information related to leases was as follows:
Year Ended December 31,
202220212020
Cash paid for operating leases included in operating cash flows$19,587 $19,636 $18,384 
Right-of-use assets obtained in exchange for new operating lease liabilities (1)
$10,722 $12,842 $15,522 
(1)Right‑of‑use assets obtained in exchange for new operating lease liabilities does not include the impact from acquisitions of $1,237, $12,095, and $2,529 for the years ended December 31, 2022, 2021, and 2020, respectively.
The weighted average remaining lease term for operating leases was 3.9 years and 4.1 years as of December 31, 2022 and 2021, respectively. The weighted average discount rate was 3.4% and 2.5% as of December 31, 2022 and 2021, respectively.
Maturities of operating lease liabilities are as follows:
December 31, 2022
2023$16,057 
202410,649 
20257,542 
20265,064 
20272,932 
Thereafter3,577 
Total future lease payments45,821 
Less: Imputed interest(3,479)
Total operating lease liabilities$42,342 
As of December 31, 2022, the Company had additional operating lease minimum lease payments of $2,669 for executed leases that have not yet commenced, primarily for office locations.