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v3.22.4

Lease Commitments | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Lease Commitments | Lease Commitments The following tables provide a summary of lease costs and future required fixed payments related to the Company’s leasing arrangements in which it is the lessee:
|  | Year Ended |  |  |
(Dollars in thousands) |  | December 31, 2022 |  |  |
Operating lease cost |  | $ | 22,767 |  |  |  |
Finance lease cost: |  |  |  |  |
Amortization of right-of-use asset |  | 219 |  |  |  |
Interest on lease liability |  | 291 |  |  |  |
Short-term lease cost |  | 302 |  |  |  |
Variable lease cost |  | 2,966 |  |  |  |
Sublease income |  | (73) |  |  |  |
Total lease cost |  | $ | 26,472 |  |  |  |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 25,379 |  |  |  |
Cash paid for amounts included in the measurement of finance lease liabilities |  | 337 |  |  |  |
Right-of-use asset obtained in exchange for new operating lease liabilities |  | 7,832 |  |  |  |
Right-of-use asset obtained in exchange for new finance lease liabilities |  | — |  |  |  |
Weighted average remaining lease term - operating leases |  | 11.4 years |  |  |
Weighted average remaining lease term - finance leases |  | 38.0 years |  |  |
Weighted average discount rate - operating leases |  | 3.99 | % |  |  |
Weighted average discount rate - finance leases |  | 3.43 | % |  |  |
(In thousands) |  | Payments
2023 |  | $ | 21,494 |
2024 |  | 21,513 |
2025 |  | 20,453 |
2026 |  | 18,566 |
2027 |  | 17,584 |
2028 and thereafter |  | 115,255 |
Total minimum future amounts |  | $ | 214,865 |
Impact of measuring the lease liability on a discounted basis |  | (48,127) |
Total lease liability |  | $ | 166,738 |
In addition to the lessee arrangements discussed above, the Company also leases certain owned premises and receives rental income from such lessor agreements. Gross rental income related to the Company’s buildings totaled $7.8 million, $7.8 million and $8.7 million, in 2022, 2021 and 2020, respectively. The approximate annual gross rental receipts under noncancelable agreements with remaining terms in excess of one year as of December 31, 2022, are as follows (in thousands):
|  |  |  | Receipts
2023 |  |  |  | $ | 4,066 |
2024 |  |  |  | 2,861 |
2025 |  |  |  | 2,253 |
2026 |  |  |  | 1,745 |
2027 |  |  |  | 1,108 |
2028 and thereafter |  |  |  | 3,674 |
Total minimum future amounts |  |  |  | $ | 15,707 |
Lease Commitments | Lease Commitments The following tables provide a summary of lease costs and future required fixed payments related to the Company’s leasing arrangements in which it is the lessee:
|  | Year Ended |  |  |
(Dollars in thousands) |  | December 31, 2022 |  |  |
Operating lease cost |  | $ | 22,767 |  |  |  |
Finance lease cost: |  |  |  |  |
Amortization of right-of-use asset |  | 219 |  |  |  |
Interest on lease liability |  | 291 |  |  |  |
Short-term lease cost |  | 302 |  |  |  |
Variable lease cost |  | 2,966 |  |  |  |
Sublease income |  | (73) |  |  |  |
Total lease cost |  | $ | 26,472 |  |  |  |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 25,379 |  |  |  |
Cash paid for amounts included in the measurement of finance lease liabilities |  | 337 |  |  |  |
Right-of-use asset obtained in exchange for new operating lease liabilities |  | 7,832 |  |  |  |
Right-of-use asset obtained in exchange for new finance lease liabilities |  | — |  |  |  |
Weighted average remaining lease term - operating leases |  | 11.4 years |  |  |
Weighted average remaining lease term - finance leases |  | 38.0 years |  |  |
Weighted average discount rate - operating leases |  | 3.99 | % |  |  |
Weighted average discount rate - finance leases |  | 3.43 | % |  |  |
(In thousands) |  | Payments
2023 |  | $ | 21,494 |
2024 |  | 21,513 |
2025 |  | 20,453 |
2026 |  | 18,566 |
2027 |  | 17,584 |
2028 and thereafter |  | 115,255 |
Total minimum future amounts |  | $ | 214,865 |
Impact of measuring the lease liability on a discounted basis |  | (48,127) |
Total lease liability |  | $ | 166,738 |
In addition to the lessee arrangements discussed above, the Company also leases certain owned premises and receives rental income from such lessor agreements. Gross rental income related to the Company’s buildings totaled $7.8 million, $7.8 million and $8.7 million, in 2022, 2021 and 2020, respectively. The approximate annual gross rental receipts under noncancelable agreements with remaining terms in excess of one year as of December 31, 2022, are as follows (in thousands):
|  |  |  | Receipts
2023 |  |  |  | $ | 4,066 |
2024 |  |  |  | 2,861 |
2025 |  |  |  | 2,253 |
2026 |  |  |  | 1,745 |
2027 |  |  |  | 1,108 |
2028 and thereafter |  |  |  | 3,674 |
Total minimum future amounts |  |  |  | $ | 15,707 |
Lease Commitments | Lease Commitments The following tables provide a summary of lease costs and future required fixed payments related to the Company’s leasing arrangements in which it is the lessee:
|  | Year Ended |  |  |
(Dollars in thousands) |  | December 31, 2022 |  |  |
Operating lease cost |  | $ | 22,767 |  |  |  |
Finance lease cost: |  |  |  |  |
Amortization of right-of-use asset |  | 219 |  |  |  |
Interest on lease liability |  | 291 |  |  |  |
Short-term lease cost |  | 302 |  |  |  |
Variable lease cost |  | 2,966 |  |  |  |
Sublease income |  | (73) |  |  |  |
Total lease cost |  | $ | 26,472 |  |  |  |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 25,379 |  |  |  |
Cash paid for amounts included in the measurement of finance lease liabilities |  | 337 |  |  |  |
Right-of-use asset obtained in exchange for new operating lease liabilities |  | 7,832 |  |  |  |
Right-of-use asset obtained in exchange for new finance lease liabilities |  | — |  |  |  |
Weighted average remaining lease term - operating leases |  | 11.4 years |  |  |
Weighted average remaining lease term - finance leases |  | 38.0 years |  |  |
Weighted average discount rate - operating leases |  | 3.99 | % |  |  |
Weighted average discount rate - finance leases |  | 3.43 | % |  |  |
(In thousands) |  | Payments
2023 |  | $ | 21,494 |
2024 |  | 21,513 |
2025 |  | 20,453 |
2026 |  | 18,566 |
2027 |  | 17,584 |
2028 and thereafter |  | 115,255 |
Total minimum future amounts |  | $ | 214,865 |
Impact of measuring the lease liability on a discounted basis |  | (48,127) |
Total lease liability |  | $ | 166,738 |
In addition to the lessee arrangements discussed above, the Company also leases certain owned premises and receives rental income from such lessor agreements. Gross rental income related to the Company’s buildings totaled $7.8 million, $7.8 million and $8.7 million, in 2022, 2021 and 2020, respectively. The approximate annual gross rental receipts under noncancelable agreements with remaining terms in excess of one year as of December 31, 2022, are as follows (in thousands):
|  |  |  | Receipts
2023 |  |  |  | $ | 4,066 |
2024 |  |  |  | 2,861 |
2025 |  |  |  | 2,253 |
2026 |  |  |  | 1,745 |
2027 |  |  |  | 1,108 |
2028 and thereafter |  |  |  | 3,674 |
Total minimum future amounts |  |  |  | $ | 15,707 |

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