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Premises and Equipment | 12 Months Ended
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Dec. 31, 2021
Property, Plant and Equipment [Abstract] |
Premises and Equipment | Premises and Equipment and Lease Commitments Year-end premises and equipment were as follows:
| 2021 |  | 2020
Land | $ | 152,219 |  |  | $ | 128,739 |
Buildings | 495,903 |  |  | 458,693 |
Technology, furniture and equipment | 256,323 |  |  | 243,395 |
Leasehold improvements | 192,207 |  |  | 183,827 |
Construction and projects in progress | 14,513 |  |  | 41,202 |
Lease right-of-use assets | 281,438 |  |  | 292,087 |
| 1,392,603 |  |  | 1,347,943 |
Less accumulated depreciation and amortization | (342,272) |  |  | (302,365) |
Total premises and equipment, net | $ | 1,050,331 |  |  | $ | 1,045,578 |
Depreciation of premises and equipment totaled $55.1 million in 2021, $49.9 million 2020 and $41.0 million in 2019. Lease Commitments. We lease certain office facilities and office equipment under operating leases. Rent expense for all operating leases totaled $45.6 million in 2021, $46.0 million in 2020 and $42.1 million in 2019. On January 1, 2019, we adopted a new accounting standard which required the recognition of certain operating leases on our balance sheet as lease right-of-use assets (reported as component of premises and equipment) and related lease liabilities (reported as a component of accrued interest payable and other liabilities). See Note 1 - Summary of Significant Accounting Policies. The components of total lease expense in 2021 and 2020 were as follows:
|  | 2021 |  | 2020
Amortization of lease right-of-use assets |  | $ | 32,811 |  |  | $ | 32,772 |
Short-term lease expense |  | 1,595 |  |  | 1,799 |
Non-lease components (including taxes, insurance, common maintenance, etc.) |  | 11,203 |  |  | 11,396 |
Total |  | $ | 45,609 |  |  | $ | 45,967 |
Right-of-use lease assets totaled $281.4 million and $292.1 million at December 31, 2021 and 2020, respectively, and are reported as a component of premises and equipment on our accompanying consolidated balance sheets. The related lease liabilities totaled $313.4 million and $323.0 million at December 31, 2021 and 2020, respectively, and are reported as a component of accrued interest payable and other liabilities in the accompanying consolidated balance sheets. Lease payments under operating leases that were applied to our operating lease liability totaled $32.1 million during 2021 and $31.6 million during 2020. The following table reconciles future undiscounted lease payments due under non-cancelable operating leases (those amounts subject to recognition) to the aggregate operating lessee lease liability as of December 31, 2021:
Future lease payments |
2022 | $ | 32,222 |
2023 | 31,458 |
2024 | 29,398 |
2025 | 28,253 |
2026 | 27,833 |
Thereafter | 245,819 |
Total undiscounted operating lease liability | 394,983 |
Imputed interest | 81,579 |
Total operating lease liability included in the accompanying balance sheet | $ | 313,404 |
Weighted-average lease term in years | 14.73
Weighted-average discount rate | 3.05%
We lease certain buildings and branch facilities from various entities which are controlled by or affiliated with certain directors. Payments related to these leases totaled $322 thousand in 2021, $9.8 million in 2020 and $5.9 million in 2019. The decrease in these lease payments during 2021 was the result of a director who did not stand for re-election and who has a controlling interest in the entity from which we lease our headquarters building. This lease originally commenced during the second quarter of 2019 and we recognized a right-of-use asset totaling $121.7 million and a related lease liability totaling $121.7 million in connection with this lease. The lease was a separate agreement under a comprehensive development agreement between us, the City of San Antonio and a third party controlled by the aforementioned director.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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