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Leases | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Leases | Leases The Company leases certain office facilities under various operating leases, which expire at various dates through 2035 and require the Company to pay operating costs, including property taxes, insurance, and maintenance. The Company’s leases have remaining lease terms of up to 12 years, some of which include options to extend the lease for up to 9 years. Additionally, some lease contracts include termination options. The Company’s lease agreements do not contain any residual value guarantees, material variable payment provisions or material restrictive covenants. Total operating lease expense was $19.9 million, $21.3 million, and $22.5 million, excluding short term lease costs, variable lease costs, and sublease income each of which were immaterial for the years ended December 31, 2022, 2021 and 2020, respectively, and is recorded under operating expenses. Total cash paid for amounts included in the measurement of operating lease liabilities was $21.6 million and $22.9 million, for the years ended December 31, 2022 and 2021, respectively. Operating lease liabilities arising from obtaining operating right-of-use assets were $13.9 million and $22.1 million, at December 31, 2022 and 2021, respectively. The weighted-average remaining lease term and weighted-average discount rate for operating lease liabilities as of December 31, 2022 were 5.91 years and 4.79%, respectively. Maturities of operating lease liabilities as of December 31, 2022 are presented in the table below (in thousands):
Year ending December 31, |
2023 | $ | 20,483 |
2024 | 16,977 |
2025 | 12,138 |
2026 | 8,340 |
2027 | 5,659 |
Thereafter | 20,326 |
Total operating lease payments | $ | 83,923 |
Less: imputed interest | (11,231) |
Present value of operating lease liabilities | $ | 72,692 |
The Company leases certain portion of its owned facilities to third parties. The Company earned lease income of $4.5 million, $4.5 million and $4.8 million for the years ending December 31, 2022, 2021 and 2020, respectively and is included in Other income (expense), net on the consolidated statements of operations. The terms of these non-cancelable lease arrangements generally require fixed periodic payments ranging from three to four years.
Leases | Leases The Company leases certain office facilities under various operating leases, which expire at various dates through 2035 and require the Company to pay operating costs, including property taxes, insurance, and maintenance. The Company’s leases have remaining lease terms of up to 12 years, some of which include options to extend the lease for up to 9 years. Additionally, some lease contracts include termination options. The Company’s lease agreements do not contain any residual value guarantees, material variable payment provisions or material restrictive covenants. Total operating lease expense was $19.9 million, $21.3 million, and $22.5 million, excluding short term lease costs, variable lease costs, and sublease income each of which were immaterial for the years ended December 31, 2022, 2021 and 2020, respectively, and is recorded under operating expenses. Total cash paid for amounts included in the measurement of operating lease liabilities was $21.6 million and $22.9 million, for the years ended December 31, 2022 and 2021, respectively. Operating lease liabilities arising from obtaining operating right-of-use assets were $13.9 million and $22.1 million, at December 31, 2022 and 2021, respectively. The weighted-average remaining lease term and weighted-average discount rate for operating lease liabilities as of December 31, 2022 were 5.91 years and 4.79%, respectively. Maturities of operating lease liabilities as of December 31, 2022 are presented in the table below (in thousands):
Year ending December 31, |
2023 | $ | 20,483 |
2024 | 16,977 |
2025 | 12,138 |
2026 | 8,340 |
2027 | 5,659 |
Thereafter | 20,326 |
Total operating lease payments | $ | 83,923 |
Less: imputed interest | (11,231) |
Present value of operating lease liabilities | $ | 72,692 |
The Company leases certain portion of its owned facilities to third parties. The Company earned lease income of $4.5 million, $4.5 million and $4.8 million for the years ending December 31, 2022, 2021 and 2020, respectively and is included in Other income (expense), net on the consolidated statements of operations. The terms of these non-cancelable lease arrangements generally require fixed periodic payments ranging from three to four years.

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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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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=77888252 + Details
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