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Leases (Tables)
3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Schedule of Supplemental Information Related to Operating Leases

Supplemental information related to the Company’s operating leases is as follows (in thousands):

 

 

 

Classification in

Unaudited Condensed

Consolidated Statements

of Financial Condition

 

March 31, 2021

 

 

December 31, 2020

 

Assets

 

 

 

 

 

 

 

 

 

 

Operating lease ROU assets

 

Other assets

 

$

156,094

 

 

$

165,969

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities

 

Accounts payable,

accrued and other

liabilities

 

$

183,687

 

 

$

190,207

 

Schedule of Weighted-Average Remaining Lease Term and Discount Rate

 

 

 

 

March 31, 2021

 

 

December 31, 2020

 

Weighted-average remaining lease term

 

 

 

 

 

 

 

 

Operating leases (years)

 

 

 

 

10.7

 

 

 

10.5

 

Weighted-average discount rate

 

 

 

 

 

 

 

 

 

 

Operating leases

 

 

 

 

4.8

%

 

 

4.9

%

 

Schedule of Components of Lease Expense

The components of lease expense are as follows (in thousands):

 

 

 

 

 

Three Months Ended March 31,

 

 

 

Classification in

Unaudited

Condensed

Consolidated

Statements

of Operations

 

2021

 

 

2020

 

Operating lease cost

 

Occupancy and

equipment

 

$

11,006

 

 

$

9,866

 

 

Schedule of Maturity Analysis of Operating Lease Liabilities

The following table shows the Company’s maturity analysis of its operating lease liabilities (in thousands):

 

 

 

March 31, 2021

 

2021 (excluding the three months ended March 31, 2021)

 

$

27,154

 

2022

 

 

33,127

 

2023

 

 

26,816

 

2024

 

 

22,203

 

2025

 

 

17,525

 

Thereafter

 

 

114,772

 

Total

 

$

241,597

 

Interest

 

 

(57,910

)

Total

 

$

183,687

 

Schedule of Cash Flow Information Related to Lease Liabilities

 

The following table shows cash flow information related to lease liabilities (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2021

 

 

2020

 

Cash paid for obligations included in the measurement of lease liabilities

 

$

9,249

 

 

$

9,088