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v3.23.1

Leases (Tables) | 3 Months Ended
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Mar. 31, 2023
Leases [Abstract] |
Schedule of Supplemental Information Related to Operating Leases | Supplemental information related to the Company’s operating and financing leases are as follows (in thousands):
| Classification in Unaudited Condensed Consolidated Statements of Financial Condition |  | March 31, 2023 |  | December 31, 2022
Assets |  |  |  |  |
Operating lease ROU assets | Other assets |  | $ | 126,394 |  |  | $ | 129,786 |
Finance lease ROU assets | Fixed assets, net |  | $ | 5,383 |  |  | $ | 5,685 |
Liabilities |  |  |  |  |
Operating lease liabilities | Accounts payable, accrued and other liabilities |  | $ | 152,477 |  |  | $ | 156,105 |
Finance lease liabilities | Accounts payable, accrued and other liabilities |  | $ | 5,569 |  |  | $ | 6,039 |
Schedule of Weighted-Average Remaining Lease Term and Discount Rate |
| March 31, 2023 |  | December 31, 2022
Weighted-average remaining lease term |  |  |
Operating leases (years) | 7.7 |  | 7.7
Finance leases (years) | 4.1 |  | 4.1
Weighted-average discount rate |  |  |
Operating leases | 4.9 | % |  | 4.5 | %
Finance leases | 4.3 | % |  | 4.3 | %
Schedule of Components of Lease Expense | The components of lease expense are as follows (in thousands):
| Classification in Unaudited Condensed Consolidated Statements of Operations |  | Three Months Ended March 31, |  |
|  | 2023 |  | 2022 |  |  |  |
Operating lease cost 1 | Occupancy and equipment |  | $ | 8,853 |  |  | $ | 7,323 |  |  |  |  |
Finance lease cost |  |  |  |  |  |  |  |  |
Amortization on ROU assets | Occupancy and equipment |  | $ | 326 |  |  | $ | 152 |  |  |  |  |
Interest on lease liabilities | Interest expense |  | $ | 60 |  |  | $ | 22 |  |  |  |  |
__________________________ 1 Short-term lease expense was not material for the three months ended March 31, 2023 and 2022.
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, 2023
| Operating leases |  | Finance leases
2023 (excluding the three months ended March 31, 2023) | $ | 27,019 |  |  | $ | 1,272 |
2024 | 31,268 |  |  | 1,448 |
2025 | 26,756 |  |  | 1,448 |
2026 | 21,253 |  |  | 1,290 |
2027 | 18,672 |  |  | 627 |
Thereafter | 110,977 |  |  | — |
Total | $ | 235,945 |  |  | $ | 6,085 |
Interest | (83,468) |  |  | (516) |
Total | $ | 152,477 |  |  | $ | 5,569 |
Schedule of Maturity Analysis of Finance Lease Liabilities | The following table shows the Company’s maturity analysis of its operating lease liabilities (in thousands):
| March 31, 2023
| Operating leases |  | Finance leases
2023 (excluding the three months ended March 31, 2023) | $ | 27,019 |  |  | $ | 1,272 |
2024 | 31,268 |  |  | 1,448 |
2025 | 26,756 |  |  | 1,448 |
2026 | 21,253 |  |  | 1,290 |
2027 | 18,672 |  |  | 627 |
Thereafter | 110,977 |  |  | — |
Total | $ | 235,945 |  |  | $ | 6,085 |
Interest | (83,468) |  |  | (516) |
Total | $ | 152,477 |  |  | $ | 5,569 |
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, |  |
Cash paid for amounts included in the measurement of lease liabilities | 2023 |  | 2022 |  |  |  |
Operating cash flows from operating lease liabilities | $ | 9,604 |  |  | $ | 7,917 |  |  |  |  |
Operating cash flows from finance lease liabilities | $ | 60 |  |  | $ | 22 |  |  |  |  |
Financing cash flows from finance lease liabilities | $ | 302 |  |  | $ | 142 |  |  |  |  |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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