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Lease Commitments (Tables)
12 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Lessee, Operating Lease, Liability, Maturity
The table below presents the maturity of operating lease liabilities:
As of December 31, 2020
2021$16,749 
202215,375 
202313,800 
202413,495 
202513,450 
Thereafter37,026 
Total undiscounted lease payments109,895 
Adjustment to discount to present value(17,224)
Operating lease liabilities$92,671 
Lease, Cost
Operating lease expense was as follows:
For the Years Ended December 31,
Lease TypeClassification20202019
Parking leasesCompensation and benefits$520 $519 
Office leases (1)
Occupancy14,991 15,931 
Variable lease cost (2)
Occupancy135 118 
Short-term lease cost (2)
Occupancy343 369 
Sublease incomeOccupancy(429)(286)
Office equipment leasesCommunication and technology281 305 
Total operating lease expense$15,841 $16,956 
(1) Office lease expense includes impairment charges of $0.9 million and $1.5 million for the years ended December 31, 2020 and 2019, respectively, related to the abandonment of a leased office space, as discussed below.
(2) Variable and short-term lease costs are excluded from the measurement of operating lease liabilities.