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Lease Commitments (Tables) | 12 Months Ended
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Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract] |
Lessee, Operating Lease, Liability, Maturity | The table below presents the maturity of operating lease liabilities:
| As of December 31, 2021
2022 | $ | 16,310 |
2023 | 16,028 |
2024 | 15,114 |
2025 | 14,994 |
2026 | 14,260 |
Thereafter | 43,091 |
Total undiscounted lease payments (1) | 119,797 |
Adjustment to discount to present value | (19,494) |
Operating lease liabilities | $ | 100,303 |
(1) Total undiscounted lease payments excludes $19.1 million of operating lease payments associated with leases that have been signed but have not yet commenced as of December 31, 2021. Leases that have been signed but have not yet commenced are also excluded from operating lease assets and operating lease liabilities within the Consolidated Statements of Financial Condition.
Lease, Cost | Operating lease expense was as follows:
|  |  |  | For the Years Ended December 31, |  |  |  |
Lease Type |  | Classification |  | 2021 |  | 2020 |  | 2019 |  |  |  |
Parking leases |  | Compensation and benefits |  | $ | 518 |  |  | $ | 520 |  |  | $ | 519 |  |  |  |  |
Office leases (1) |  | Occupancy |  | 14,463 |  |  | 14,991 |  |  | 15,931 |  |  |  |  |
Variable lease cost (2) |  | Occupancy |  | 110 |  |  | 135 |  |  | 118 |  |  |  |  |
Short-term lease cost (2) |  | Occupancy |  | 455 |  |  | 343 |  |  | 369 |  |  |  |  |
Sublease income |  | Occupancy |  | (267) |  |  | (429) |  |  | (286) |  |  |  |  |
Office equipment leases |  | Communication and technology |  | 247 |  |  | 281 |  |  | 305 |  |  |  |  |
Total operating lease expense |  |  |  | $ | 15,526 |  |  | $ | 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, respectfully, related to the abandonment of a leased office space. |  |  |  |
(2) Variable and short-term lease costs are excluded from the measurement of operating lease liabilities. |  |  |  |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + 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 http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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