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Leases (Tables) | 3 Months Ended
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Mar. 31, 2022
Leases [Abstract] |
Schedule of Operating Lease Expense and Other Information Related to Leases | Operating lease expense was as follows:
|  |  |  | For the Three Months Ended March 31, |  |
Lease Type |  | Classification |  | 2022 |  | 2021 |  |  |  |
Parking leases |  | Compensation and benefits |  | $ | 131 |  |  | $ | 127 |  |  |  |  |
Office leases |  | Occupancy |  | 4,597 |  |  | 3,546 |  |  |  |  |
Variable lease cost (1) |  | Occupancy |  | 42 |  |  | (78) |  |  |  |  |
Short-term lease cost (1) |  | Occupancy |  | 178 |  |  | 81 |  |  |  |  |
Sublease income |  | Occupancy |  | (100) |  |  | — |  |  |  |  |
Office equipment leases |  | Communication and technology |  | 38 |  |  | 67 |  |  |  |  |
Total operating lease expense |  |  |  | $ | 4,886 |  |  | $ | 3,743 |  |  |  |  |
(1) Variable and short-term lease costs are excluded from the measurement of operating lease liabilities.
As of March 31, 2022, none of the options to extend lease terms were reasonably certain of being exercised. Other information related to leases was as follows:
| For the Three Months Ended March 31,
| 2022 |  | 2021
Weighted average discount rate | 4.2 | % |  | 4.6 | %
Weighted average remaining lease term | 9.2 years |  | 6.7 years
Operating cash flows for operating leases | $ | 4,432 |  |  | $ | 4,149 |
Schedule of Maturity of Operating Lease Liabilities | The table below presents the maturity of operating lease liabilities:
|  | As of March 31, 2022
2022 (excluding the three months ended March 31, 2022) |  | $ | 11,865 |
2023 |  | 17,077 |
2024 |  | 16,491 |
2025 |  | 16,378 |
2026 |  | 15,651 |
Thereafter |  | 58,413 |
Total undiscounted lease payments (1) |  | $ | 135,875 |
Adjustment to discount to present value |  | (22,941) |
Operating lease liabilities |  | $ | 112,934 |
(1) Total undiscounted lease payments excludes $13.2 million of operating lease payments associated with leases that have been signed but have not yet commenced as of March 31, 2022. Leases that have been signed but have not yet commenced are also excluded from operating lease assets and operating lease liabilities within the unaudited condensed consolidated statements of financial condition.

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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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