Leases

9 Months Ended

Sep. 30, 2022

Note 14. Leases

Operating lease expense was as follows:


		For the Three Months Ended September 30,				For the Nine Months Ended September 30,
Lease Type	Classification	2022		2021		2022		2021
Parking leases	Compensation and benefits	$	131	$	130	$	393	$	388
Office leases	Occupancy	4,157		3,664		13,256		10,862
Variable lease cost (1)	Occupancy	410		14		486		44
Short-term lease cost (1)	Occupancy	268		97		699		257
Sublease income	Occupancy	—		(100)		(133)		(167)
Office equipment leases	Communication and technology	34		59		134		190
Total operating lease expense		$	5,000	$	3,864	$	14,835	$	11,574
(1) Variable and short-term lease costs are excluded from the measurement of operating lease liabilities.

The table below presents the maturity of operating lease liabilities:


	As of September 30, 2022
2022 (excluding the nine months ended September 30, 2022)	$	3,787
2023	18,428
2024	18,595
2025	18,524
2026	17,783
Thereafter	70,519
Total undiscounted lease payments	$	147,636
Adjustment to discount to present value	(24,160)
Operating lease liabilities	$	123,476

As of September 30, 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 Nine Months Ended September 30,
	2022			2021
Weighted average discount rate	4.1		%	4.6		%
Weighted average remaining lease term	9.1 years			6.7 years
Operating cash flows for operating leases	$	12,392		$	12,779