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Leases | 12 Months Ended
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Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
Lessee, Operating Leases | Note 16. Leases Operating lease expense was as follows:
|  |  |  | For the Years Ended December 31, |  |  |  |
Lease Type |  | Classification |  | 2022 |  | 2021 |  | 2020 |  |  |  |
Parking leases |  | Compensation and benefits |  | $ | 398 |  |  | $ | 518 |  |  | $ | 520 |  |  |  |  |
Office leases (1) |  | Occupancy |  | 18,979 |  |  | 14,463 |  |  | 14,991 |  |  |  |  |
Variable lease cost (2) |  | Occupancy |  | 351 |  |  | 110 |  |  | 135 |  |  |  |  |
Short-term lease cost (2) |  | Occupancy |  | 710 |  |  | 455 |  |  | 343 |  |  |  |  |
Sublease income |  | Occupancy |  | (133) |  |  | (267) |  |  | (429) |  |  |  |  |
Office equipment leases |  | Communication and technology |  | 134 |  |  | 247 |  |  | 281 |  |  |  |  |
Total operating lease expense |  |  |  | $ | 20,439 |  |  | $ | 15,526 |  |  | $ | 15,841 |  |  |  |  |
(1) Office lease expense includes impairment charges of $1.4 million and $0.9 million for the years ended December 31, 2022 and 2020, respectively, related to the abandonment of leased office space. |  |  |  |
(2) Variable and short-term lease costs are excluded from the measurement of operating lease liabilities. |  |  |  |
During the year ended December 31, 2022, the Company recognized asset impairment loss of $1.4 million related to the abandonment of a leased office location. The loss is recorded in occupancy expense based on the present value of expected future cash flows. The table below presents the maturity of operating lease liabilities:
| As of December 31, 2022
2023 | $ | 18,698 |
2024 | 18,619 |
2025 | 18,524 |
2026 | 17,783 |
2027 | 16,540 |
Thereafter | 53,592 |
Total undiscounted lease payments | 143,756 |
Adjustment to discount to present value | (22,909) |
Operating lease liabilities | $ | 120,847 |
As of December 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 Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Weighted average discount rate | 4.1 | % |  | 4.4 | % |  | 4.6 | %
Weighted average remaining lease term | 9.0 years |  | 8.3 years |  | 7.4 years
Operating cash flows for operating leases | 16,393 |  |  | 16,821 |  |  | 16,546 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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