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LEASES (Notes) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Lessee, Operating Leases | The Company leases 89 buildings and offices under non-cancelable operating leases. The leases contain various provisions for increases in rental rates, based either on changes in the published Consumer Price Index or a predetermined escalation schedule. Substantially all of the leases provide the Company with the option to extend the lease term one or more times following expiration of the initial term. The table below presents the lease ROU assets and lease liabilities recorded on the balance sheet at December 31, 2024 and 2023 (dollars in thousands):
|  |  |  | December 31, 2024 |  | December 31, 2023
Assets |  |  |  |  |  |
Operating lease ROU assets |  |  |  | $ | 39,998 |  |  | $ | 43,731 |
Liabilities |  |  |  |  |  |
Operating lease liabilities |  |  |  | $ | 43,472 |  |  | $ | 48,659 |
Weighted average remaining lease term - operating leases |  | 4.4 years |  | 4.5 years
Weighted average discount rate - operating leases |  | 4.0 | % |  | 3.3 | %
The table below presents certain information related to the lease costs for operating leases for the years ended December 31, 2024, 2023 and 2022 (in thousands):
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Operating lease cost |  | $ | 13,863 |  |  | $ | 13,848 |  |  | $ | 16,647 |
Short-term lease cost |  | 9 |  |  | 132 |  |  | 125 |
Variable lease cost |  | 2,454 |  |  | 2,231 |  |  | 2,189 |
Less sublease income |  | (1,547) |  |  | (1,447) |  |  | (1,126) |
Total lease cost (1) |  | $ | 14,779 |  |  | $ | 14,764 |  |  | $ | 17,835 |
(1) Lease expenses and sublease income are classified within occupancy and equipment expense on the Consolidated Statements of Operations. Operating cash flows paid for operating lease amounts included in the measurement of lease liabilities were $14.9 million for the year ended December 31, 2024, and $14.8 million for the year ended December 31, 2023. The Company recorded $8.2 million of lease ROU assets in exchange for operating lease liabilities for the year ended December 31, 2024, and $6.8 million for the year ended December 31, 2023. The table below reconciles the undiscounted cash flows for each of the first five years beginning with 2025 and the total of the remaining years to the operating lease liabilities recorded on the Consolidated Statements of Financial Position (in thousands):
|  | Operating Leases
2025 |  | $ | 14,117 |
2026 |  | 12,272 |
2027 |  | 9,307 |
2028 |  | 4,756 |
2029 |  | 3,025 |
Thereafter |  | 3,854 |
Total minimum lease payments |  | 47,331 |
Less: amount of lease payments representing interest |  | (3,859) |
Lease obligations |  | $ | 43,472 |
As of December 31, 2024 and 2023, the Company had no undiscounted lease payments under an operating lease that had not yet commenced.

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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