Leases

9 Months Ended

Sep. 30, 2021

3. Leases

Amounts reported in the Company’s Unaudited Condensed Consolidated Balance Sheets as of September 30, 2021 and December 31, 2020 for operating leases were as follows:

	September 30, 2021		December 31, 2020
	(Amounts in Thousands)
Operating lease assets, net	$	36,424	$	37,991

Short-term operating lease liabilities (in accrued expenses)		9,713		9,283
Long-term operating lease liabilities		33,509		35,516
Total operating lease liabilities	$	43,222	$	44,799

Lease Costs

Components of lease costs were reported in general and administrative expenses in the Company’s Unaudited Condensed Consolidated Statements of Income as follows:

	For the Three Months Ended September 30, (Amounts in Thousands)						For the Nine Months Ended September 30, (Amounts in Thousands)
	2021			2020			2021			2020
Operating lease costs	$	2,789		$	2,285		$	8,341		$	6,524
Short-term lease costs		197			147			572			575
Less: sublease income		(177	)		(74	)		(480	)		(224	)
Total lease costs, net	$	2,809		$	2,358		$	8,433		$	6,875

Lease Term and Discount Rate

Weighted average remaining lease terms and discount rates were as follows:

	September 30, 2021			December 31, 2020
Operating leases:
Weighted average remaining lease term		6.55			6.97
Weighted average discount rate		3.95	%		4.18	%

Maturity of Lease Liabilities

Remaining operating lease payments as of September 30, 2021 were as follows:

	Operating Leases
	(Amounts in Thousands)
Due in the 12-month period ended September 30,
2022	$	2,765
2023		10,717
2024		8,657
2025		6,520
2026		3,883
Thereafter		16,786
Total future minimum rental commitments		49,328
Less: Imputed interest		(6,106	)
Total lease liabilities	$	43,222

Supplemental cash flows information

	For the Nine Months Ended September 30, (Amounts in Thousands)
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,237	$	6,472

Right-of-use assets obtained in exchange for lease obligations:
Operating leases		5,706		21,399