Leases

6 Months Ended

Jun. 30, 2022

3. Leases

Amounts reported on the Company’s Unaudited Condensed Consolidated Balance Sheets for operating leases were as follows:

	June 30, 2022		December 31, 2021
	(Amounts in Thousands)
Operating lease assets, net	$	41,207	$	36,048

Short-term operating lease liabilities (in accrued expenses)		10,702		9,774
Long-term operating lease liabilities		38,343		32,859
Total operating lease liabilities	$	49,045	$	42,633

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 June 30, (Amounts in Thousands)						For the Six Months Ended June 30, (Amounts in Thousands)
	2022			2021			2022			2021
Operating lease costs	$	3,103		$	2,775		$	5,904		$	5,552
Short-term lease costs		911			194			1,662			375
Total lease costs		4,014			2,969			7,566			5,927
Less: sublease income		(176	)		(152	)		(353	)		(303	)
Total lease costs, net	$	3,838		$	2,817		$	7,213		$	5,624

Lease Term and Discount Rate

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

	June 30, 2022			December 31, 2021
Operating leases:
Weighted average remaining lease term (years)		6.16			6.39
Weighted average discount rate		3.86	%		3.91	%

Maturity of Lease Liabilities

Remaining operating lease payments as of June 30, 2022 were as follows:

	Operating Leases
	(Amounts in Thousands)
Due in the 12-month period ended June 30,
2023	$	12,213
2024		10,592
2025		8,177
2026		5,730
2027		4,611
Thereafter		14,069
Total future minimum rental commitments		55,392
Less: Imputed interest		(6,347	)
Total lease liabilities	$	49,045

Supplemental cash flows information

	For the Six Months Ended June 30,
	(Amounts in Thousands)
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	6,476	$	5,313

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	11,319	$	3,919