Leases

9 Months Ended

Sep. 30, 2022

3. Leases

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


	September 30, 2022		December 31, 2021
	(Amounts in Thousands)
Operating lease assets, net	$	40,503	$	36,048

Short-term operating lease liabilities (in accrued expenses)		10,866		9,774
Long-term operating lease liabilities		37,168		32,859
Total operating lease liabilities	$	48,034	$	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 September 30, (Amounts in Thousands)						For the Nine Months Ended September 30, (Amounts in Thousands)
	2022			2021			2022			2021
Operating lease costs	$	3,251		$	2,789		$	8,888		$	8,341
Short-term lease costs		589			197			2,251			572
Total lease costs		3,840			2,986			11,139			8,913
Less: sublease income		(176	)		(177	)		(529	)		(480	)
Total lease costs, net	$	3,664		$	2,809		$	10,610		$	8,433

Lease Term and Discount Rate

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


	September 30, 2022			December 31, 2021
Operating leases:
Weighted average remaining lease term (years)		5.98			6.39
Weighted average discount rate		3.92	%		3.91	%

Maturity of Lease Liabilities

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


	Operating Leases
	(Amounts in Thousands)
Due in the 12-month period ended September 30,
2023	$	12,379
2024		10,645
2025		7,816
2026		5,756
2027		4,433
Thereafter		13,070
Total future minimum rental commitments		54,099
Less: Imputed interest		(6,065	)
Total lease liabilities	$	48,034

Supplemental cash flows information


	For the Nine Months Ended September 30,
	(Amounts in Thousands)
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9,752	$	8,237

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	13,130	$	5,706