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Leases | 3 Months Ended
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Mar. 31, 2022
Leases [Abstract] |
LEASES | LEASES The Company enters into operating leases domestically and internationally to lease certain warehouse space, office facilities, space for its Brand and Factory House stores, and certain equipment under non-cancelable operating leases. The leases expire at various dates through 2035, excluding extensions at the Company's option, and include provisions for rental adjustments. Short-term lease payments were not material for the three months ended March 31, 2022 and 2021. Lease Costs and Other Information The Company recognizes lease expense on a straight-line basis over the lease term. The following table illustrates operating and variable lease costs, included in selling, general and administrative expenses within the Company's Consolidated Statements of Operations, for the periods indicated:
| Three months ended March 31,
| 2022 |  | 2021
Operating lease costs | $ | 36,699 |  |  | $ | 34,935 |
Variable lease costs | $ | 3,759 |  |  | $ | 2,920 |
There are no residual value guarantees that exist, and there are no restrictions or covenants imposed by leases. The Company rents or subleases excess office facilities and warehouse space to third parties. Sublease income is not material. The weighted average remaining lease term and discount rate for the periods indicated below were as follows:
| As of March 31, 2022 |  | As of December 31, 2021 |  | As of March 31, 2021
Weighted average remaining lease term (in years) | 8.69 |  | 8.73 |  | 9.05
Weighted average discount rate | 3.72 | % |  | 3.72 | % |  | 3.82 | %
Supplemental Cash Flow Information The following table presents supplemental information relating to cash flow arising from lease transactions:
| Three months ended March 31,
| 2022 |  | 2021
Operating cash outflows from operating leases | $ | 43,903 |  |  | $ | 45,909 |
Leased assets obtained in exchange for new operating lease liabilities | $ | (892) |  |  | $ | 4,074 |
Maturity of Lease Liabilities The following table presents the future minimum lease payments under the Company's operating lease liabilities as of March 31, 2022:
Fiscal year ending March 31,
2023 | $ | 165,333 |
2024 | 141,401 |
2025 | 119,869 |
2026 | 88,897 |
2027 | 70,360 |
2028 and thereafter | 363,083 |
Total lease payments | $ | 948,943 |
Less: Interest | 145,127 |
Total present value of lease liabilities | $ | 803,816 |
As of March 31, 2022, the Company has additional operating lease obligations that have not yet commenced of approximately $11.8 million, which are not reflected in the table above.

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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 http://asc.fasb.org/subtopic&trid=77888251 + Details
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