XML 27 R18.htm IDEA: XBRL DOCUMENT
v3.23.1

LEASES | 3 Months Ended
--- | ---
Mar. 31, 2023
LEASES [Abstract] |
LEASES | 11. LEASES The Company has operating leases for its corporate offices and operating facilities. The Company determines if an arrangement is a lease at the inception of a contract. The Company’s operating lease terms are generally five years or less. The Company’s lease terms include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. As most of the Company’s operating leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Operating fixed lease expense is recognized on a straight-line basis over the lease term. For the three months ended March 31, 2023, and 2022, the components of lease expense were as follows (in thousands):
|  | Three Months Ended |
|  | March 31, 2023 |  |  | March 31, 2022 |
Operating lease cost |  | $ | 9,365 |  |  | $ | 8,404 |
Short-term lease cost |  |  | 274 |  |  |  | 321 |
Variable lease cost |  |  | 2,132 |  |  |  | 1,932 |
Total lease cost * |  | $ | 11,771 |  |  | $ | 10,657 |
* Sublease income was immaterial Lease cost is reflected in the consolidated statement of net income in the line item – rent, supplies, contract labor and other. Supplemental information related to leases was as follows (in thousands):
|  | Three Months Ended |
|  | March 31, 2023 |  |  | March 31, 2022 |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 9,646 |  |  | $ | 8,617 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | 6,281 |  |  | $ | 6,011 |
The aggregate future lease payments for operating leases as of March 31, 2023 were as follows (in thousands):
Fiscal Year |  | Amount |
2023 |  | $ | 27,967 |
2024 |  |  | 31,548 |
2025 |  |  | 23,584 |
2026 |  |  | 16,065 |
2027 and therafter |  |  | 16,836 |
Total lease payments |  | $ | 116,000 |
Less: imputed interest |  |  | 6,890 |
Total operating lease liabilities |  | $ | 109,110 |
Average lease terms and discount rates were as follows:
|  | Three Months Ended |
|  | March 31, 2023 |  |  | March 31, 2022 |
Weighted-average remaining lease term - Operating leases |  | 4.0 Years |  |  | 4.1 Years |
Weighted-average discount rate - Operating leases |  |  | 3.1% |  |  |  | 2.7% |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration