Leases

12 Months Ended

Dec. 31, 2021

Note 8 – Leases

The Company primarily leases office buildings under operating leases which are included in Operating lease right-of-use (“ROU”) assets, Current operating lease liabilities, and Long-term operating lease liabilities on the consolidated balance sheets. The Company’s leases have remaining terms of 1 to 7 years.

Information related to the Company's total lease costs was as follows (in thousands):

	Year Ended
	December 31, 2021		December 31, 2020
Operating lease cost	$	8,957	$	8,352
Variable lease cost		689		928
Short-term lease cost		94		709
Total lease cost	$	9,740	$	9,989

Information related to the Company's ROU assets and related lease liabilities was as follows (in thousands):

	Year Ended
	December 31, 2021			December 31, 2020
Cash paid for operating lease liabilities	$	8,854		$	8,136
Right-of-use assets obtained in exchange for new operating lease obligations		5,717			6,444



	December 31, 2021			December 31, 2020
Weighted-average remaining lease term	3.6 years			3.7 years
Weighted-average discount rate	3.6		%	3.9		%

The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under noncancellable operating leases with terms of more than one year to the total operating lease liabilities recognized on the consolidated balance sheets as of December 31, 2021 (in thousands):

2022	$	7,807
2023		6,405
2024		4,359
2025		2,231
2026		1,322
Thereafter		1,038
Total undiscounted future minimum lease payments		23,162
Less: Difference between undiscounted lease payments and discounted operating lease liabilities		1,373
Total operating lease liabilities	$	21,789
Current operating lease liabilities	$	7,191
Long-term operating lease liabilities		14,598
Total operating lease liabilities	$	21,789