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Leases

6 Months Ended

Jun. 30, 2021

In conjunction with the acquisition of First American in June 2021 (Note 6), we acquired operating lease assets and related liabilities of $24,506. Information regarding our operating leases was as follows:


(in thousands)	June 30, 2021			December 31, 2020
Operating lease assets	$	62,362		$	35,906

Accrued liabilities	$	12,859		$	11,589
Operating lease liabilities	52,919			28,344
Total operating lease liabilities	$	65,778		$	39,933
Weighted-average remaining lease term (in years)	5.6			4.7
Weighted-average discount rate	4.4		%	3.1		%

Maturities of operating lease liabilities were as follows as of June 30, 2021:


(in thousands)	Operating lease obligations
Remainder of 2021	$	7,785
2022	18,587
2023	13,861
2024	12,697
2025	10,711
Thereafter	23,854
Total lease payments	87,495
Less lease incentives receivable	(10,250)
Less imputed interest	(11,467)
Present value of lease payments	$	65,778

During the third quarter of 2020, we executed a lease on a facility located in Minnesota with a term of 16 years. As this lease has not yet commenced, it was not reflected on the consolidated balance sheets as of June 30, 2021 or December 31, 2020. The total obligation under this lease is approximately $43,000, with approximately $4,000 due in 2022 through 2023, approximately $5,000 due in 2024 through 2025, and the remainder due through 2037.