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Leases (Tables) | 6 Months Ended
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Jun. 30, 2021
Leases [Abstract] |
Schedule of Lease Cost | The following table presents the weighted average lease term and weighted average discount rate for the Company's operating leases as of June 30, 2021 and December 31, 2020, respectively:
| As of |  |  |
| June 30, 2021 |  | December 31, 2020 |  |  |
Weighted average remaining lease term (in years) | 7.68 |  | 7.84 |  |  |
Weighted average discount rate | 6.93% |  | 7.43% |  |  |
The following table presents operating lease costs recognized for the three and six months ended June 30, 2021 and June 30, 2020, respectively, which are included in occupancy and equipment costs on the condensed consolidated income statements:
(Expressed in thousands) |  |  |  |  |  |  |
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Operating lease costs: |  |  |  |  |  |  |
Real estate leases - Right-of-use lease asset amortization | $ | 6,062 |  |  | $ | 5,724 |  |  | $ | 12,118 |  |  | $ | 11,464 |
Real estate leases - Interest expense | 3,607 |  |  | 3,844 |  |  | 7,203 |  |  | 7,755 |
Equipment leases - Right-of-use lease asset amortization | 445 |  |  | 474 |  |  | 890 |  |  | 947 |
Equipment leases - Interest expense | 37 |  |  | 52 |  |  | 76 |  |  | 106 |
Schedule of Maturities of Lease Liabilities | The maturities of lease liabilities as of June 30, 2021 and December 31, 2020 are as follows:
(Expressed in thousands) |  |  |  |  |
| As of |  |
| June 30, 2021 |  | December 31, 2020 |  |
2021 | $ | 21,026 |  |  | $ | 40,981 |  |  |
2022 | 40,758 |  |  | 36,999 |  |  |
2023 | 37,882 |  |  | 33,984 |  |  |
2024 | 33,123 |  |  | 29,425 |  |  |
2025 | 27,559 |  |  | 23,872 |  |  |
After 2025 | 104,802 |  |  | 92,069 |  |  |
Total lease payments | $ | 265,150 |  |  | $ | 257,330 |  |  |
Less interest | (61,142) |  |  | (63,957) |  |  |
Present value of lease liabilities | $ | 204,008 |  |  | $ | 193,373 |  |  |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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