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LEASES (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Operating lease right-of-use assets and liabilities
Information related to the Company’s operating right-of-use assets and related operating lease liabilities were as follows (dollar amounts in thousands, except lease term and discount rate):
As of December 31,20212020
Assets:
Operating lease right-of-use assets$18,349 $20,210 
Liabilities:
Current4,350 4,992 
Long-term15,919 16,412 
Total operating lease liabilities$20,269 $21,404 

Weighted-average remaining lease term5.76.3
Weighted-average discount rate4.00 %4.23 %

Year Ended December 31,20212020
Cash paid for operating lease liabilities$6,257 $5,703 
Right-of-use assets obtained in exchange for new operating lease obligations3,961 1,996 
Cancellations or adjustments of leases that resulted in the reduction of lease assets in exchange for lease liabilities$(63)$(1,111)
Approximate aggregate commitments under non-cancelable operating leases
The approximate aggregate commitments under non-cancelable operating leases in effect at December 31, 2021, were as follows (dollar amounts in thousands):
Year Ending December 31,
2022$5,183 
20234,201 
20243,703 
20252,780 
20262,501 
Thereafter4,611 
Total lease payments$22,979 
Less: Imputed interest (1)2,710 
Present value of lease liabilities$20,269 

(1) Calculated using our corporate borrowing rate based on the term of each lease ranging from 3.00 percent to 4.29 percent.