Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

v3.22.4
LEASES (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Lease-related Assets and Liabilities
All leases recognized in the Company's Consolidated Balance Sheets as of December 31, 2022 and 2021 are classified as operating leases, which include leases related to the asset classes reflected in the table below. ROU assets are included in other assets in the Company's Consolidated Balance Sheets.
2022 2021
Office leases $ 74,603  $ 86,231 
Equipment 57  253 
Total right-of-use assets $ 74,660  $ 86,484 
Office leases $ 85,892  $ 97,551 
Equipment 85  285 
Total lease liability $ 85,977  $ 97,836 
Summary of Components of Gross Operating Lease Costs
The following table summarizes the components of the Company's gross operating lease costs incurred during the years ended December 31, 2022 and 2021:
  2022 2021
Operating lease cost $ 26,085  $ 25,311 
Short-term lease cost 3,374  2,334 
Variable lease cost 4,664  3,821 
Total lease cost $ 34,123  $ 31,466 
Summary of Weighted-average Lease Term and Discount Rate Used weighted-average lease term and discount rate used are as follows:
December 31,
2022 2021
Weighted-average lease term (years) 5.7 6.1
Weighted-average discount rate 4.0  % 3.8  %
Summary of Supplemental Cash Flow Information Related to Operating Leases
The following table summarizes supplemental cash flow information related to operating leases:  
2022 2021
Cash paid for operating leases $ 15,972  $ 21,705 
Right-of-use assets obtained in exchange for new operating lease obligations $ 16,008  $ 18,839 
Schedule of Minimum Future Commitments or Rental Payments Under Operating Leases
Minimum future commitments by year for the Company's long-term operating leases as of December 31, 2022 are presented in the table below. Such commitments are reflected at undiscounted values and are reconciled to the discounted present value recognized in the balance sheet as follows:
Amount
2023 $ 23,646 
2024 18,021 
2025 13,506 
2026 10,135 
2027 8,538 
Thereafter 22,250 
Total future minimum lease payments $ 96,096 
Less: imputed interest (10,119)
Total lease liabilities $ 85,977