Premises and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Premises and Equipment and Lease Commitments

Year-end premises and equipment were as follows:


	2022		2021
Land	$	170,938	$	152,219
Buildings	521,280		495,903
Technology, furniture and equipment	236,440		256,323
Leasehold improvements	209,398		192,207
Construction and projects in progress	39,506		14,513
Lease right-of-use assets	288,816		281,438
	1,466,378		1,392,603
Less accumulated depreciation and amortization	(363,683)		(342,272)
Total premises and equipment, net	$	1,102,695	$	1,050,331

Depreciation of premises and equipment totaled $57.4 million in 2022, $55.1 million 2021 and $49.9 million in 2020.

Lease Commitments. We lease certain office facilities and office equipment under operating leases. Rent expense for all operating leases totaled $47.7 million in 2022, $45.6 million in 2021 and $46.0 million in 2020.

The components of total lease expense in 2022 and 2021 were as follows:


	2022		2021
Amortization of lease right-of-use assets	$	33,285	$	32,811
Short-term lease expense	2,208		1,595
Non-lease components (including taxes, insurance, common maintenance, etc.)	12,172		11,203
Total	$	47,665	$	45,609

Right-of-use lease assets totaled $288.8 million and $281.4 million at December 31, 2022 and 2021, respectively, and are reported as a component of premises and equipment on our accompanying consolidated balance sheets. The related lease liabilities totaled $321.9 million and $313.4 million at December 31, 2022 and 2021, respectively, and are reported as a component of accrued interest payable and other liabilities in the accompanying consolidated balance sheets. Lease payments under operating leases that were applied to our operating lease liability totaled $32.9 million during 2022 and $32.1 million during 2021. The following table reconciles future undiscounted lease payments due under non-cancelable operating leases (those amounts subject to recognition) to the aggregate operating lessee lease liability as of December 31, 2022:


Future lease payments
2023	$	33,685
2024	33,651
2025	33,990
2026	33,600
2027	32,023
Thereafter	232,905
Total undiscounted operating lease liability	399,854
Imputed interest	77,909
Total operating lease liability included in the accompanying balance sheet	$	321,945
Weighted-average lease term in years	13.62
Weighted-average discount rate	3.13%

We lease certain buildings and branch facilities from various entities which are controlled by or affiliated with certain directors. Payments related to these leases totaled $327 thousand in 2022, $322 thousand in 2021 and $9.8 million in 2020. The decrease in these lease payments during 2021 compared to 2020 was the result of a director who did not stand for re-election and who has a controlling interest in the entity from which we lease our headquarters building.