v3.22.4
LEASES (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Lease Expense, Remaining Lease Terms, Discount Rate and Other Information
Information regarding lease expense, remaining lease term, discount rate, and other select lease information is presented below as of December 31, 2022 and 2021, and for the twelve months ended December 31, 2022 and 2021 (dollars in thousands):
Twelve Months Ended December 31,
Lease Costs202220212020
Operating lease expense$92,032 $85,521 $86,451 
Short-term lease expense7,151 8,307 15,130 
Total lease expense$99,183 $93,828 $101,581 
Twelve Months Ended December 31,
Other Lease Information202220212020
Operating cash outflows from operating leases$91,702 $85,244 $74,177 
Right-of-use lease assets obtained in exchange for new lease liabilities(1)
161,886 52,931 95,005 
As of December 31,
Lease Term and Discount Rate20222021
Weighted average remaining lease term (in years)(1)
6.46.4
Weighted average discount rate3.5 %3.0 %
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(1) The weighted average remaining lease term is significantly impacted by a 15-year lease related to office space in Chicago, IL, which commenced in 2018. Excluding this lease, the weighted average remaining lease term of our agreements is 5.3 years.
Schedule of Maturity of Lease Liabilities The maturity of lease liabilities as of December 31, 2022, were as follows (in thousands):
Maturity of Lease LiabilitiesOperating Leases
2023$85,930 
202477,868 
202564,308 
202653,098 
202742,757 
Thereafter113,678 
Total lease payments437,639 
Less: Interest(50,175)
Present value of lease liabilities $387,464