Leases |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases |
9. Leases We have various non-cancelable lease agreements for certain of our offices with original lease periods expiring between 2022 and 2042. Our lease terms may include options to extend or terminate the lease when it is reasonably certain we will exercise that option. Certain of the arrangements have free rent periods or escalating rent payment provisions. Lease Cost The components of lease cost were as follows:
Lease Term and Discount Rate The weighted-average remaining lease term (in years) and discount rate related to the operating leases were as follows:
We use our incremental borrowing rate based on the information available at the lease commencement date to determine the present value of lease payments. Maturity of Lease Liabilities The present value of our operating lease liabilities as of June 30, 2022 were as follows:
As of June 30, 2022, we have additional operating leases for facilities that have not yet commenced with lease obligations of $38.7 million. These operating leases will commence between 2022 and 2023 with lease terms of 7 years to 11 years. Other Information Cash payments included in the measurement of our operating lease liabilities were $22.7 million and $18.0 million for the three months ended June 30, 2022 and 2021, respectively, and $46.2 million and $35.0 million for the six months ended June 30, 2022 and 2021, respectively. Lease liabilities arising from obtaining operating lease right-of-use assets were $12.6 million and $134.8 million for the three and six months ended June 30, 2022, respectively. Lease liabilities arising from obtaining operating lease right-of-use assets were $38.3 million and $47.7 million for the three and six months ended June 30, 2021, respectively. |
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