Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

v3.22.0.1
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, 2021 2020
Assets:
Operating lease right-of-use assets $ 18,349  $ 20,210 
Liabilities:
Current 4,350  4,992 
Long-term 15,919  16,412 
Total operating lease liabilities $ 20,269  $ 21,404 

Weighted-average remaining lease term 5.7 6.3
Weighted-average discount rate 4.00  % 4.23  %

Year Ended December 31, 2021 2020
Cash paid for operating lease liabilities $ 6,257  $ 5,703 
Right-of-use assets obtained in exchange for new operating lease obligations 3,961  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 
2023 4,201 
2024 3,703 
2025 2,780 
2026 2,501 
Thereafter 4,611 
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.