Ryan Specialty Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

6 Months Ended

Jun. 30, 2021

The lease costs for the six months ended June 30, 2021 and 2020 are as follows:


	Six months ended June 30,
	2021			2020
Lease cost:
Operating lease cost	$	12,109		$	9,073
Finance lease costs:
Amortization of leased assets		85			32
Interest on lease liabilities		2			1
Short term lease costs:
Operating lease cost		238			346
Finance lease cost
Amortization of leased assets		4			4
Interest on lease liabilities		1			—
Sublease income		(179	)		(131	)

Lease cost – net	$	12,260		$	9,325


Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	12,684		$	7,643
Operating cash flows from finance leases		91			37
Non-cash related activities
Right-of-use assets obtained in exchange for new operating lease liabilities		1,847			4,734
Right-of-use assets obtained in exchange for new finance lease liabilities		—			—
Weighted average discount rate (percent)
Operating leases		3.73			3.83
Finance leases		3.16			3.15
Weighted average remaining lease term (years)
Operating leases		6.1			6.2
Finance leases		2.4			2.9

Supplemental balance sheet information related to Lease

right-of-use

assets:


	June 30, 2021		December 31, 2020
Right-of-use assets – operating leases – net	$	86,412	$	93,715
Right-of-use assets – finance leases – net		153		226

Total lease right-of-use assets – net	$	86,565	$	93,941

Supplemental balance sheet information related to lease liabilities:


	June 30, 2021		December 31, 2020
Current lease liabilities
Operating	$	19,909	$	19,880
Finance		72		147
Non-current lease liabilities
Operating		76,046		83,737
Finance		77		78

Total Lease Liabilities	$	96,104	$	103,842

The estimated future minimum payments of operating and financing leases as of June 30, 2021 are as follows:


	Finance Leases			Operating Leases
The remainder of 2021	$	61		$	10,598
2022		38			22,767
2023		34			17,826
2024		18			14,476
2025		4			10,951
Thereafter		—			31,606

Total undiscounted future lease payments	$	155		$	108,224

Less imputed interest		(6	)		(12,269	)

Present value lease liabilities	$	149		$	95,955