Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases

Schedule of Company's Lease Cost

The Company’s lease costs for the three months ended March 31, 2019 are as follows (in thousands):

Operating lease cost	$	3,346
Finance lease cost:
Amortization of right-of-use assets		41
Interest on lease liabilities		17
Net lease cost	$	3,404

Summary of Maturities of Operating Lease Liabilities

Future minimum lease payments under non-cancelable leases at March 31, 2019 are as follows (in thousands):

	Operating		Finance
	Leases		Leases
Year 1	$	5,738	$	244
Year 2		5,947		244
Year 3		5,735		235
Year 4		5,867		218
Year 5		5,641		161
Years thereafter		578,442		635
Total future minimum lease payments		607,370		1,737
Less amount representing interest		(503,105)		(336)
Total present value of minimum payments	$	104,265	$	1,401

Summary of Maturities of Finance Lease Liabilities

	Operating		Finance
	Leases		Leases
Year 1	$	5,738	$	244
Year 2		5,947		244
Year 3		5,735		235
Year 4		5,867		218
Year 5		5,641		161
Years thereafter		578,442		635
Total future minimum lease payments		607,370		1,737
Less amount representing interest		(503,105)		(336)
Total present value of minimum payments	$	104,265	$	1,401

Schedule of Remaining Lease Term and Discount Rate of Leases

Weighted-average remaining lease term (years):
Operating leases	51.6	years
Finance leases	10.7	years
Weighted-average discount rate:
Operating leases	6.8	%
Finance leases	4.0	%