Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases

Schedule of Company's Lease Cost

The Company’s lease costs for the three months and six months ended June 30, 2019 are as follows (in thousands):

	Three Months Ended		Six Months Ended
Operating lease cost	$	3,229	$	6,575
Finance lease cost:
Amortization of right-of-use assets		36		77
Interest on lease liabilities		14		31
Net lease cost	$	3,279	$	6,683

Summary of Maturities of Operating Lease Liabilities

Future minimum lease payments under non-cancelable leases at June 30, 2019 are as follows (in thousands):

	Operating		Finance
	Leases		Leases
Year 1	$	5,862	$	244
Year 2		6,029		244
Year 3		5,758		229
Year 4		5,746		218
Year 5		5,838		118
Years thereafter		577,002		606
Total future minimum lease payments		606,235		1,659
Less amount representing interest		(501,517)		(322)
Total present value of minimum payments	$	104,718	$	1,337

Summary of Maturities of Finance Lease Liabilities

	Operating		Finance
	Leases		Leases
Year 1	$	5,862	$	244
Year 2		6,029		244
Year 3		5,758		229
Year 4		5,746		218
Year 5		5,838		118
Years thereafter		577,002		606
Total future minimum lease payments		606,235		1,659
Less amount representing interest		(501,517)		(322)
Total present value of minimum payments	$	104,718	$	1,337

Schedule of Remaining Lease Term and Discount Rate of Leases

Weighted-average remaining lease term:
Operating leases	51.3	years
Finance leases	10.6	years
Weighted-average discount rate:
Operating leases	6.8	%
Finance leases	4.0	%