Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases

Schedule of Company's Lease Cost

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

	Three Months Ended		Nine Months Ended
Operating lease cost	$	3,167	$	9,742
Finance lease cost:
Amortization of right-of-use assets		43		120
Interest on lease liabilities		18		49
Net lease cost	$	3,228	$	9,911

Summary of Maturities of Operating Lease Liabilities

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

	Operating		Finance
	Leases		Leases
Year 1	$	6,159	$	260
Year 2		6,206		260
Year 3		5,942		241
Year 4		5,973		232
Year 5		5,823		60
Years thereafter		575,562		609
Total future minimum lease payments		605,665		1,662
Less amount representing interest		(499,801)		(311)
Total present value of minimum payments	$	105,864	$	1,351

Summary of Maturities of Finance Lease Liabilities

	Operating		Finance
	Leases		Leases
Year 1	$	6,159	$	260
Year 2		6,206		260
Year 3		5,942		241
Year 4		5,973		232
Year 5		5,823		60
Years thereafter		575,562		609
Total future minimum lease payments		605,665		1,662
Less amount representing interest		(499,801)		(311)
Total present value of minimum payments	$	105,864	$	1,351

Schedule of Remaining Lease Term and Discount Rate of Leases

Weighted-average remaining lease term:
Operating leases	51.1	years
Finance leases	10.2	years
Weighted-average discount rate:
Operating leases	6.8	%
Finance leases	4.0	%