Leases (Tables)

6 Months Ended

Jun. 30, 2021

Leases

Schedule of Company's Lease Cost

The Company’s lease costs for the three months and six months ended June 30, 2021 and 2020 are as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Operating lease cost	$	3,243	$	2,793	$	6,370	$	6,080
Finance lease cost:
Amortization of right-of-use assets		37		37		74		74
Interest on lease liabilities		10		12		21		25
Net lease cost	$	3,290	$	2,842	$	6,465	$	6,179

Summary of Maturities of Operating Lease Liabilities

Future minimum lease payments under non-cancelable leases at June 30, 2021 are as follows (in thousands):

	Operating		Finance
	Leases		Leases
Year 1	$	6,248	$	248
Year 2		6,065		232
Year 3		5,922		106
Year 4		5,866		46
Year 5		6,049		46
Years thereafter		565,247		544
Total future minimum lease payments		595,397		1,222
Less amount representing interest		(487,114)		(242)
Total present value of minimum payments	$	108,283	$	980

Summary of Maturities of Finance Lease Liabilities

	Operating		Finance
	Leases		Leases
Year 1	$	6,248	$	248
Year 2		6,065		232
Year 3		5,922		106
Year 4		5,866		46
Year 5		6,049		46
Years thereafter		565,247		544
Total future minimum lease payments		595,397		1,222
Less amount representing interest		(487,114)		(242)
Total present value of minimum payments	$	108,283	$	980

Schedule of Remaining Lease Term and Discount Rate of Leases

Weighted-average remaining lease term:
Operating leases	50.0	years
Finance leases	10.3	years
Weighted-average discount rate:
Operating leases	6.9	%
Finance leases	4.0	%