Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases

Schedule of Company's Lease Cost

The Company’s lease cost for the years ended December 31 is as follows (in thousands):

	2021		2020		2019
Operating lease cost	$	13,199	$	12,016	$	13,877
Finance lease cost:
Amortization of right-of-use assets		146		149		157
Interest on lease liabilities		39		48		63
Net lease cost	$	13,384	$	12,213	$	14,097

Summary of Maturities of Operating Lease Liabilities

Future minimum lease payments under non-cancelable leases at December 31, 2021 are as follows (in thousands):

	Operating		Finance
	Leases		Leases
Year 1	$	6,575	$	234
Year 2		6,775		199
Year 3		6,555		46
Year 4		6,602		46
Year 5		6,792		46
Years thereafter		565,152		520
Total future minimum lease payments		598,451		1,091
Less amount representing interest		(484,681)		(207)
Total present value of minimum payments	$	113,770	$	884

Summary of Maturities of Finance Lease Liabilities

	Operating		Finance
	Leases		Leases
Year 1	$	6,575	$	234
Year 2		6,775		199
Year 3		6,555		46
Year 4		6,602		46
Year 5		6,792		46
Years thereafter		565,152		520
Total future minimum lease payments		598,451		1,091
Less amount representing interest		(484,681)		(207)
Total present value of minimum payments	$	113,770	$	884

Schedule of Remaining Lease Term and Discount Rate of Leases

Weighted-average remaining lease term:
Operating leases	48.1	years
Finance leases	10.6	years
Weighted-average discount rate:
Operating leases	6.8	%
Finance leases	4.0	%