Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases

Schedule of Company's Lease Cost

The Company’s lease costs for the three and six months ended June 30, 2023 and 2022 are as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
Operating lease cost	$	4,431	$	3,809	$	9,088	$	7,345
Finance lease cost:
Amortization of right-of-use assets		30		30		61		61
Interest on lease liabilities		6		10		12		18
Net lease cost	$	4,467	$	3,849	$	9,161	$	7,424

Summary of Maturities of Operating Lease Liabilities

Future minimum lease payments under non-cancelable leases at June 30, 2023 are as follows (in thousands):

	Operating		Finance
	Leases		Leases
Year 1	$	9,176	$	194
Year 2		9,112		106
Year 3		8,957		81
Year 4		8,986		49
Year 5		9,002		47
Years thereafter		560,604		451
Total future minimum lease payments		605,837		928
Less amount representing interest		(478,150)		(184)
Total present value of minimum payments	$	127,687	$	744

Summary of Maturities of Finance Lease Liabilities

	Operating		Finance
	Leases		Leases
Year 1	$	9,176	$	194
Year 2		9,112		106
Year 3		8,957		81
Year 4		8,986		49
Year 5		9,002		47
Years thereafter		560,604		451
Total future minimum lease payments		605,837		928
Less amount representing interest		(478,150)		(184)
Total present value of minimum payments	$	127,687	$	744

Schedule of Remaining Lease Term and Discount Rate of Leases

Weighted-average remaining lease term:
Operating leases	43.5	years
Finance leases	10.5	years
Weighted-average discount rate:
Operating leases	7.0	%
Finance leases	3.7	%