LEASES (Tables)

6 Months Ended

Jun. 30, 2024

LEASES

Schedule of Company's Lease Cost

The Company’s lease costs for the three and six months ended June 30, 2024 and 2023 are as follows (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Operating lease cost	$	4,901	$	4,431	$	9,567	$	9,088
Finance lease cost:
Amortization of right-of-use assets		47		30		95		61
Interest on lease liabilities		—		6		1		12
Net lease cost	$	4,948	$	4,467	$	9,663	$	9,161

Summary of Maturities of Operating Lease Liabilities

Future minimum lease payments under non-cancelable leases at June 30, 2024 are as follows (in thousands):

	Operating		Finance
	Leases		Leases
Year 1	$	9,943	$	60
Year 2		9,755		35
Year 3		9,778		2
Year 4		9,710		—
Year 5		9,021		—
Years thereafter		551,601		—
Total future minimum lease payments		599,808		97
Less amount representing interest		(469,397)		(2)
Total present value of minimum payments	$	130,411	$	95

Summary of Maturities of Finance Lease Liabilities

	Operating		Finance
	Leases		Leases
Year 1	$	9,943	$	60
Year 2		9,755		35
Year 3		9,778		2
Year 4		9,710		—
Year 5		9,021		—
Years thereafter		551,601		—
Total future minimum lease payments		599,808		97
Less amount representing interest		(469,397)		(2)
Total present value of minimum payments	$	130,411	$	95

Schedule of Remaining Lease Term and Discount Rate of Leases

Weighted-average remaining lease term:
Operating leases	42.6	years
Finance leases	1.7	years
Weighted-average discount rate:
Operating leases	7.0	%
Finance leases	2.3	%