Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases

Summary of lease costs and maturity analysis for liabilities

Lease Costs
		For the Year Ended December 31,
(in thousands)		2023		2022		2021
Operating lease cost	$	419	$	419	$	419
	$	419	$	419	$	419
Other information
Cash paid for amounts included in the measurement of lease liabilities	$	447	$	438	$	429
Weighted average remaining lease terms in years - operating leases		0.75		1.75		2.75
Weighted average discount rate - operating leases		3.86%		3.86%		3.86%
Maturity analysis for liabilities	Total
	Undiscounted
(in thousands)	Cash Flows
Discount rate at commencement		3.86%
2024	$	340
	$	340
Present value lease liability	$	334
Difference between undiscounted cash flows and discounted cash flows	$	6

Summary of income relating to lease payments and undiscounted cash flows

Income relating to lease payments:
	For the Year Ended December 31,
(in thousands)	2023		2022		2021
Income from leases (1)	$	146,027	$	157,719	$	203,530
	$	146,027	$	157,719	$	203,530
Undiscounted Cash Flows	Year ending
(in thousands)	December 31,
2024		86,936
2025		78,662
2026		70,489
2027		60,660
2028		54,527
2029 and thereafter		162,594
	$	513,868
(1) Includes amounts recognized from variable lease payments of $42,311, $49,730 and $54,825 for the years ended December 31, 2023, 2022 and 2021, respectively.