Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases

Schedule of Company's Lease Cost

The Company’s lease cost for the year ended December 31, 2019 is as follows (in thousands):

	2019
Operating lease cost	$	13,877
Finance lease cost:
Amortization of right-of-use assets		157
Interest on lease liabilities		63
Net lease cost	$	14,097

Summary of Maturities of Operating Lease Liabilities

Future minimum lease payments under non-cancelable leases at December 31, 2019 are as follows (in thousands):

	Operating		Finance
	Leases		Leases
Year 1	$	6,252	$	260
Year 2		6,151		260
Year 3		5,943		234
Year 4		5,969		199
Year 5		5,828		46
Years thereafter		574,244		607
Total future minimum lease payments		604,387		1,606
Less amount representing interest		(498,056)		(298)
Total present value of minimum payments	$	106,331	$	1,308

Summary of Maturities of Finance Lease Liabilities

	Operating		Finance
	Leases		Leases
Year 1	$	6,252	$	260
Year 2		6,151		260
Year 3		5,943		234
Year 4		5,969		199
Year 5		5,828		46
Years thereafter		574,244		607
Total future minimum lease payments		604,387		1,606
Less amount representing interest		(498,056)		(298)
Total present value of minimum payments	$	106,331	$	1,308

Schedule of Remaining Lease Term and Discount Rate of Leases

Weighted-average remaining lease term:
Operating leases	50.7	years
Finance leases	10.1	years
Weighted-average discount rate:
Operating leases	6.8	%
Finance leases	4.0	%