LEASES (Tables)

3 Months Ended

Mar. 31, 2024

LEASES

Schedule of Company's Lease Cost

The Company’s lease costs for the three months ended March 31, 2024 and 2023 are as follows (in thousands):

	Three Months Ended
	March 31,
	2024		2023
Operating lease cost	$	4,666	$	4,657
Finance lease cost:
Amortization of right-of-use assets		48		31
Interest on lease liabilities		1		6
Net lease cost	$	4,715	$	4,694

Summary of Maturities of Operating Lease Liabilities

Future minimum lease payments under non-cancelable leases at March 31, 2024 are as follows (in thousands):

	Operating		Finance
	Leases		Leases
Year 1	$	9,887	$	72
Year 2		9,587		38
Year 3		9,683		9
Year 4		9,627		—
Year 5		9,087		—
Years thereafter		553,898		—
Total future minimum lease payments		601,769		119
Less amount representing interest		(471,589)		(2)
Total present value of minimum payments	$	130,180	$	117

Summary of Maturities of Finance Lease Liabilities

	Operating		Finance
	Leases		Leases
Year 1	$	9,887	$	72
Year 2		9,587		38
Year 3		9,683		9
Year 4		9,627		—
Year 5		9,087		—
Years thereafter		553,898		—
Total future minimum lease payments		601,769		119
Less amount representing interest		(471,589)		(2)
Total present value of minimum payments	$	130,180	$	117

Schedule of Remaining Lease Term and Discount Rate of Leases

Weighted-average remaining lease term:
Operating leases	42.7	years
Finance leases	1.8	years
Weighted-average discount rate:
Operating leases	7.0	%
Finance leases	2.4	%