Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases

Schedule of Company's Lease Cost

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

	2024		2023		2022
Operating lease cost	$	19,264	$	18,346	$	15,694
Finance lease cost:
Amortization of right-of-use assets		189		163		122
Interest on lease liabilities		2		25		33
Net lease cost	$	19,455	$	18,534	$	15,849

Summary of Maturities of Operating Lease Liabilities

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

	Operating		Finance
	Leases		Leases
Year 1	$	11,015	$	39
Year 2		10,962		18
Year 3		10,778		—
Year 4		10,227		—
Year 5		9,581		—
Years thereafter		548,081		—
Total future minimum lease payments		600,644		57
Less amount representing interest		(465,527)		(2)
Total present value of minimum payments	$	135,117	$	55

Summary of Maturities of Finance Lease Liabilities

	Operating		Finance
	Leases		Leases
Year 1	$	11,015	$	39
Year 2		10,962		18
Year 3		10,778		—
Year 4		10,227		—
Year 5		9,581		—
Years thereafter		548,081		—
Total future minimum lease payments		600,644		57
Less amount representing interest		(465,527)		(2)
Total present value of minimum payments	$	135,117	$	55

Schedule of Remaining Lease Term and Discount Rate of Leases

Weighted-average remaining lease term:
Operating leases	41.3	years
Finance leases	1.5	years
Weighted-average discount rate:
Operating leases	7.0	%
Finance leases	2.0	%