v3.26.1
LEASES
6 Months Ended
Jun. 30, 2026
LEASES  
LEASES

8. LEASES:

The Company’s lease costs for the three and six months ended June 30, 2026 and 2025 are as follows (in thousands):

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Three Months Ended

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Six Months Ended

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June 30, 

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June 30, 

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2026

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2025

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2026

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2025

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Operating lease cost

$

5,556

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$

5,135

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$

11,264

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$

10,048

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Finance lease cost:

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Amortization of right-of-use assets

 

110

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57

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231

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98

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Interest on lease liabilities

 

10

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4

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18

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8

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Net lease cost

$

5,676

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$

5,196

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$

11,513

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$

10,154

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Future minimum lease payments under non-cancelable leases at June 30, 2026 are as follows (in thousands):

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Operating

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Finance

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Leases 

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Leases 

Year 1

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$

13,700

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$

163

Year 2

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14,932

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273

Year 3

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13,924

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131

Year 4

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13,666

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13

Year 5

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12,430

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—

Years thereafter

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617,743

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—

Total future minimum lease payments

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686,395

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580

Less amount representing interest

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(523,252)

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(43)

Total present value of minimum payments

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$

163,143

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$

537

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The remaining lease term and discount rate for the Company’s leases are as follows:

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Weighted-average remaining lease term:

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Operating leases

39.1

years

Finance leases

2.1

years

Weighted-average discount rate:

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Operating leases

7.3

%

Finance leases

6.0

%

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