8. LEASES: The Company’s lease costs for the three and six months ended June 30, 2026 and 2025 are as follows (in thousands): | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Operating lease cost | $ | 5,556 | | $ | 5,135 | | $ | 11,264 | | $ | 10,048 | | Finance lease cost: | | | | | | | | | | | | | Amortization of right-of-use assets | | 110 | | | 57 | | | 231 | | | 98 | | Interest on lease liabilities | | 10 | | | 4 | | | 18 | | | 8 | | Net lease cost | $ | 5,676 | | $ | 5,196 | | $ | 11,513 | | $ | 10,154 | |
Future minimum lease payments under non-cancelable leases at June 30, 2026 are as follows (in thousands): | | | | | | | | | Operating | | Finance | | | Leases | | Leases | Year 1 | | $ | 13,700 | | $ | 163 | Year 2 | | | 14,932 | | | 273 | Year 3 | | | 13,924 | | | 131 | Year 4 | | | 13,666 | | | 13 | Year 5 | | | 12,430 | | | — | Years thereafter | | | 617,743 | | | — | Total future minimum lease payments | | | 686,395 | | | 580 | Less amount representing interest | | | (523,252) | | | (43) | Total present value of minimum payments | | $ | 163,143 | | $ | 537 |
The remaining lease term and discount rate for the Company’s leases are as follows: | | | Weighted-average remaining lease term: | | | Operating leases | 39.1 | years | Finance leases | 2.1 | years | Weighted-average discount rate: | | | Operating leases | 7.3 | % | Finance leases | 6.0 | % |
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