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Leases (Tables) | 3 Months Ended
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Mar. 31, 2023
Leases [Abstract] |
Lease cost and additional information | The following tables provide information related to our lease costs (dollars in thousands):
|  | Three Months Ended March 31,
|  | 2023 |  | 2022
Operating Lease Cost - Purchased Power Lease Contracts |  | $ | — |  |  | $ | — |
Operating Lease Cost - Land, Property, and Other Equipment |  | 4,600 |  |  | 4,572 |
Total Operating Lease Cost |  | 4,600 |  |  | 4,572 |
Variable lease cost (a) |  | 16,721 |  |  | 18,695 |
Short-term lease cost |  | 1,402 |  |  | 1,302 |
Total lease cost |  | $ | 22,723 |  |  | $ | 24,569 |
(a) Primarily relates to purchased power lease contracts. The following tables provide other additional information related to operating lease liabilities (dollars in thousands):
| Three Months Ended March 31, 2023 |  | Three Months Ended March 31, 2022
Cash paid for amounts included in the measurement of lease liabilities — operating cash flows: | $ | 3,851 |  |  | $ | 3,358 |
Right-of-use operating lease assets obtained in exchange for operating lease liabilities | 551,239 |  | (a) | 4,889 |
| March 31, 2023 |  | December 31, 2022
Weighted average remaining lease term | 10 years |  | 7 years
Weighted average discount rate (b) | 4.44 | % |  | 2.21 | %
(a) Primarily relates to the two purchased power operating lease agreements that were modified in January 2023. (b) Most of our lease agreements do not contain an implicit rate that is readily determinable. For these agreements we use our incremental borrowing rate to measure the present value of lease liabilities. We determine our incremental borrowing rate at lease commencement based on the rate of interest that we would have to pay to borrow, on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. We use the implicit rate when it is readily determinable.
Schedule of future minimum payments | The following table provides information related to the maturity of our operating lease liabilities (dollars in thousands):
|  | March 31, 2023
Year |  | Purchased Power Lease Contracts |  | Land, Property & Equipment Leases |  | Total
2023 (remaining nine months of 2023) |  | $ | 106,152 |  |  | $ | 11,981 |  |  | $ | 118,133 |
2024 |  | 104,315 |  |  | 13,098 |  |  | 117,413 |
2025 |  | 121,082 |  |  | 10,422 |  |  | 131,504 |
2026 |  | 134,806 |  |  | 8,308 |  |  | 143,114 |
2027 |  | 160,727 |  |  | 6,395 |  |  | 167,122 |
2028 |  | 164,524 |  |  | 4,338 |  |  | 168,862 |
Thereafter |  | 779,792 |  |  | 68,372 |  |  | 848,164 |
Total lease commitments |  | 1,571,398 |  |  | 122,914 |  |  | 1,694,312 |
Less imputed interest |  | 342,694 |  |  | 45,904 |  |  | 388,598 |
Total lease liabilities |  | $ | 1,228,704 |  |  | $ | 77,010 |  |  | $ | 1,305,714 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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