Leases (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Leases [Abstract] |
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| Schedule of Composition of Operating Lease Revenue |
The table below presents our composition of lease revenue recognized (in thousands):
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For the Three Months Ended September 30, |
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For the Nine Months Ended September 30, |
| Lease Revenue |
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2026 |
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2025 |
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2026 |
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2025 |
| Fixed-lease revenue from operating leases |
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$ |
144,905 |
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$ |
135,883 |
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$ |
431,101 |
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$ |
403,750 |
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| Variable-lease revenue |
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47,689 |
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|
42,315 |
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142,515 |
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|
125,196 |
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| Sales-type lease interest income |
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888 |
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74 |
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1,643 |
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232 |
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$ |
193,482 |
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$ |
178,272 |
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$ |
575,259 |
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$ |
529,178 |
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| Schedule of Composition of Sales-Type Lease Revenue |
The table below presents our composition of lease revenue recognized (in thousands):
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For the Three Months Ended September 30, |
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For the Nine Months Ended September 30, |
| Lease Revenue |
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2026 |
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2025 |
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2026 |
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2025 |
| Fixed-lease revenue from operating leases |
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$ |
144,905 |
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$ |
135,883 |
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$ |
431,101 |
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$ |
403,750 |
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| Variable-lease revenue |
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47,689 |
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42,315 |
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142,515 |
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125,196 |
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| Sales-type lease interest income |
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888 |
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74 |
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1,643 |
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232 |
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$ |
193,482 |
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$ |
178,272 |
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$ |
575,259 |
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$ |
529,178 |
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| Schedule of Property Right-of-use Assets and Lease Liabilities |
Our property right-of-use assets and property lease liabilities on our consolidated balance sheets consisted of the following (in thousands):
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| Leases |
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Balance Sheet Location |
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September 30,
2026 |
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December 31,
2025 |
| Right-of-use assets |
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| Operating leases - Property |
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Property - operating lease right-of-use assets |
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$ |
45,882 |
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$ |
50,383 |
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| Finance leases - Property |
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Prepaid expenses and other assets, net |
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6,542 |
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5,373 |
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| Total right-of-use assets |
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$ |
52,424 |
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$ |
55,756 |
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| Lease liabilities |
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| Operating leases - Property |
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Property - operating lease liabilities |
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$ |
41,178 |
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$ |
45,012 |
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| Finance leases - Property |
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Other liabilities |
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1,090 |
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|
363 |
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| Total lease liabilities |
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$ |
42,268 |
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$ |
45,375 |
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| Schedule of Property Lease Costs and Effect of Property Lease Payments on Consolidated Statements of Cash Flows |
The table below presents our total property lease cost (in thousands):
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|
Statement of Operations Location |
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For the Three Months Ended September 30, |
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For the Nine Months Ended September 30, |
| Lease Cost |
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2026 |
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2025 |
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2026 |
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2025 |
| Operating lease cost |
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| Property leases - fixed |
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Property operating expenses |
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$ |
2,275 |
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$ |
2,276 |
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$ |
6,827 |
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$ |
6,813 |
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| Property leases - variable |
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Property operating expenses |
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27 |
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27 |
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81 |
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81 |
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| Finance lease cost |
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| Amortization of property right-of-use assets |
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Property operating expenses |
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100 |
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19 |
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157 |
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56 |
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| Interest on lease liabilities |
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Interest expense |
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24 |
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8 |
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40 |
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26 |
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$ |
2,426 |
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$ |
2,330 |
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$ |
7,105 |
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$ |
6,976 |
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The table below presents the effect of property lease payments on our consolidated statements of cash flows (in thousands):
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For the Nine Months Ended September 30, |
| Supplemental Cash Flow Information |
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2026 |
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2025 |
| Cash paid for amounts included in the measurement of lease liabilities |
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| Operating cash flows for operating leases |
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$ |
6,160 |
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$ |
5,928 |
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| Operating cash flows for finance leases |
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$ |
40 |
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$ |
26 |
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| Financing cash flows for finance leases |
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$ |
248 |
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$ |
21 |
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| Schedule of Payments Due on Property Operating Leases |
Payments on property leases were due as follows (in thousands):
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September 30, 2026 |
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| Year Ending December 31, |
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Operating Leases |
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Finance Leases |
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2026 (1) |
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$ |
2,060 |
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$ |
118 |
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| 2027 |
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8,418 |
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272 |
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| 2028 |
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2,838 |
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275 |
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| 2029 |
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2,094 |
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277 |
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| 2030 |
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2,129 |
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210 |
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| Thereafter |
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151,870 |
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153 |
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| Total lease payments |
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169,409 |
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1,305 |
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| Less: Amount representing interest |
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(128,231) |
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(215) |
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| Lease liability |
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$ |
41,178 |
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$ |
1,090 |
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(1)Represents the three months ending December 31, 2026.
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| Schedule of Payments Due on Property Finance Leases |
Payments on property leases were due as follows (in thousands):
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September 30, 2026 |
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| Year Ending December 31, |
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Operating Leases |
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Finance Leases |
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2026 (1) |
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$ |
2,060 |
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$ |
118 |
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| 2027 |
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8,418 |
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272 |
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| 2028 |
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2,838 |
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275 |
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| 2029 |
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2,094 |
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277 |
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| 2030 |
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2,129 |
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210 |
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| Thereafter |
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151,870 |
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153 |
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| Total lease payments |
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169,409 |
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1,305 |
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| Less: Amount representing interest |
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(128,231) |
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(215) |
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| Lease liability |
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$ |
41,178 |
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$ |
1,090 |
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(1)Represents the three months ending December 31, 2026.
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