v3.26.1
Leases (Tables)
3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Operating Lease, Lease Income [Table Text Block]
The following table presents lease revenue from operating leases in which the Company is the lessor for the periods indicated (in thousands):

Three Months Ended March 31,
20262025
Total lease revenue
$451 $562 
Lease, Cost
Three Months Ended March 31,
Components of Lease Cost
2026
2025
Finance lease cost:
     Amortization of right-of-use assets$710 $161 
     Interest on lease liabilities1,579 326 
          Total lease cost$2,289 $487 
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] (Deprecated 2026)
The following table shows the future lease payments under finance leases together with the present value of the net lease payments as of March 31, 2026 for 2026 through 2030 and thereafter (in thousands):

Finance Leases
2026$1,350 
20275,438 
20285,893 
20296,010 
20306,130 
Thereafter253,657 
Total278,478 
Less: Imputed interest(171,321)
Present value of lease payments$107,157 
Lessor, Operating Lease, Payment to be Received, Maturity
The following table shows the future lease receipts as of March 31, 2026 for the remainder of 2026 through 2030 and thereafter (in thousands):
Operating Leases
2026$510 
2027483 
2028446 
2029449 
2030417 
Thereafter262 
Total$2,567 
Property, Plant, and Equipment, Lessor Asset under Operating Lease
The following table presents the underlying gross assets and accumulated depreciation of operating leases included in “Property, plant and equipment, net” for the periods indicated (in thousands):

Property, plant and equipment, net
March 31, 2026
December 31, 2025
Gross assets$8,550 $8,617 
Less: Accumulated depreciation(3,672)(3,660)
Net assets$4,878 $4,957 
Finance Lease Balance Sheet Components
The Company is the lessee under financing leases primarily for land associated with AES Indiana's renewable and storage projects. Right-of-use assets are long-term by nature. The following table summarizes the amounts recognized on the Condensed Consolidated Balance Sheets related to lease asset and liability balances as of the periods indicated (in thousands):

Consolidated Balance Sheet Classification
March 31, 2026
December 31, 2025
Assets
Right-of-use assets — finance leasesOther non-current assets$103,676 $104,506 
Liabilities
Finance lease liabilities (current)
Short-term debt and current portion of long-term debt
$109 $154 
Finance lease liabilities (non-current)Long-term debt107,048 107,079 
     Total finance lease liabilities
$107,157 $107,233