v3.26.1
Deferred Revenue (Tables)
 6 Months Ended
Jun. 30, 2026
Revenues [Abstract]  
Schedule of Deferred Revenue and Entrance Fee Receivables
The following table summarizes the Company’s deferred revenue (in thousands):
June 30,
2026		December 31,
2025
Non-refundable entrance fees$695,511 $669,528 
Other deferred revenue3,734 3,479 
Deferred revenue$699,245 $673,007 
The opening and closing balances of non-refundable entrance fees were as follows (in thousands):
Closing balance - December 31, 2024$615,723 
Additions(1)
152,717 
Amortization(2)
(98,912)
Closing balance - December 31, 2025$669,528 
Additions(1)
75,631 
Acquisitions5,362 
Amortization(2)
(55,010)
Closing balance - June 30, 2026$695,511 
_______________________________________
(1)During the three months June 30, 2026, the Company collected non-refundable entrance fees of $41 million. During the three and six months ended June 30, 2025, the Company collected non-refundable entrance fees of $43 million and $71 million, respectively.
(2)Amortization of non-refundable entrance fees is included within resident fees and services on the Combined and Consolidated Statements of Operations. During the three months ended June 30, 2026, the Company recognized amortization of $28 million. During the three and six months ended June 30, 2025, the Company recognized amortization of $24 million and $48 million, respectively.
The following table summarizes the Company’s entrance fee receivables, which are recognized in other assets on the Combined and Consolidated Balance Sheets (in thousands):
Closing balance - December 31, 2024$61,273 
Current year deferrals provided99,960 
Receipts applied to entrance fee commitments(87,857)
Closing balance - December 31, 2025$73,376 
Current year deferrals provided53,160 
Receipts applied to entrance fee commitments(55,273)
Closing balance - June 30, 2026$71,263