Transactions with Affiliates |
6 Months Ended |
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Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Transactions with Affiliates | (5) Transactions with Affiliates
An affiliated insurance agency, JMB Insurance Agency, Inc., which has some degree of common ownership with the Company, earns insurance brokerage commissions in connection with providing the placement of insurance coverage for certain of the properties and operations of the Company. Commissions paid for the three and six months ended June 30, 2026 were $29 and $29, respectively, and $26 and $26 for the three and six months ended June 30, 2025, respectively.
The Company reimburses its affiliates for general overhead expense and for direct expenses incurred on its behalf, including salaries and salary-related expenses incurred in connection with the management of the Company's operations. Generally, the entity that employs the person providing the services receives the reimbursement. Substantially all of such reimbursable amounts were incurred by JMB Realty Corporation or its affiliates, 900FMS, LLC, 900Work, LLC, and JMB Financial Advisors, LLC, all of which have some degree of common ownership with the Company. The total costs recorded in cost of sales and selling, general and administrative expenses in the consolidated statements of operations for the three and six months ended June 30, 2026 were $331 and $662, respectively, and $325 and $656 for the three and six months ended June 30, 2025, respectively, of which $303 was unpaid as of June 30, 2026.
The Company maintains a suspense account within the QRP pending allocation to the employees of certain affiliates, all of which have some degree of common ownership with the Company and were concluded as eligible participants per ERISA requirements for QRPs. The allocation of $981 and $924, which occurred during the first quarter of 2026 and 2025, respectively, was recorded as a reduction in accumulated earnings in the condensed consolidated balance sheet as of June 30, 2026 and December 31, 2025. Reference is made to Note 3. Retirement Plan Investments, for discussion regarding the QRP.
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