The Company has certain property leases for facilities of the Company’s subsidiaries. Total lease payments amounted to $4.0 million and $3.2 million for the three months ended September 30, 2026 and 2025, respectively. Total lease payments amounted to $11.2 million and $9.6 million for the nine months ended September 30, 2026 and 2025, respectively. Consolidated Lease Summary On a consolidated basis, lease activity for the three and nine months ended September 30, 2026 and 2025 was as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(in thousands) |
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Finance lease expense |
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Amortization of ROU assets |
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$ |
2,145 |
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$ |
1,708 |
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$ |
5,888 |
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$ |
5,132 |
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Interest on lease liabilities |
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2,023 |
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1,642 |
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5,754 |
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5,005 |
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Operating lease expense |
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1,012 |
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557 |
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2,524 |
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1,622 |
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Total |
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$ |
5,180 |
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$ |
3,907 |
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$ |
14,166 |
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$ |
11,759 |
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Amortization of right-of-use (“ROU”) assets is included in the depreciation and amortization expense line of the accompanying condensed consolidated statements of operations and comprehensive income. On a consolidated basis, supplemental cash flow information for the nine months ended September 30, 2026 and 2025 was as follows:
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Nine Months Ended September 30, |
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2026 |
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2025 |
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(in thousands, except percentages and years) |
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Cash paid for amounts included in the measurement of lease liabilities: |
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Operating cash flows from finance leases |
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$ |
5,444 |
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$ |
5,011 |
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Financing cash flows from finance leases |
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$ |
3,359 |
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$ |
2,892 |
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Operating cash flows from operating leases |
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$ |
2,391 |
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$ |
1,660 |
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ROU assets obtained in exchange for new finance lease liabilities |
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$ |
52,457 |
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$ |
— |
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ROU assets obtained in exchange for new operating lease liabilities |
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$ |
14,378 |
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$ |
1,342 |
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Weighted-average remaining lease term in years for finance leases |
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15.82 |
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13.31 |
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Weighted-average remaining lease term in years for operating leases |
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10.07 |
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5.52 |
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Weighted-average discount rate for finance leases |
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7.07 |
% |
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8.35 |
% |
Weighted-average discount rate for operating leases |
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7.15 |
% |
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9.57 |
% |
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