Leases |
6 Months Ended |
|---|---|
Jun. 30, 2023 | |
| Leases [Abstract] | |
| Leases | Leases Sale-Leaseback Transactions
During the six months ended June 30, 2023, we entered into and consummated sale-leaseback transactions with two unrelated third parties. Under these transactions, we sold two properties with a combined net book value of $84.7 million for $78.5 million, which was reduced by transaction costs of $0.5 million, for net cash proceeds of $78.0 million. The estimated fair value of the property sold was $84.4 million. Accordingly, the aggregate sales price associated with these arrangements was increased by $5.9 million, which resulted in the recognition of a loss of $0.8 million on these transactions. This loss is included in Other operating expense (income) in our condensed consolidated statement of operations. Right-of-use assets and lease liabilities recognized related to these sale-leaseback transactions were $49.9 million and $43.5 million, respectively. On March 29, 2023, the Company entered into an agreement for the sale-leaseback of one property for gross proceeds of $45.5 million. The closing on this property is expected to be completed on or before September 30, 2023.
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| Leases | Leases Sale-Leaseback Transactions
During the six months ended June 30, 2023, we entered into and consummated sale-leaseback transactions with two unrelated third parties. Under these transactions, we sold two properties with a combined net book value of $84.7 million for $78.5 million, which was reduced by transaction costs of $0.5 million, for net cash proceeds of $78.0 million. The estimated fair value of the property sold was $84.4 million. Accordingly, the aggregate sales price associated with these arrangements was increased by $5.9 million, which resulted in the recognition of a loss of $0.8 million on these transactions. This loss is included in Other operating expense (income) in our condensed consolidated statement of operations. Right-of-use assets and lease liabilities recognized related to these sale-leaseback transactions were $49.9 million and $43.5 million, respectively. On March 29, 2023, the Company entered into an agreement for the sale-leaseback of one property for gross proceeds of $45.5 million. The closing on this property is expected to be completed on or before September 30, 2023.
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