Leases |
6 Months Ended |
|---|---|
Jun. 30, 2024 | |
| Leases [Abstract] | |
| Leases | Leases Sale-Leaseback Transactions
During the six months ended June 30, 2024, we entered into and consummated sale-leaseback transactions with two unrelated third parties. Under these transactions, we sold four properties for gross proceeds of $147.9 million, which was reduced by transaction costs of $0.9 million, for net cash proceeds of $147.0 million. The estimated fair value of the properties sold was $143.6 million. Accordingly, the aggregate cash sales price associated with these arrangements was decreased by a $4.3 million aggregate off-market adjustment to $142.7 million. This aggregate off-market adjustment was recognized as financing obligations and the proceeds are reported within financing activities on our condensed consolidated statement of cash flows. During the six months ended June 30, 2024, we recognized a net gain of $7.5 million on the sale-leaseback transactions, which is included in Other operating expense in our condensed consolidated statement of operations.
Right-of-use assets and lease liabilities recognized in connection with these sale-leaseback transactions were $93.6 million and $92.8 million, respectively.
|