| Schedule of Lease Costs |
A summary of operating and financing lease expense (including the respective presentation on the condensed consolidated statements of operations) and net cash outflows from leases is as follows.
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | Operating Leases (in thousands) | 2025 | | 2024 | | 2025 | | 2024 | | Facility operating expense | $ | 1,971 | | | $ | 1,999 | | | $ | 6,105 | | | $ | 6,095 | | | Facility lease expense | 51,993 | | | 51,937 | | | 157,520 | | | 154,397 | | | Operating lease expense | 53,964 | | | 53,936 | | | 163,625 | | | 160,492 | | Operating lease expense adjustment (1) | 4,685 | | | 12,489 | | | 13,384 | | | 39,061 | | | Changes in operating lease assets and liabilities for lessor capital expenditure reimbursements | (8,706) | | | (6,432) | | | (20,038) | | | (7,732) | | | Operating net cash outflows from operating leases | $ | 49,943 | | | $ | 59,993 | | | $ | 156,971 | | | $ | 191,821 | |
(1)Represents the difference between the amount of cash operating lease payments and the amount of operating lease expense.
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | Financing Leases (in thousands) | 2025 | | 2024 | | 2025 | | 2024 | | Depreciation and amortization | $ | 715 | | | $ | 2,651 | | | $ | 3,949 | | | $ | 8,421 | | | Interest expense: financing lease obligations | 1,764 | | | 5,062 | | | 9,114 | | | 15,233 | | | Financing lease expense | $ | 2,479 | | | $ | 7,713 | | | $ | 13,063 | | | $ | 23,654 | | | | | | | | | | | Operating cash outflows from financing leases | $ | 1,764 | | | $ | 5,062 | | | $ | 9,114 | | | $ | 15,233 | | | Financing cash outflows from financing leases | 304 | | | 273 | | | 890 | | | 800 | | | Changes in financing lease assets and liabilities for lessor capital expenditure reimbursement | (35) | | | — | | | (40) | | | — | | | Total net cash outflows from financing leases | $ | 2,033 | | | $ | 5,335 | | | $ | 9,964 | | | $ | 16,033 | | | | | | | | | | | | | | | | | |
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| Schedule of Operating Lease, Liability, Maturity |
The aggregate amounts of future minimum lease payments (without giving effect to the early termination by Ventas, Inc. ("Ventas") of certain of the Company's community leases with maturity dates of December 31, 2025), including community, office, and equipment leases, recognized on the condensed consolidated balance sheet as of September 30, 2025 are as follows (in millions).
| | | | | | | | | | | | | Year Ending December 31, | Operating Leases | | Financing Leases | | 2025 (three months) | $ | 57.1 | | | $ | 1.8 | | | 2026 | 183.5 | | | 7.2 | | | 2027 | 186.4 | | | 6.4 | | | 2028 | 183.9 | | | 6.3 | | | 2029 | 186.4 | | | 6.3 | | | Thereafter | 1,096.1 | | | 15.6 | | | Total lease payments | 1,893.4 | | | 43.6 | | | Imputed interest and variable lease payments | (685.2) | | | (38.4) | | | Non-cash gain on future sale of property | — | | | 20.7 | | | Total lease obligations | $ | 1,208.2 | | | $ | 25.9 | |
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| Schedule of Financing Lease, Liability, Maturity |
The aggregate amounts of future minimum lease payments (without giving effect to the early termination by Ventas, Inc. ("Ventas") of certain of the Company's community leases with maturity dates of December 31, 2025), including community, office, and equipment leases, recognized on the condensed consolidated balance sheet as of September 30, 2025 are as follows (in millions).
| | | | | | | | | | | | | Year Ending December 31, | Operating Leases | | Financing Leases | | 2025 (three months) | $ | 57.1 | | | $ | 1.8 | | | 2026 | 183.5 | | | 7.2 | | | 2027 | 186.4 | | | 6.4 | | | 2028 | 183.9 | | | 6.3 | | | 2029 | 186.4 | | | 6.3 | | | Thereafter | 1,096.1 | | | 15.6 | | | Total lease payments | 1,893.4 | | | 43.6 | | | Imputed interest and variable lease payments | (685.2) | | | (38.4) | | | Non-cash gain on future sale of property | — | | | 20.7 | | | Total lease obligations | $ | 1,208.2 | | | $ | 25.9 | |
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