v3.25.4
Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Components of lease expense
The following table shows the components of lease cost included in the Consolidated Statement of Operations:
Year Ended December 31,202520242023
(Dollars in thousands)
Operating lease cost$51,300 $48,557 $47,034 
Variable lease cost6,768 6,518 6,023 
Total$58,068 $55,075 $53,057 
Supplemental cash flow information related to leases
The following table shows supplemental cash flow information related to lease activities:
Year Ended December 31,202520242023
(Dollars in thousands)
Cash paid for amounts included in the measurement of lease liabilities: 
Operating cash flows from operating leases$46,589 $46,273 $43,167 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$34,559 $37,792 $43,111 
Schedule of weighted average remaining lease term and weighted average discount rate related to leases
The table below shows a weighted-average analysis for lease terms and discount rates for operating leases:
December 31,20252024
Weighted Average Remaining Lease Term21 years20 years
Weighted Average Discount Rate5.1 %4.9 %
Maturities of lease liabilities
The maturities of lease liabilities are as follows:
 Operating Leases
(Dollars in thousands)
2026$41,847 
202745,202 
202844,261 
202943,363 
203042,854 
Thereafter784,776 
Total lease payments$1,002,303 
Less: Imputed interest477,133 
Present value of lease liabilities$525,170 
Lease income
The following table shows the components of lease income which are included in Site rental revenues in the Consolidated Statement of Operations:
Year Ended December 31,202520242023
(Dollars in thousands)
Operating lease income$154,654 $102,610 $100,382 
Maturities of expected lease revenues
The maturities of expected lease payments to be received are as follows. The table below does not include lease payments for Interim Sites whereby T-Mobile is leasing up to 1,800 sites for a period of up to 30 months subject to the terms and conditions of the MLA.
 Operating Leases
(Dollars in thousands)
2026$144,858 
2027144,885 
2028136,511 
2029127,272 
2030115,813 
Thereafter1,070,051 
Total future lease maturities$1,739,390