XML 27 R15.htm IDEA: XBRL DOCUMENT
v3.24.3

LEASES | 9 Months Ended
--- | ---
Sep. 30, 2024
Leases [Abstract] |
LEASES | ​ 6. LEASES Lessor Arrangements ​ The Company’s lessor arrangements consist of sales-type and direct financing leases for equipment, including vehicles and machinery, with terms ranging from 5 months to 122 months. At September 30, 2024 and December 31, 2023, the carrying value of residual assets covered by residual value guarantees and residual value insurance was $97.1 million and $84.1 million, respectively. For more information on the Company’s lessor arrangements, refer to Note 1 “Summary of Significant Accounting Policies” in the “Notes to the Consolidated Financial Statements” contained in Item 8 “Financial Statements and Supplementary Data” in the Company’s 2023 Form 10-K. ​ Total net investment in sales-type and direct financing leases are included in “Loans held for investment, net of deferred fees and costs” on the Company’s Consolidated Balance Sheets and consist of the following as of the periods ended (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2024 | ​ | ​ | December 31, 2023
Sales-type and direct financing leases: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Lease receivables, net of unearned income and deferred selling profit | ​ | $ | 492,868 | ​ | ​ | $ | 409,264
Unguaranteed residual values, net of unearned income and deferred selling profit | ​ | ​ | 29,874 | ​ | ​ | ​ | 21,484
Total net investment in sales-type and direct financing leases |  | $ | 522,742 | ​ | ​ | $ | 430,748
​ Lessee Arrangements ​ The Company’s lessee arrangements consist of operating and finance leases; however, the majority of the leases have been classified as non-cancellable operating leases and are primarily for real estate leases with remaining lease terms of up to 21 years. For more information on the Company’s lessee arrangements, refer to Note 1 “Summary of Significant Accounting Policies” in the “Notes to the Consolidated Financial Statements” contained in Item 8 “Financial Statements and Supplementary Data” in the Company’s 2023 Form 10-K. ​ ​ The tables below provide information about the Company’s lessee lease portfolio and other supplemental lease information for the following periods ended (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2024 | ​ | ​ | ​ | December 31, 2023 | ​
​ | ​ | Operating | ​ | ​ | Finance | ​ | ​ | ​ | Operating | ​ | ​ | Finance | ​
ROU assets | ​ | $ | 75,833 | ​ | ​ | $ | 3,980 | ​ | ​ | ​ | $ | 71,788 | ​ | ​ | $ | 4,669 | ​
Lease liabilities | ​ | ​ | 80,812 | ​ | ​ | ​ | 6,098 | ​ | ​ | ​ | ​ | 78,043 | ​ | ​ | ​ | 7,052 | ​
Lease Term and Discount Rate of Operating leases: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average remaining lease term (years) |  | ​ | 11.10 | ​ | ​ | ​ | 4.33 | ​ | ​ | ​ | ​ | 11.75 | ​ | ​ | ​ | 5.08 | ​
Weighted-average discount rate (1) |  | ​ | 6.20 | % | ​ | ​ | 1.17 | % | ​ | ​ | ​ | 6.21 | % | ​ | ​ | 1.17 | %
(1) A lease implicit rate or an incremental borrowing rate is used based on information available at commencement date of lease or at remeasurement date. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine months ended September 30,
​ |  | 2024 | ​ | 2023
Cash paid for amounts included in measurement of lease liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Operating Cash Flows from Finance Leases | ​ | $ | 57 | ​ | $ | 68
Operating Cash Flows from Operating Leases | ​ | ​ | 10,802 | ​ | ​ | 8,902
Financing Cash Flows from Finance Leases | ​ | ​ | 955 | ​ | ​ | 919
ROU assets obtained in exchange for lease obligations: | ​ | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | $ | 4,135 | ​ | $ | 38,318
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, | ​ | Nine months ended September 30,
​ | ​ | ​ | 2024 | ​ | ​ | 2023 | ​ | ​ | 2024 | ​ | ​ | 2023
Net Operating Lease Cost | ​ | $ | 3,448 | ​ | $ | 2,381 |  | $ | 9,994 | ​ | $ | 7,291
Finance Lease Cost: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of right-of-use assets | ​ | ​ | 230 | ​ | ​ | 230 | ​ | ​ | 689 | ​ | ​ | 689
Interest on lease liabilities | ​ | ​ | 18 | ​ | ​ | 22 | ​ |  | 57 | ​ | ​ | 68
Total Lease Cost | ​ | $ | 3,696 | ​ | $ | 2,633 | ​ | $ | 10,740 | ​ | $ | 8,048
​ The maturities of lessor and lessee arrangements outstanding are presented in the table below for the years ending (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2024
​ | ​ | Lessor | ​ | Lessee
​ | ​ | ​ | Sales-type and Direct Financing | ​ | Operating | ​ | Finance
For the remaining three months of 2024 |  | $ | 31,746 | ​ | $ | 3,734 | ​ | $ | 346
2025 | ​ | ​ | 118,884 | ​ | ​ | 14,383 | ​ | ​ | 1,392
2026 | ​ |  | 108,054 | ​ | ​ | 11,726 | ​ | ​ | 1,427
2027 | ​ |  | 108,830 | ​ | ​ | 10,498 | ​ | ​ | 1,462
2028 | ​ |  | 83,386 | ​ | ​ | 9,495 | ​ | ​ | 1,499
Thereafter | ​ |  | 127,840 | ​ | ​ | 67,754 | ​ | ​ | 128
Total undiscounted cash flows | ​ |  | 578,740 | ​ | ​ | 117,590 | ​ | ​ | 6,254
Less: Adjustments (1) | ​ |  | 85,872 | ​ | ​ | 36,778 | ​ | ​ | 156
Total (2) | ​ | $ | 492,868 | ​ | $ | 80,812 | ​ | $ | 6,098
(1) Lessor – unearned income and unearned guaranteed residual value; Lessee – imputed interest. (2) Represents lease receivables for lessor arrangements and lease liabilities for lessee arrangements.

X
- Definition The entire disclosure of information about leases. + References No definition available. + Details
Name: | aub_LeaseDisclosureTextBlock
Namespace Prefix: | aub_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration