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Note 7 - Long-term Leases | 3 Months Ended
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Mar. 31, 2024
Notes to Financial Statements |
Lessee, Operating and Finance Leases [Text Block] | Note 7 – Long-Term Leases Operating Leases At March 31, 2024, we lease from NHI the real property of 28 skilled nursing facilities, five assisted living centers and three independent living centers under one lease agreement. As part of the lease agreement, we sublease four Florida skilled nursing facilities to a third-party operator. The lease includes base rent plus a percentage rent. The annual base rent is $32,625,000 in 2024, $32,225,000 in 2025, and $31,975,000 in 2026 with the lease term expiring in December 2026. The percentage rent is based on a quarterly calculation of revenue increases and is payable on a quarterly basis. Total facility rent expense to NHI was $9,472,000 and $9,295,000 for the three months ended March 31, 2024 and 2023, respectively. Minimum Lease Payments The following table summarizes the maturity of our operating lease liabilities as of March 31, 2024 (in thousands):
|  | Operating Leases |
2025 |  | $ | 34,351 |
2026 |  |  | 33,590 |
2027 |  |  | 24,933 |
2028 |  |  | 493 |
2029 |  |  | 207 |
Thereafter |  |  | 21 |
Total minimum lease payments |  |  | 93,595 |
Less: amounts representing interest |  |  | (7,858 | )
Present value of future minimum lease payments |  |  | 85,737 |
Less: current portion |  |  | (29,733 | )
Noncurrent lease liabilities |  | $ | 56,004 |

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- Definition Disclosure for operating and finance leases of lessee. + References No definition available. + Details
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Namespace Prefix: | nhc_
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Balance Type: | na
Period Type: | duration

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- References No definition available. + Details
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Namespace Prefix: | us-gaap_
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Period Type: | duration