XML 25 R10.htm IDEA: XBRL DOCUMENT v3.25.0.1
LEASES
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
LEASES LEASES
In September 2023, the Company completed the sale of 122 of our broadcast tower sites and related assets for $45.3 million and entered into operating leases for the use of space on 121 of the broadcast tower sites and related assets sold. The Company realized a net loss of $3.2 million on the sale, which was recorded in Other operating expense, net in the statement of comprehensive loss. The leases are for an initial term of ten years and include four optional five-year renewal periods. In connection with the transaction, the Company recorded ROU assets and lease liabilities with aggregate values of $26.3 million related to these leases.

The following tables provide the components of lease expense included within the statement of comprehensive loss:
Year Ended December 31,
(In thousands)202420232022
Operating lease expense$132,443 $132,059 $144,592 
Variable lease expense27,150 25,114 32,398 
Non-cash impairment of ROU assets2,045 6,058 8,683 

The following table provides the weighted average remaining lease term and the weighted average discount rate for the Company's leases:
Year Ended December 31,
(In thousands)20242023
Operating lease weighted average remaining lease term (in years)12.412.8
Operating lease weighted average discount rate9.8 %9.1 %

As of December 31, 2024, the Company’s future maturities of operating lease liabilities were as follows:
(In thousands)
2025$135,362 
2026132,673 
2027120,342 
2028113,345 
2029102,804 
Thereafter834,175 
  Total lease payments$1,438,701 
Less: Effect of discounting652,599 
  Total operating lease liability$786,102 

The following table provides supplemental cash flow information related to leases:
Year Ended December 31,
(In thousands)202420232022
Cash paid for amounts included in measurement of operating lease liabilities$149,432 $141,869 $141,340 
Lease liabilities arising from obtaining right-of-use assets(1)
29,81947,430 173,235 
(1)Lease liabilities from obtaining right-of-use assets includes new leases entered into during the years ended December 31, 2024, 2023, and 2022.
The Company reflects changes in the lease liability and changes in the ROU asset on a net basis in the Statements of Cash Flows. The non-cash operating lease expense was $62.1 million, $67.1 million, and $87.2 million for the years ended December 31, 2024, 2023, and 2022, respectively.