Leases (Tables)

3 Months Ended

Mar. 31, 2026

The following table presents information about lease costs and expenses and sublease income for the three months ended March 31, 2026 and 2025 (in thousands). The amounts below, with the exception of interest on lease liabilities, are included in cost of net revenue in the accompanying consolidated statements of operations for the periods presented. The interest on lease liabilities is included in interest expense, net in the accompanying consolidated statements of operations for the periods presented.


	Three Months Ended March 31,
	2026		2025
Operating lease costs	$	12,986	$	11,054
Finance lease costs:
Amortization of ROU assets	$	5,046	$	3,374
Interest on lease liabilities	$	801	$	647
Other lease costs and income:
Variable leases costs (1)	$	7,297	$	6,298
Sublease income	$	188	$	170

(1)Amounts represent variable costs incurred that were not included in the initial measurement of the lease liability such as common area maintenance and utilities costs associated with leased real estate.

Weighted average remaining lease terms and weighted average discount rates

The following table provides the weighted average remaining lease terms and weighted average discount rates for the Company’s leases as of March 31, 2026 and December 31, 2025:


	March 31, 2026		December 31, 2025
Weighted average remaining lease term, weighted based on lease liability balances:
Operating leases	4.7 years		4.8 years
Finance leases	2.9 years		3.1 years
Weighted average discount rate, weighted based on remaining balance of lease payments:
Operating leases	5.1	%	5.1	%
Finance leases	6.3	%	6.4	%

Schedule of operating lease liability maturity

The following table provides the undiscounted amount of future cash flows related to the Company’s operating and finance leases, as well as a reconciliation of such undiscounted cash flows to the amounts included in the Company’s lease liabilities as of March 31, 2026 (in thousands):


	Operating Leases		Finance Leases
2026	$	30,436	$	17,185
2027	34,515		18,866
2028	28,420		11,541
2029	20,553		6,539
2030	15,682		352
Thereafter	15,979		—
Total future undiscounted lease payments	$	145,585	$	54,483
Less: amount representing interest	(18,022)		(4,616)
Present value of future lease payments (lease liability)	$	127,563	$	49,867

Schedule of finance lease liability maturity


	Operating Leases		Finance Leases
2026	$	30,436	$	17,185
2027	34,515		18,866
2028	28,420		11,541
2029	20,553		6,539
2030	15,682		352
Thereafter	15,979		—
Total future undiscounted lease payments	$	145,585	$	54,483
Less: amount representing interest	(18,022)		(4,616)
Present value of future lease payments (lease liability)	$	127,563	$	49,867

Cash flow and supplemental non-cash information related to our lease liabilities

The following table provides certain cash flow and supplemental non-cash information related to the Company’s lease liabilities for the three months ended March 31, 2026 and 2025, respectively (in thousands):


	Three Months Ended March 31,
Cash paid for amounts included in the measurement of lease liabilities:	2026		2025
Operating cash payments for operating leases	$	11,929	$	9,366
Financing cash payments for finance leases	$	3,104	$	3,221
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	19,441	$	3,483
Finance leases	$	3,157	$	7,388

AdaptHealth Corp. 10-Q