SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Lease, Cost

A summary of our leases is shown below:

	Operating Leases As of December 31,			Finance Leases As of December 31,
(Dollars in millions)	2024	2023	2022	2024	2023	2022
Weighted average discount rate	5.8%	5.9%	5.9%	7.3%	7.3%	7.3%
Weighted average remaining lease term (in years)	4.9	3.8	4.1	83.1	85.1	86.0
Payments on lease liabilities	$21.4	$28.1	$29.2	$1.4	$1.3	$1.3
Recorded lease expense	$18.3	$22.8	$25.4	$2.1	$2.0	$2.0

Schedule of Future Lease Payments

The future minimum lease payments required under our leases as of December 31, 2024 are as follows (dollars in thousands):

Years Ending December 31,	Operating Lease Payments		Finance Lease Payments			Total Lease Payments
2025	$	17,766	$	1,385		$	19,151
2026	13,170		1,385			14,555
2027	10,314		1,385			11,699
2028	6,370		1,385			7,755
2029	5,516		1,574			7,090
Thereafter	9,242		255,826		(1)	265,068
Total lease payments	$	62,378	$	262,940		$	325,318
Less: Interest	$	8,390	$	237,930		$	246,320
Present value of future lease payments	$	53,988	$	25,010		$	78,998

(1) Includes a 90-year land lease.

Summary of Prepaid Expenses and Other Assets

Prepaid Expenses and Other Assets, net — Prepaid expenses and other assets, net consist of the following:

	As of December 31,
(Dollars in thousands)	2024		2023
Prepaid expenses	$	41,254	$	41,310
Other assets	86,422		104,210
Build-to-Rent assets	242,966		145,405
Total prepaid expenses and other assets, net	$	370,642	$	290,925