Company: FRT-PC
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000034903-25-000016
Chunk: 154

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-13
Form: 10-K
Item: Item 16
Chunk 154
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 range from three to ten years (certain leases with anchor tenants may be longer), and in addition to minimum rents, 

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may provide for percentage rents based on the tenant’s level of sales achieved and cost recoveries for the tenant’s share of certain operating costs. Leases on apartments are generally for a period of 1 year or less. As of December 31, 2024, future minimum rentals from noncancelable commercial operating leases (excluding both tenant reimbursements of operating expenses and percentage rent based on tenants' sales) are as follows: (In thousands)Year ending December 31,2025$775,646 2026735,191 2027663,562 2028565,100 2029473,196 Thereafter1,881,620 $5,094,315 The following table provides additional information on our operating and finance leases where we are the lessee:Year Ended December 31,202420232022(In thousands)LEASE COST:Finance lease cost:     Amortization of right-of-use assets$220 $998 $1,251      Interest on lease liabilities825 4,332 5,743 Operating lease cost6,048 6,232 6,138 Variable lease cost413 348 309 Total lease cost$7,506 $11,910 $13,441 OTHER INFORMATION:Cash paid for amounts included in the measurement of lease liabilities     Operating cash flows for finance leases$713 $4,227 $5,642      Operating cash flows for operating leases$6,276 $6,146 $5,644      Financing cash flows for finance leases$— $55,228 $50 December 31,20242023Weighted-average remaining term - finance leases69.7 years70.6 yearsWeighted-average remaining term - operating leases53.2 years53.6 yearsWeighted-average discount rate - finance leases6.5 %6.5 %Weighted-average discount rate - operating leases4.8 %4.8 %

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NOTE 11—COMPONENTS OF RENTAL EXPENSES

The principal components of rental expenses are as follows: Year Ended December 31,202420232022(In thousands)Repairs and maintenance$99,367 $87,349 $90,343 Utilities38,676